UMS external validation: Integration with TransUnion Canada
TransUnion Canada is a new validation service for Canadian Merchants.
Similar to TransUnion USA, TransUnion Canada validation service is based on the Credit Report containing data of Canadian consumers.
Additionally, ID Mismatch Alert and High Risk Fraud Alert Add-on products are provided.
ID Mismatch Alert highlights mismatches between input addresses and file addresses, invalid postal codes, Social Insurance Numbers, and surnames. It also indicates inquiry activity within the last 60 days in which there have been more than three inquiries.
High Risk Fraud Alert is designed to prevent application fraud, defined as providing fraudulent information on an application to obtain credit or a service.
TransUnion Canada settings are configured by the User in the UMS Template.
The results of the TransUnion Canada validation can be seen in the Application Preview Grid after the check has been performed by the service. CreditVision Risk Factor score reflects the Owner’s rating based on the analysis of the Credit Report information.
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;
- Registered Items: the individual Registered Item/Chattel data of the Owner;
- Banking: Owner’s banking information;
- Bankruptcies: information about the Owner’s bankruptcies;
- Legals: individual legal record information of the Owner;
- Collections: information about collection accounts;
- Inquiries: identification of the origin of inquiries that appear on merchants;
- ID Mismatch Alerts: highlighting individual ID mismatch error;
- High Risk Fraud Alerts: pinpointing suspicious and fraudulent data;
- Trades: information about accounts with merchants and financial institutions;
- Remarks: Consumer statements and Miscellaneous statements.