Credit Bureau Gateway is an application that connects with the credit bureaus in order to receive information regarding the risk involved in crediting a certain individual, based on their banking history. The application collects the data from the bank’s system, converts it into predefined formats and reports to the credit bureaus, ensures communications with these, collects data from and interrogates credit bureaus databases.

The information transmitted through CBG follows the implementation phases of credit bureaus:

• Negative information – information contained in the Black List – information on bad debtor individual clients (with bad debt greater than 30 days), fraudulent clients and clients with inadvertent documents.
• Positive information – list that contains information on payment behavior of clients.
• Value-added services – credit scoring, alarms on certain events

The application is also designed to improve the individual credits portfolio by selecting credit applicants based on their banking history through real-time interrogations in credit bureaus.

The application incorporates a Buffer module that stores, for a predefined period of time, the results received from previous interrogations for credit bureaus. If the bank has previously verified the applicant at the credit bureau, the verification is recorded by CBG in Buffer. The application first checks for the applicants in the Black List and Buffer. If the credit applicants’ data cannot be found in these two databases, the application will interrogate credit bureaus according to the risk matrix. Verifying the applicants in Buffer reduces the number of interrogations addressed to the credit bureaus by eliminating pointless interrogations.

Features
The CBG application has the following features:

• Collects and transfers data to the credit bureaus
• Checks credit applicants according to the risk matrix (parameter levels included in the risk matrix are editable)
• Monitors the data transmission between the bank and the credit bureaus.

Benefits
The benefits of the application are:

• Diminishing credit risk
• Improve the retail credits portfolio
• Reduce bad debt and retail lending fraud volume
• Minimizing credit bureaus interrogation costs through the elimination of unnecessary verifications