Vendor Priority Routing
Customers are unique, from their credit scores to their consumer needs. Of course, the depth of their credit history varies as well. The data required to grant credit to a customer with little or no credit history is very different from a customer who has an established credit history. Managing the data sources for these applications can be costly and time consuming.
Zoot’s data-agnostic vendor network gives clients the ability to prioritize data provider routing, as well as the intelligence to route additional vendor pulls. Applications can be routed based on the content, data received from vendors, and unique institution requirements. A wide variety of data sources are available through Zoot’s vendor network, eliminating the necessity for clients to accept an inferior or bundled data product because of connectivity or pricing barriers.
You may want to simply define backup vendors for your primary sources, or you may be interested in geographic (or zip code) preference. In cases where credit bureau data is insufficient, you may include other information to evaluate credit behavior, such as scores based on utility payments.
Any element of data can be incorporated into your routing process. For example, 80% of address mismatches are associated with fraud attempts. By evaluating data in the application and credit reports to identify when a mismatch occurs, we can trigger routing to a data source designed to address that need, in this case, an address or identity-verification service.
Institutions should not have to sacrifice the quality of your credit evaluation when using an automated solution. Zoot’s solution allows you to customize your routing process to facilitate customized, seamless credit analysis.
Contact Zoot at (406) 556-7555 or fill out our information request form today!
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