MoneyMan was connected to service on on-line of identification of individuals – IDV

MoneyMan was connected in the spring of 2013 to the service provided to the Joint Credit Bureau (JCB) on on-line of identification of individuals – IDV.

MoneyMan specializes in small short-term loans, and the potential client for receiving the credit does not need to leave the house at all: money can be received transfer to the card of any bank in read minutes. Because the decision on issuance of credit is made completely remotely, for MoneyMan it was essentially important to find the qualitative solution on on-line of identification of the client which would allow to define that the borrower who makes a request for the credit really is that for whom it issues itself(himself). Cooperation with experimental design bureau in this question was fundamentally important for MoneyMan business model.

"Selecting service on on-line of identification, MoneyMan initially used service of other credit bureau, - Dunayev Alexander, the Development director of MoneyMan tells. - However it was necessary to refuse the selected solution. First, was very low hit reyt (level positive responses to a request) – lower than 40%. Hit reyt IDV service from experimental design bureau essentially higher and makes 67%. Moreover, service of other bureau differed in rather high instability in terms of formulation of questions. Because of frequent technical failures users, even knowing the credit history, could not receive adequately high scoring ball which would allow them to get approval on issuance of credit".

Alexander Dunayev characterizes cooperation with the Joint credit bureau as follows: "On behalf of experimental design bureau MoneyMan received reliable service provider thanks to whom the company could automate the business process as much as possible. The next important point is that besides that experimental design bureau – the reliable partner, bureau provides high-quality services that affects high hit fly thanks to what the company loses the smaller number of borrowers. In other words, what is called errors of "the first type" when the company mistakenly considers the client "bad" is excluded from business process, and it is actually quite reliable. And the last not less important point - thanks to IDV MoneyMan service truly identifies potential borrowers that influenced in general decrease in level of credit fraud".

For IDV MoneyMan Service – the pilot client. The first performance indicators will be published at the end of April. The most anticipated result, certainly, indicator of decrease in level of fraud. So far it is possible to sum up the following results. After MoneyMan began to use experimental design bureau service the level of "absences on contact" of the borrower decreased by 85% – it is about impossibility to phone to the client according to biographical particulars, especially when collecting problem debt.

The experimental design bureau is a source of valuable information for MoneyMan, and the services provided to bureau allow to automate completely decision making process according to the request for the credit. Information obtained from experimental design bureau allows to monitor quickly process and to change logic of decision making according to postupayemy requests for the credit. Not the only experimental design bureau, MoneyMan service also uses IDV Scoring of Bureau of Generation 3, and in the next plans – connection to service of prevention of application fraud National Hunter.