gives system integrators a solid base for rapid implementation...

Internet and intranet applications

Credit reports have long been a separate step in the approval process. Stand-alone TTY credit terminals provided cryptic reports that had to be analyzed by experienced credit managers. Windows desktop software applications, and Internet access to credit reports have done little to make the reports easier to use. The process has remained largely separate from other business and financial applications, requiring rekeying of input, and manual analysis of the output.

With the MERit Credit Engine, credit decisions can become a built-in part of your system. It provides developers the tools needed to retrieve credit data, store it, analyze it, and report it.

Common applications for this technology:

• Online approvals
• Call-center instant decisions
• Custom scoring, application routing
• Identity and background verification
• Point-of-sale cross-selling opportunities
• Vertical market software integration.
• Rendering of credit reports.
• Integration with existing databases

Credit report data, when stored in database tables,   can be used to generate a score, and it provides historical data for developing new custom scoring models. In fact, software is available to build, train and test custom credit scoring neural networks.

Mortgage lenders and brokers are a major beneficiary of the MERit Credit Engine technology, as it allows for custom integration into complex systems.  Web-enabled Internet and intranet applications which combine sophisticated routing, data transformations, communication with funding sources, and loan processing software are all possible because of the the credit engine's ability to handle credit reports, as well as the individual data elements within the reports.

The credit engine can also be a key resource for the development of systems in automobile financing, credit unions, leasing, telephone and cellular phone companies, credit dentistry and laser procedures, property management, and insurance underwriting.