If you are considering subscribing to the CIP score from the credit bureau, this is an opportunity to “try before you buy”. You will see whether having access to the bureau’s credit score would have helped you identify high risk customers. Find out how your financial performance would have improved if you had rejected half of those high risk applications which were actually accepted.

If you are using your own internally produced credit scores, you can test it against the CIP score to validate the strength of your own models. You may also uncover gaps where there is a possibility to improve your internal scoring. Is there any type of customer that is difficult to accurately evaluate internally?

In some cases, where the necessary data is available, the Retro service can also be used to help you find unusual patterns in your manual underwriting processes. Such situations are often the result of internal fraud.