According to the latest information on consumer credit...
11 April 2017
Compuscan offers a range of products and services to assist credit providers during the customer acquisition stage of the credit life-cycle. While our comprehensive data and range of software applications ensure credit providers can quickly and accurately review and process credit applications, our range of value added products provide a holistic solution to the entire acquisition phase.
Compuscan Business Solutions – Customer Acquisition Products And Services
Credit Check, our online interface facilitates access to our bureau data, enabling you to make informed lending decisions with confidence. Credit providers can efficiently perform the necessary affordability studies as per the National Credit Act (NCA) and are further assisted to remain compliant with the NCA by compiling the required NCR compliance reports. Furthermore, Credit Check can be used by credit providers to determine consumer’s repayment probability, to carry out identification confirmation and to protect their businesses against the advent of fraud should they be registered as Southern African Fraud Prevention Services (SAFPS) members. Credit Check also has a number of value add functionalities such as CompuWatch, our triggers and alerts system which notifies you when any information has been changed or any new information is available on your borrowers.
Xcelerator is a customisable application processing system which automates the entire credit application cycle by employing workflow techniques to control and monitor each stage of the application process. With Xcelerator you can speed up the application process and reduce the need to organise documents manually, saving you time and resources. The system analyses applicant data and makes automatic credit decisions using unique business rules. It then automates the generation of all documentation in the application process and exports loan and payment information to a loan management system.
Compuscore A, available online and in batch format, is an acquisition risk evaluation score which was developed to predict the probability of a serious default event occurring. Credit providers may make use of Compuscore A to perform pre-vetting and manage acquisitions.
Compuscore A forms part of Compuscan’s scoring suite, Compuscore ABC which provides predictive scores throughout the credit life-cycle. Other products included in the Compuscore ABC suite are Compuscore B, a behavioural risk management score and Compuscore C, a debt collections assessment score.
Codix, our decision support tool, allows you to automate the decision making process during the acquisition phase and provides you with the assurance that your business strategy is being upheld across your branches. Codix integrates into our credit reporting system, Credit Check, and automatically analyses credit bureau information. This data is applied to your specific business rules for each loan product to provide a decision on whether to accept, decline or refer a customer’s credit or loan application.
Codix Lite is a decision support tool specifically designed to cater to smaller credit providers. It makes use of industry data in order to evaluate the loan application according to your set of rules. It is furthermore cost effective and quick to set up and put into production. These smaller businesses are thus able to experience the same level of consistent and automated decision making as larger credit providers.
Employment Confidence Index
Our Employment Confidence Index (ECI) quantifies the percentage chance that a specific employer associated with an individual is the current one. The index displays all employer information on an individual and ranks these details as per the most probable employer. You are thus able to determine the accuracy of a loan applicant’s information and prevent the advent of fraud by estimating the probability that the consumer is employed by the company as indicated on their application form.
Compuscan’s Income Predictor accurately predicts the gross monthly income of individuals to support your decision making throughout the consumer credit life-cycle. Using our Income Predictor in a batch or online environment you can receive a consumer’s predicted income value, the band in which the predicted income falls, an indication of the level of confidence assigned to the prediction, a calculation of the sum of the monthly credit commitments and the surplus/deficit amount between the predicted income and the consumer’s monthly bureau commitments.
If you would like to talk to a customer acquisition specialist at Compuscan about these business solutions, simply fill in the enquiry form below and we’ll be in touch with you soon.