i-Bureau
Combining the skills and experience of an analytics company, DecisionMetrics and a software company, iMeta has facilitated the development of i-Bureau, a product designed to provide the complete solution to the implementation of multi-bureau strategies.
i-Bureau interfaces with a lender’s existing application processing or decisioning solution and provide links to the databases of the three consumer credit bureaux, Callcredit, Equifax and Experian. It has the facility to define the primary, secondary and, if required, tertiary credit bureaux to be used and the criteria under which it will automatically invoke a second search.
Having executed the credit bureau search and retrieved both summarised and raw credit bureau data, i-Bureau then utilises DecisionMetrics’ DecisionBureau system to provide the sophisticated aggregation routines necessary to present the data in a format which is more easily utilised within a lenders credit policy.
Should a lender’s systems be configured solely to use data in the format of one particular credit bureau, i-Bureau can provide the data of the second bureau in a format so that existing systems and scorecards can operate seamlessly irrespective of the credit bureau used. This standardised format can also be used to present the data to Underwriters in the format that they are familiar with, thereby eliminating the burden of re-training staff to use the data of a different credit bureau.
Not only can i-Bureau provide bureau links, aggregation of criteria and data reformatting, it can also process scorecards, apply lending policy rules, calculate the Indebtedness and AffordabilityMetrics and apply credit limits and terms of business. The solution is completely modula allowing lender's the ability to choose a configuration to meet their needs.
i-Bureau has been packaged as a Web Service and is available as either a hosted solution or a software implementation.
