Overview
A retrospective data and score extract project is undertaken to allow you to evaluate the effectiveness of Veda Advantage's consumer and commercial data and bureau scores. An analysis is conducted on your data from a specific timeframe and the scores are retrospectively provided to enable credit risk evaluation of previous applicants. The outcomes of the analysis are compared against actual business outcomes.
Retrospective bureau scores can assist your business by:
- Improving profitability
- Improving strategic decisions
- Improving portfolio and management control through consistent and objective decision making
- Achieving Basel II Compliance.
Dynamic and up-to-date risk estimate based on bureau data at point of application are available through retrospective data and score extracts.
Incorporating the bureau data and scores in portfolio and scorecard evaluations or in the development of new models helps to increase the discriminating power of a scorecard and ensures that the "best" model is developed.
A retrospective bureau scoring project helps to determine the effectiveness of current scoring models.
A retro bureau extract can be provided in the form of the bureau score as well as raw data.
Cut-off strategies can be set based on the bureau score enabling credit applications to be automatically accepted, referred or declined.
The retrospective bureau score is based on comprehensive data contained in the Veda Advantage Credit Bureau. This score reflects credit enquiries performed at any institution giving you visibility of all the credit activity of a potential borrower and a much improved profile of the inherent risk associated with that customer.
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