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smartdecisions enables users to make smarter credit decisions by making multi-bureau searches. Now with three levels of access, its modular approach makes it even easier to get the functionality and level of integration you need.
There is an industry-wide acceptance that gaining access to more than one credit bureau and integrating additional data into the account opening process can deliver huge value in improving the accuracy of credit decisions. Tapping into other sources of credit data can improve acceptance rates, unearth adverse credit information and improve the quality of your decisions, but can be limited by the cost, scale of development and timescales of enabling a second or third bureau to contribute to their application processes.
smartdecisions provides a fast route to getting additional bureaux data for applicants, minimises IT spend and doesn't require a heavy investment in changes to your application systems. smartdecisions can be up and running in under three months and delivers a greater degree of independence, aligning third party data spend more closely to relative value.
The smartdecisions multi-bureau platform makes it easier for users to incorporate credit bureau data into your decision making, whether you are using credit bureau data for the first time or wish to expand the number of credit bureaux you search. The tool is modular, enabling you to take the elements most relevant to your needs and tailor implementation to match the required level of complexity.
The three modules are:
Client experience with smartdecisions to date shows that a reduction of over 70% on thin file rejects or referrals can be achieved and this approach removes the need for scorecards to be re-written or interfaces altered; simply hook up to Jaywing to deliver data in a familiar format. Further feedback from known smartdecisions applications has demonstrated how users can achieve an increase of around 40% in returned CCJs, over 15% more electoral roll confirmations and over 80% more 4+ due accounts (positively impacting on the quality of business taken on). Clients can see a reduction of over 20% of bad debt, when multi-bureaux scores are used as characteristics within an application scorecard.
Choose which modules of smartdecisions are appropriate for you, using Module 1, Connect, only, Modules 1 and 2, Connect and Combine, in unison, or all three for Complete.
