TransUnion External Validation Service Integration
A new UMS external validation service – TransUnion – has been added to the system.
TransUnion allows to check the merchant’s credit profile data for US merchants. TransUnion provides personal information (name, addresses, date of birth, and Social Security number), employment information, and credit history.
TransUnion check conditions are configured by the User in the template
The results of the TransUnioin validation can be seen in the Application Preview Grid after the check has been performed by TransUnion.
VantageScore credit score reflects the Owner’s rating based on the analysis of the Credit Report information that is predictive of certain behavior. The decision on Application status (approved/disapproved) depends thereon.
More detailed information on validation results is given in the Credit Report.
The Credit Report contains the following subsections:
- Credit Summary: providing the totals of public records, collections, inquiries, and different types of accounts found on the consumer’s file along with aggregated amount data for a specific type of credit account;
- Public Records: public record data;
- Collections: information about collection accounts;
- Inquiries: identification of the origin of inquiries that appear on merchants;
- ID Mismatch: highlighting mismatched addresses, invalid ZIP codes, SSN (Social Security Numbers) mismatch conditions, and inquiry activity;
- TruValidate Fraud Alerts: pinpointing suspicious and fraudulent data;
- Trade Accounts: information about accounts with merchants and financial institutions.