CashMarket's top notch borrower screening process is one of the most advanced in the industry. It is fully digital and automatic, and it gives us reliable information about applicant's ability to pay back his/her loan. Process takes only seconds and includes automatic IBAN retrieving: user does not need to input IBAN on the loan application which makes it easier to apply loan on the move.
Below is a flow description and roles between CashMarket and local partner.
Credit bureau data
ENTRIES ON CREDIT REGISTER
Real time access to local credit bureaus allows us to check possible entries and risk class.
IBAN source data
We will retrieve applicant's bank transaction data from previous months.
Categorizes transactions in a form it can be easily analyzed by an automated engine.
Positive credit register
If such database is available, retrieving behavior data from customers' previous loans.
If such database is available, retrieving invoicing status data regarding customers' previous loans.
External scoring results - customer list and behvior anayses maintained by partner who’s core is scoring.
INHOUSE SCORING ENGINE
SUMMARY AND DECISION
Receives data from 1-7 and makes an instant credit decision.