- by Patrick Cooney on 29/10/2020

With the Central Credit Register (CCR) now in operation for almost two years, any licensed money lender, local authority (county councils etc.) and entities that provide business loans have had to request a CCR check on any application of E2,000 or more. Over the last two years more and more Banks, Credit Providers and Credit Unions have utilised CRIF Gateway to perform these checks.

The 'Gateway' is an innovative connectivity engine which simultaneously searches multiple data sources (and credit bureaus), to access a cleaner, more user-friendly, single view of a loan applicant, individual or company, while at the same time leaving a traceable digital footprint, ensuring compliance with Section 14 of the Credit Reporting Act.

What Is Covered?

CRIF Gateway gives user access to multiple data sources from one location based on logical flows and can be customised to include further datasets in your risk assessment processes and systems.

Datasets Searched in CRIF Gateway include:

- Central Credit Registry (CCR), leaving a digital footprint

- Irish Credit Bureau (ICB)

- CRIFVision-net Credit Reports (Business and Consumers)

- Personal Insolvencies

- Bankruptcy Service of Ireland

- The Bad Debt Judgement Registry

- Disqualified and Restricted Persons Registry

- Business Ownerships

- Directorships (if applicable)

Intuitively, CRIF Gateway automatically removes duplication of content from the above datasets to deliver a single consolidated view of data. What is returned is a cleaner, user-friendly, single report on an individual or company.

How It Works

By optimising workflows and automatically removing duplication at each stage of a Credit Bureau search, CRIF Gateway delivers significant savings and minimises manual searching, processing time and the overall compliance draw on an organisation's resources. Here's an example of the solution in action...

1. Once the details of the applicant are submitted by the lender, the Gateway queries the Central Credit Register, Irish Credit Bureau and CRIFVision-net Credit Reports (for both Businesses and Consumers)

2. The CCR and ICB Reports are compared and merged to eliminate duplication (a huge time-saver which removes the need for manual comparisons of the data by analysts).

3. The newly combined CCR/ICB report and the CRIFVision-net Credit Report are interpreted by the 'Strategy One' decision engine which calculates various risk indicators to automatically recommend the next steps, while also producing a customised data feed for your system and/or users.

This powerful decisioning tool is available via API with data being returned in XML or PDF as required.

Who Should Use CRIF Gateway?

*Any Lender who is required to query the CCR...

- Asset Finance Houses

- Banks

- Credit Unions

- Firms who acquired loan books from an Irish Bank

- Licensed Moneylenders

- Local Authorities

- NAMA

If you want to enjoy significant workflow efficiencies, task elimination, streamlined processes and overall reduction and draw of organisational resources by up to 60%, simply get in touch today by Tel: 01 903 2660 or Email: info.vision-net@crif.com

*Provided they are eligible to do so, i.e., respectively, they qualify as a CIP (Credit Information Provider) according to the Credit Reporting Act and they are a member of the Irish Credit Bureau. The CRIF Gateway accesses these databases on behalf of the lending organisation; charges for the data consumed with the data providers stay with the enquiring organisation.

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