Pre-qualify without harming the score
Your conversion depends on giving applicants a fast, honest steer, and your reputation depends on not marking their file for products they do not take. Pre-qualify on a soft credit view, with trended data and affordability behind it.
The pre-qualification squeeze
A credit broker lives in the gap between an applicant's hope and a lender's criteria. Send someone to a lender who declines and you have wasted the applicant's time, your relationship with the lender, and a hard search on the applicant's file.
Applicants increasingly understand footprints, and a broker who dings their score to show them options they do not qualify for loses trust fast. Soft-search pre-qualification is now the expectation, not a nicety.
You also need the steer to be right. A snapshot that misses a rising balance or a tightening budget sends people to the wrong lender, and your acceptance rates tell the story.
The job is to pre-qualify accurately on a soft view, read the direction of travel, and sense-check affordability, so you route each applicant to a lender likely to say yes.
The data that fits
Route each applicant to the right lender.
Pre-qualify on a soft, quotation search with no footprint and no effect on the applicant's score.
Direction of travel, so you match the applicant to a lender whose criteria they actually meet.
A modelled affordability read to sense-check the match before you route.
Through Credit Canary
An applicant enters their details, a soft CallReport and TrueVision return a credit view and its direction without a footprint, and TU Affordability sense-checks affordability. Your rules route them to the lender most likely to accept. The hard search happens at the lender, only once the applicant proceeds.
One integration, at a better rate, with the soft-search decision in principle wired so conversion and the applicant's file are both protected.
Related
Credit data for credit brokers: FAQs
No, on a soft (quotation) search. It returns the credit view with no footprint and no effect on the applicant's score.
Trended data and affordability help you match each applicant to a lender whose criteria they meet, so fewer are declined.
At the lender, when the applicant formally applies, not during your pre-qualification.
Yes, for a permissible purpose. We set it up once across the products you use.
Protect conversion and the file
Tell us how you pre-qualify and route, and we will quote the soft credit view, trended data and affordability on one integration, at a better rate.