Credit Score
This feature performs soft credit checks without leaving a visible inquiry footprint on the applicant’s credit profile, reducing the impact on the applicant’s credit record.
Credit Decision
This new feature applies a predictive scoring model, known as the Credit Decision, that assesses the likelihood of an approval prior to submitting an application.
This model is built using a combination of:
The applicant’s current credit profile and Historical application data, including:
Approved vs. declined applications
Taken-up vs. non-taken-up credit
Various outcome trends across risk categories
By analysing these historical outcomes, Kredo Mobility has developed a scorecard that can predict a bank’s likely decision based on patterns and data points from similar profiles.
The current applicant’s credit data is then matched against this scorecard to generate a Credit Decision, helping determine whether the application is likely to be successful.