Bureau Preference Routing
Data in Time
When a financial institution’s (FI’s) chosen credit bureau temporarily goes down or returns a thin file/no hit, it is time consuming, unproductive, and awkward for both business users and consumers. FIs need to evaluate credit bureau data, quickly and consistently, in order to make effective decisions as well as provide good customer service. To avoid lapses in data access for clients, Zoot’s infrastructure provides premier uptime through triple redundancy, a distributed network, and dozens of established connections to data and service providers.
Data by Place
In addition, many FIs find that bureau data is more accurate geographically. With Zoot solutions, institutions have instantaneous multibureau connectivity, allowing them to define which bureaus to call, in which order, as well as what to do in the case of inadequate data available for a customer. Zoot makes sure your institution has access to the data you need, when you need it.
More Data Means More Customers Can Be Reached
In addition, Zoot’s bureau preference routing capabilities make it possible to go beyond bureau connectivity and switch to our underserved approach, which our subject matter experts developed through industry analysis and insight into how to reach new markets. It is estimated that one third of all consumers have inadequate credit data and will fall into the underserved category. Zoot provides institutions with access to data to evaluate credit risk through a process that incorporates alternative data sources and application data.
There is no single data source that can meet all of the credit decisioning needs generated by today’s market. Zoot’s tools, services, solutions, and infrastructure have been developed based on twenty years of experience serving the leading and most innovative FI’s complex data and decisioning requirements.