TransUnion recently rolled out to First National Bank's (FNB's) Home Loans division an enhanced version of its QuickCheck mobile application.
QuickCheck is a comprehensive, sale-initiated risk assessment solution that now leverages the latest developments in mobile technology and TransUnion's advanced analytics and decisioning.
The solution provides FNB sales agents with the ability to check a potential client's viability for a home loan away from the office by using a cellular phone or Web connection.
QuickCheck increases transparency for the client in the credit granting process, helping to effectively manage home loan applications that are likely to fail before they enter the system. QuickCheck also leads to more effective and efficient use of the sales agent's time, focusing time, resources and energy on transactions that are likely to be successful.
Client affordability checks are also included in the solution in order to cater for National Credit Act compliance. QuickCheck runs on an agile automated decisioning engine platform that balances the risks and rewards of lending.
Ryan Prozesky, Head of Credit and Pricing at FNB Home Loans, commented: “The value of QuickCheck lies in the mobility of the solution. The home loan application's turnaround times have been improved and greater efficiencies have been achieved, which translates into a better service experience for our customers.”
Thamir Hassan, CEO of TransUnion Analytic and Decision Services (ADS) in South Africa, added: “QuickCheck's ease of use and transaction speed has been greatly increased, which has significantly improved application to bond conversion ratio. This enhancement has further enabled FNB to stay ahead of the market demand and the dynamic mobile technology curve. We look forward to continuously strengthening our partnership with FNB.”
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