Centrix Bureau Score
Available from finPOWER Connect version 2.03.03.
finPOWER Connect now incorporates the new Centrix Bureau Score in Consumer Product Enquiry reports using the Centrix New Zealand service.
The Centrix Bureau Score has been developed by Experian, a leading global information services company, and it predicts the odds of an Account going into a "bad state" in the next 12 months due to:
- 90 days+ in arrears
The Score can be used to assist in credit decision processes and it can result in faster, more accurate, and more consistent credit decisions.
Implementing ongoing Account Credit and Payment history recording
Available from finPOWER Connect version 2.03.02.
finPOWER Connect can be configured to show a graphical representation of a Loan Account's ongoing Credit and Repayment history. It reflects where the Loan is being paid "as agreed", and highlights where the Loan has fallen overdue.
The idea is that at the end of each month a "Rating" for the Account is calculated, e.g. a "0" means not overdue, "1" means less than 30 days overdue, "2" means less than 60 days overdue etc. This way a diagram can be displayed showing the Rating History for an Account over time.
This provides a quick and easy way to visualise how the Loan has progressed through its life - it is very easy to see bad Loans.
Updating Software Versions, Depositors Module Webinar
The latest Dealer Webinar covered a range of topics.
Website Refresh, Page Sets and Message Handler Webinar
Each fortnight we conduct a Webinar with our Dealer network to highlight a few areas of finPOWER Connect that are new or offer significant benefits to clients.