NZ Credit Reporting Privacy Code; updates to support confirmation of Quotation Credit Enquiries

finPOWER Connect now supports confirmation of Quotation Credit Enquiries for Centrix and Equifax (Veda) in New Zealand.

From 1st October 2019, where risk-based pricing for a credit product is used, and it involves obtaining access to credit information to fix the price offered, the Credit Enquiry must be done as a "Quotation Credit Enquiry".

If that Loan is subsequently taken up, the Quotation Credit Enquiry can then be "confirmed" with the credit provider.

This change adds the functionality to confirm Quotation Enquiries.

When the Account is "Opened" this automatically occurs.

However, if the request to confirm the Credit Enquiry at the Credit Bureau fails, e.g. the service is down, the Account will display a warning "Quotation Credit Enquiries not confirmed." and an action "Confirm Quote Enquiries" will appear on the Account form. Use this to manually confirm Quotation Enquiries for an Account.

Note, the Credit Enquiry Summary Page will display a "Quotation Status" line. This will be "Pending" or "Confirmed on [date/time] for Account [code]" with a hyperlink to open the related Account.