Credit Report Integration Module

CommonGoals is pleased to announce that the Credit Report Integration module is now available!

Getting comprehensive information quickly is half the battle when reviewing each customer’s creditworthiness, and not having to reenter data into a separate application is a major benefit. Not only does the CRI module allow you to pull credit reports, but it also allows you to review the information multiple times and save it electronically.

The CRI module seamlessly integrates with TEA and provides consumer-based credit report retrieval from major consumer credit agencies (Equifax, TransUnion and Experian). It supports a wide variety of credit scoring models that accommodate nearly all types of lending institutions.

Credit report integration facilitates credit risk mitigation by incorporating credit scoring directly into the individual Client and Rolodex records, thereby expediting and lowering the cost of your loan appraisal, decisioning, underwriting, collections, and losses. In addition, reviewing the credit bureau data along with A/R metrics such as outstanding aged balances, and payment trends provides you with the tools you need to identify customer accounts that are escalating risks.

The Credit Report Integration module is the foundation of a fully integrated loan application and decisioning module that will allow organizations to define critical criteria related to their application process such as credit score, business acumen, personal acumen and financial ratios. In the near future, TEA will have the ability to analyze all relevant information and provide automated recommendations and decisions based on the criteria and norms you have defined within the application.

The CRI module is currently available in beta version and we encourage all organizations to take advantage of the benefits and efficiencies that integrating credit reports into TEA has to offer.

For more information on the Credit Report Integration module, please contact our sales department at (800) 354-5152 or send an e-mail to sales@commongoals.com.

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