The Moscow Credit Bank was connected to the Express Scoring service from the Joint Credit Bureau

"The express Scoring" is developed for adoption of the fast solution on the request for the credit directly at the time of its giving or on a preliminary processing stage. Service relies on availability of the minimum information on the applicant — the Full Name and passport data — and does not require the appeal to credit history. The service in points estimates the request by the following parameters: relevance of the credit for the borrower, the current credit loading and payment discipline. By results Express of Scoring the credit institution makes primary partial decision according to the request: approve, refuse or send for detailed consideration.

Result

At the moment service is used for cross-sellings to already existing clients of bank. MKB tested Express of Scoring as primary filter within one of the existing product actions. About 10% of ineffective marketing activities for category of high-risk clients were as a result excluded. In the long term the bank considers the possibility of use of service and for remote sales channels — Internet banking and payment terminals.

"Implementation Express of Scoring allowed to cover segments of new clients for cross-sellings of credit products. The bank had an opportunity previously to estimate reliability and a debt load of the customer base and also its compliance to target segment — Alexander Shornikov, the associate director of Department of retail credit risks, MKB noted. — Now we do offers only to the clients interesting us and we exclude deniability in crediting after check of the borrower that minimizes reputational risks. It was succeeded to optimize also marketing costs, thanks to an opportunity to target the advertizing message only on those clients to whom we are previously ready to approve a limit. The main task which we are going to solve using service — achievement of level of approvals in cross-sellings at the level of 95-100% and also involvement of new clients via remote channels. At the moment we already managed to reduce operational cost value of these channels to 20%".

"The parameters 'Scoring Express' are optimal for all participants of lending markets and microfinance — Nikolay Myasnikov, the deputy CEO of experimental design bureau told. — Service is easily integrated into the strategy of decision-making accepted by financial institution according to the credit request. Within cross-sales banks have no need to request in bureau the full credit report on the client, but for the purpose of risk reduction and formation of the attractive offer it is necessary to know relevant credit load of the borrower and information on his possible cooperation with other credit institutions — it problems are solved by Express of Scoring".