PreScreening

Best practice in credit marketing

Pre-screening is a credit filtering process which can be applied to both consumer and commercial campaigns.

It enables credit providers to screen out prospects whose credit risk profile suggests they may not meet lending or other credit criteria relevant to the product being offered. Pre-screening helps financial institutions to employ responsible lending practices.

It is only available to credit providers registered with the Veda Advantage Credit Bureau.

 

Customise criteria for a better approval rate

Pre-screening criteria can be generic or customised. Generic pre-screening filters out those prospects with recent adverse credit events, as well as all individuals under 18 or over 65.

However, the closer the pre-screening criteria mirrors a lenders application policy rules and scorecards, the better the campaign approval rates achieved.

Customised pre-screening criteria can be used to mirror a lenders application scorecard, thereby increasing approval rates. 

Customised criteria include modification of age criteria or adding more stringent credit criteria.