Credit Bureau integration allows back office users to request a credit check. The type of check (soft pull or hard pull) and the moment when the check is performed depends on the account settings
Access Settings
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 their websites and described or referred to in the corresponding documents below.
Common Credit Bureau Settings
All credit bureau service providers support Hard pull. If the “Automatic Hard pull” flag is 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.
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 |
|---|---|---|
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 . 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 )