Overview

The integration between MAXMONEY and Compuscan is a critical feature that facilitates the exchange of credit information. This connection is essential for performing accurate affordability assessments, combating over-indebtedness, and ensuring regulatory compliance.

MAXMONEY is integrated with both Compuscan Sigma and Compuscan Version 2. For specific procedural steps, please refer to the detailed "Compuscan Integration" guidelines.

Compuscan Integration (RSA)	Description	Documentation
Compuscan Sigma	Experian Credit Check with Scoring	Sigma Enquiry
Compuscan Version 2	Experian Credit Check	Version 2 Enquiry

MaxMoney also has the following Credit Report Integrations:

Credit Report Integration	Description	Documentation
XDS (RSA)	Credit Check and Pre-Check	XDS
VeriCred (RSA)	Credit Check	VeriCred
CreditInfo (Namibia)	Credit Check	CreditInfo (New)

Video Tutorial

• For a visual guide on how to do a credit check, watch the video link - https://www.youtube.com/watch?v=OUrj9549Hlc
• For a visual guide on how to do a credit check and add a budget, watch the video link - https://www.youtube.com/watch?v=wqAbQ4Xa78E

Regulatory Compliance (South Africa)

As per the Affordability Assessment Guidelines of the National Credit Act, all South African credit providers have a legal obligation to report credit information to a registered Credit Bureau like Compuscan. The availability and accuracy of this information play a significant role in responsible lending.

Key Reporting Requirements

All credit providers must report the following to the credit bureaux:

• The details of all new or closed credit agreements.
• The monthly account history (payment profile information) for every credit agreement.
• Crucially, this account history must be updated within 48 hours of a client defaulting on a payment or making a payment.

Official Legal References

For complete details on your legal obligations, please refer to the following official documents:

• The National Credit Act No. 34 of 2005 (specifically Sections 70-73).
• The National Credit Amendment Act, 2014 (specifically Chapter 3, Regulation 23A regarding Debt re-payment history).