Main challenges every consumer finance company is facing

2019-10-02 credit bureau

Once opening a consumer finance company few entrepreneurs consider the usage of credit bureua as a source of data. Points to consider:

a) pricing - how much does such an database cost

b) implementation to the system - can we implement data to our the system, how often can we do that and what kind of data do we need to match

c) usability of the data - does it mean we will not offer financing to the debtor not paying his debt or we add aditional collateral, guarantor, higher pricing, higher initial purchase contribution, higher bonus from resaller, we push insurance....

d) monotoring of the data....does it mean once we approve we dont check anymore or we keep checking

e) database usability....can we put analytical request to the datase?

f) self entry to the database .... can we also suggest a change in database following our data?