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 provides
consumer debit information through Experian's Cross View.
New-Account Banking Solutions, and Lending Solutions for Applicants with No
Credit History
The DebitBureau database maintained by eFunds for its ChexSystems
Service is the the most comprehensive source of checking account behavior data
available, and the MERit Credit Engine gives you the power to include this
valuable information in your decision processes.
- Conditional Access. When a request for an Experian credit
report results in no record, or a consumer's credit file contains no
trades, data from the eFunds DebitBureau database can be returned
instead - to verify identity information, and to determine the
consumer's handling of responsibility with past checking accounts.
- Direct Access. The MERit Credit Engine can access the eFunds
DebitBureau database through Experian's Cross View, instead of a credit
report, in addition to a credit report, or simply as a score.
Experian's Cross View Data includes...
- Consumer Identification (name, address, date of birth, home
phone, work phone and social security number)
- Inquiries (bank name and data of inquiry)
- Non-Sufficient Funds (bank name, check number and check
amount)
- Closure history (bank name, date of closure and amount)
- Cross View Score, predicting credit risk over a 12 month
period, based on the eFunds DebitBureau data.
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Making Debit Bureau Data Useable
Of importance to developers and system integrators, the MERit Credit
Engine provides access to the eFunds DebitBureau data through simple SQL
queries. In addition, it can render the human readable reports, for printing or
display.
Benefits
The MERit Credit Engine provides a unified approach for retrieving and
handling credit, as well as debit consumer histories, thereby reducing
development cost.
The inclusion of checking account behavior...
- Provides consistency in evaluating emerging consumers and the "no
hit" or "thin file" population without bias.
- Provides a more complete view of a consumer’s payment habits
- Expands the universe of creditworthy applicants and prospects
- Manages risk and speeds decision making
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