CIPA+ calculates an application score and combines it with the credit bureau data and then displays the summary result such as “Accept/Decline/Refer” as well as the detailed information on evaluated input and external information, business rules and cut-offs.
The user will be required to input data in approximately twenty fields that describes their request for credit, income and expenditure, employment status and personal status. A scorecard will then assess this information together with the Credit Bureau data. This scorecard is statistically developed and as new data is gathered a series of enhancements will be made. Data captured through this interface will not be available to other subscribers.
Each subscriber that chooses to use this tool as a solution will be required to assign the business rules that is related to their Risk Management Policy. Creditinfo will work with the subscriber to select and allocate parameters to each of the possible fifty business rules available. The business rules can either be set to assign a decline or refer status. For any application, the decline rule will take priority for the recommended decision. For those applications that hit neither decline nor refer business rules will have a recommended accept status.
Subscribers may elect to use the recommended decision as “a second opinion” or as “a definitive decision”