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Multi-bureau Decisioning

Adding value to any risk decisioning process

Why would you want to adopt a multi-bureau approach?

There is little difference in the data held by the three UK credit bureaux, yet a search on each almost always produces different results.  The attached article explains why.

Therefore, if you want to have a complete view of an applicant’s credit commitments and be confident you are going to treat them fairly by making the correct lending decision, you should be looking at a multi-bureau approach.

The table below is a real life example of the issue. 

Current BalanceBureau 1Bureau 2Bureau 3DecisionMetrics
Multi-Bureau View
Account 1 362   362  362
Account 2 244  244   244
Account 3 7,287  7,287 7,287 7,287
Account 4 7,708  7,708 7,708 7,708
Account 5     1,415 1,415
Total 15,601 15,239 16,772 17,016

DecisionMetrics' advanced multi-bureau processing retrieves the raw data credit reports from each bureau and de-duplicates them to create a single consolidated credit report. This data is then used to calculate a coded block that is completely independent from the credit bureaux, thereby allowing credit bureau independent scorecards and credit policy to be developed. Clearly, the net result is more accurate decisioning but the significant difference is that the lender can achieve this using the data from any single credit bureau or any combinations of bureaux.

How can I implement multi-bureau?

Changing bureau supplier, implementing multiple bureau calls or selectively using different products from different bureaux has never been easier. The historical issues of impact to downstream systems is removed and even the training headache for Underwriters related to new data formats is no longer an issue, as the data is always presented in a consistent format irrespective of which bureau(x) is used.

We have the experience, the products and the know how to help you achieve a fully operational multi-bureau environment in less than 22 weeks!

Ask us anything about multi-bureau and how we can help your business. Contact us today to speak to one of our experts.

Why multi-bureau?

Of all Defaults registered, only 57% are common to all three bureaux. A single search will find up to 81%, whilst a second search will increase the hit rate to 94%. 

 

Whilst a single search will find up to 88% of applicants matched on the Electoral Roll at current address, only 72% are common to all three bureaux.  A second search increases the match rate to 94%. 

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