Overview

This section outlines the setup and usage of the CreditInfo (Legacy) integration within MAXMONEY. This system is specifically designed for handling Experian (Compuscan) enquiries in Namibia.

Before you can utilize the CreditInfo module, the following one-time setup procedures must be completed.

Scope

• Namibia-Specific: Changes have been implemented to support Compuscan Sigma enquiries specifically for Namibian legal entities (merchants).

• Important: Compuscan V2 is not compatible with this integration. Merchants must be migrated to Compuscan Sigma.

• Country: This integration is currently available only for Namibia.

Procedure: Onboarding and Activation

To initiate the CreditInfo integration, follow these steps:

1. Micro-Lender Indication: The micro-lender must formally express their intent to use the CreditInfo-MAXMONEY integration.

2. Sign-up: The micro-lender needs to complete the sign-up process with both Mycomax and CreditInfo.

3. Activation: Once CreditInfo confirms receipt of the integration form and the micro-lender has received their branch code, username, and password from CreditInfo, Mycomax can proceed with activating the CreditInfo module in your MAXMONEY system.

MAXMONEY Setups

Once MaxAdmin configuration is complete, proceed with the following setups in MAXMONEY:

1. Roles Setup

Define the necessary user permissions for accessing and utilizing CreditInfo functionalities.

• Navigate to Setup > Security > Roles.

• Edit the relevant user roles (e.g., "Loan Officer," "Credit Manager").

• Grant access to the following resources:

  • Client: Change Force Compuscan

  • Compuscan Conflict Log

  • Compuscan Client Enquiry

  • Compuscan Non Client Enquiry

  • Print & Reprint a Compuscan Enquiry

  • Loan: Use Compuscan

  • Report: Compuscan Client Enquiry Report

  • Report: Compuscan Non Client Enquiry Report

  • Setup: Compuscan Setup

  • Compuscan Set Enquiry Purpose

2. Users Setup

Assign the configured roles (which include the CreditInfo resources) to the appropriate users.

• Navigate to Setup > Security > Users.

• Select the desired users and link them to the roles that grant access to CreditInfo functionalities.

3. CreditInfo General Setup

Enter the unique credentials provided to your entity by CreditInfo.

• Go to Setups > MaxConsumer > Compuscan > Compuscan Setup.

• Branch Code: Enter the exact branch code provided by Compuscan. Do not include any preceding zeros.

• Username: Enter the username supplied by Compuscan.

• Password: Enter the password supplied by Compuscan.

• Confirm Password: Re-type the password for verification.

• Enquiry Validity Period: Specify the number of days for which an enquiry result remains valid (e.g., 1 day).

• Compuscan Version to Use: Select SIGMA.

• Enquiry Validity for No of Loans: Enter the number of loans for which a single enquiry is valid (e.g., 1 loan).

• Click Save to apply the settings.

4. Sigma Defaults

Set the default parameters specific to Sigma enquiries.

• Go to Setups > MaxConsumer > Compuscan > Compuscan Sigma Defaults.

• Select Yes for the applicable options based on your CreditInfo agreement and needs:

  • Credit Data

  • CPA & NLR Data

  • CompuScore

  • Address Mandatory

  • Do Affordability

  • Run Compuscan Codix

• Click Save.

5. MaxConsumer Setup

Enable the MaxConsumer module and set Compuscan as the preferred choice for NLR.

• Go to Setups > MaxConsumer > MaxConsumer Setup.

• Select the Enabled checkbox to activate the module.

• For Preferred choice for NLR Reg/Updates: Select Compuscan.

Managing CreditInfo Enquiries in MAXMONEY

1. Client Consent

The client (borrower) must sign a consent form before any credit enquiry is performed. This consent is typically part of the latest standard MAXMONEY loan agreement and must also be selected when initiating an enquiry.

2. Client Settings

To enforce credit enquiries for a client:

• Navigate to Client Administration > Search for a Client > Edit Client > Financial.

• Select the “Force Credit Enquiry” checkbox and Save.

3. Client Enquiry

Use this function to perform an enquiry on an existing client in your system.

• Go to Client Administration > Search for an existing client.

• Highlight the client and click the Compuscan-button.

• A credit check is mandatory before each loan as part of the affordability assessment, as per NCR Regulations.

• Important Consent Notes:

  • Address Mandatory must be set to Yes.

  • Only mark services as Yes if they have been activated by CreditInfo for your branch.

  • Client Consent: Select YES. You cannot perform the enquiry unless the customer has provided consent.

4. Credit Report Highlights

The credit report helps credit providers determine a borrower's existing credit commitments and their ability to take on additional credit (affordability assessment). Focus on:

• Current accounts and balances, credit limits, and repayment amounts.

• Non-payments, delinquencies, judgments, bankruptcy, written-off debt, and late payments.

• "Definite Match" and "Possible Matches" indicators.

• Credit Score.

• Warning(s).

• Debt Restructuring information.

• Adverse Information.

• Debt Collections.

• Notices.

• Defaults.

5. Affordability Assessment

• When preparing a budget, factor in the existing Loan Repayments from the credit report.

• Carefully consider all information on the credit report before granting a new loan.

6. View Client Enquiry History

To review a client's enquiry history:

• Go to Client Administration > Search for a Client > Edit Client > Compuscan.

• A list of all client enquiries will be displayed.

7. Non-Client Enquiry

Use this function for enquiries on individuals not yet loaded as clients in your system.

• Go to Non Client > Compuscan Enquiry > Do New Enquiry.

• Print the Consent and ensure the borrower signs it.

• Complete the ID number on the Enquiry form.

• If you later add this individual as a client and grant a loan, you can link this enquiry to the new loan.

New Loan Process

When creating a new loan:

• Go to Client Administration > Search for a Client > New Loan.

• The “Use Compuscan” checkbox must be selected.

• Select the CreditInfo Number from the dropdown list.

• If an Automatic CreditInfo Enquiry has been set up, the system will initiate a CreditInfo enquiry automatically if needed, based on your setup configurations.

CreditInfo Reports

Access various CreditInfo reports for detailed insights:

• Go to Reporting > Compuscan.

Data Sharing

• Only loan statuses are shared, not client statuses.

• Refer to the SACRRA documentation for more detailed information on data sharing protocols.