Credit Bureau integration allows both Back back office users and Customers to request for a credit check. The type of check (soft pull or hard pull) and the moment when the check is performed depend depends on the account settings
There is a number of Credit Bureaus integration with which is supported in the Standard Turnkey Lender application. Additional integration can be added upon the Client request.
How to Enable and Set Up the Credit Bureau Integration
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Access Settings
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In the Settings → Integrations, enable the “Credit bureau” switcher.
The list of fields required for each of the credit bureau service providers depends on the specific provider as defined on there their websites and described or referred to in the corresponding sections for corresponding countriesdocuments below.
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For each Credit Bureau Provider, you can enable/disable All credit bureau service providers support Hard pull. If the “Automatic Hard pull” flag .
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If enabled, Hard pull is automatically performed for every application – after the application has been filled if there is no automatic Soft pull or before disbursement otherwise.
You should keep in mind, that Hard pull affect credit history of the Customer.
If the credit bureau service provider support Soft Pull (i.e. the credit check that doesn’t affect customer’s credit history), “Automatic Soft pull” flag can be enabled/disabled.
If enabled, Soft pull is automatically performed for every application as soon as the application has been filledis disabled, the check can be requested by a Back-Office user manually but is not run automatically. Otherwise, it is performed as soon as the customer has applied for the loan.
If a credit bureau service provider supports both Hard and Soft pull, you can additionally define, which type(s) of the check shall be enabled for the specific provider.
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Please check the table below to understand the system behavior subject to the above-mentioned settings.
Automatic Soft pull on/off | Automatic Hard pull on/off | Behavior |
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ON | ON | As soon as the customer has |
filled in the first page of the loan application form and confirmed the disclaimer, the Soft pull is |
requested automatically . |
After the application has been approved and before the disbursement, the Hard pull is |
requested automatically . Soft pull or Hard pull can be requested manually by a |
back-office user at any point |
until the loan is archived. | ||
ON | OFF | As soon as the customer has |
filled in the first page of the loan application form and confirmed the disclaimer, the Soft pull is |
requested automatically . |
Hard pull can be requested manually by a Back-office user
Soft pull or Hard pull can be requested manually by a |
back-office user at any point |
until the loan is archived. | ||
OFF | ON | As soon as the customer has |
filled in the first page of the loan application form and confirmed the disclaimer, the Hard pull is |
requested automatically. Soft pull or Hard pull can be requested manually by a |
back-office user at any point |
until the |
loan is archived | ||
OFF | OFF | Soft pull or Hard pull can be requested manually by a |
back-office user at any point |
until the loan is archived. |
You should keep in mind, that Hard pull affects the credit history of the Customer.
Provider Specific Settings
The rest of the settings depend on a specific service provider, as described in the corresponding sections. (see Credit Bureau Settings for Specific Providers )