This section details the setup and usage of the Experian (formerly Compuscan) Version 2 integration within MAXMONEY, enabling microlenders to perform comprehensive credit enquiries and maintain regulatory compliance.

MAXMONEY Setups

To activate and configure Experian Compuscan v2 integration, follow these setup procedures:

1. Roles Setup

Define the necessary user permissions for accessing and utilizing Experian v2 functionalities.

Navigate to Setup > Security > Roles.

Edit the relevant user roles and ensure the following permissions are assigned:

Client: Change Force Compuscan

Compuscan Conflict Log

Compuscan Client Enquiry

Compuscan Non Client Enquiry

Print & Reprint a Compuscan Enquiry

Loan: Use Compuscan

Report: Compuscan Batch Successful Send Items Report (Botswana)

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 Compuscan v2 resources) to the appropriate users.

• Navigate to Setup > Security > Users.
• Select the desired users and link them to the roles that grant access to Compuscan functionalities.

3. Experian Setup (General)

Configure the core connection parameters for Experian.

• Go to Setups > MaxConsumer > Compuscan > Compuscan Setup.
• Branch Code: Enter the exact branch code provided by Experian (Compuscan). Do not include any preceding zeros.
• Username: Enter the username supplied by Experian.
• Password: Enter the password supplied by Experian.
• 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 the appropriate version. For this integration, ensure Version 2 is selected.
• Enquiry Validity for No of Loans: Enter the number of loans for which a single enquiry remains valid (e.g., 1 loan).
• Click Save.

4. Experian Version 2 Defaults (CCV2)

Set the default parameters specific to Experian Version 2 enquiries.

• Go to Setups > MaxConsumer > Compuscan > Compuscan v2 Defaults.
• Select Yes for the applicable options based on your Experian 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 specify Experian as the preferred choice for National Loans Register (NLR) updates.

• Go to Setups > MaxConsumer > MaxConsumer Setup.
• Select the Enabled checkbox to activate the module.
• For Preferred choice for NLR Reg/Updates: Select Compuscan.

Video Tutorial: MaxConsumer Setup

• For a visual guide on the MaxConsumer setup, watch this video: https://www.youtube.com/watch?v=L0TBmYr_1z8

6. Automatic Experian Enquiry

Configure the system to automatically initiate Experian enquiries where needed.

• Set the "Initial Enquiry Purpose" under Setups > MaxConsumer > Compuscan > Compuscan V2 Defaults.
• Ensure "Automate Compuscan Enquiry" is configured under Setups > MaxConsumer > Compuscan. The "Compuscan Version to Use:" must be V2.

Video Tutorial: Automatic Enquiry Setup

• For a visual guide on setting up automatic enquiries, watch this video: https://www.youtube.com/watch?v=qCcEqUCS6WE

7. Credit Enquiry Consent Document Setup

Ensure the consent form is correctly configured for credit enquiries.

• Go to Setups > Documents.
• Add or edit the "Credit Enquiry Consent Form":
• Name: Credit Enquiry Consent Form
• Type: Credit Enquiry Consent Form
• Language: English
• Enabled: Select this option.
• Use Master Document: Select this option.
• Master Document: Credit Enquiry Consent Form

Video Tutorial: Consent Form Setup

• For a visual guide on setting up the consent form, watch this video: https://www.youtube.com/watch?v=oeXfcmUwkno

Managing Experian in MAXMONEY

Client Consent

A critical prerequisite: The client (borrower) must sign a consent form for a credit enquiry to be performed. This consent is integrated into the standard MAXMONEY loan agreement (refer to Loan Agreement Page 1, Point 10 on "agree to and declare").

Client Settings (Force Compuscan)

To enforce a Compuscan enquiry for a specific client:

• Navigate to Client Administration > Search for a Client > Edit Client > Financial.
• Select the "Force Compuscan" checkbox and Save.

Client Enquiry

This function allows you to perform an Experian enquiry on an existing client within your system.

• Go to Client Administration > Search for an existing client.
• Highlight the client and click on the Compuscan-button.
• Important: A credit check is required before each loan as part of the affordability assessment, in compliance with NCR Regulations.

Video Tutorial: Client Enquiry

• For a visual guide on performing a client enquiry, watch this video: https://www.youtube.com/watch?v=mvGK3iy7mEM

Enquiry Versions

MAXMONEY supports two enquiry versions:

Enquiry Version 1 (Redundant)

• The branch code information should be automatically populated correctly when this screen displays.
• If an option is disabled, it indicates that the branch has not subscribed to that specific service with Experian.
• If an NLR enquiry is not selected, the NLR database will not be updated.

Enquiry Version 2

• Address Mandatory must be set to Yes in the setup.
• Only mark services as Yes if they have been activated by Experian for your branch.
• Client Consent: Select YES. An enquiry cannot proceed unless the client has provided their explicit consent.

Experian Credit Report Explained

• For a detailed explanation of the Experian (Compuscan) credit report, refer to the “CPSL CreditReport Explained Experian (Compuscan).PDF” document.
• A credit report typically comprises three main categories of information:
• Personal Information: Includes data such as the person's name, identity number, address, and telephone number.
• Current Commitments: Lists all the borrower's current credit commitments and their details. This allows credit providers to determine the borrower's total obligations and whether they can afford to take on more credit (affordability assessment).
• Payment Profile: Indicates how effectively the borrower manages and repays their debt. By combining the borrower's ability and willingness to repay debt, credit providers can make informed decisions about granting credit.

Data Types

• Positive Data: Comprehensive information reflecting a consumer's positive credit history, such as current accounts, balances, credit limits, and consistent repayment amounts.
• Negative Data: Details of non-payment by the consumer, including delinquencies, judgments, bankruptcy, debt write-offs, and late payments.

Match Results

• Definite Match: Confirms that the search criteria (identity number, name, and surname) match 100% with the credit bureau's database.
• Possible Matches: Contains information where minor discrepancies exist (e.g., a few digits of an identity number differ, or surnames don't match exactly due to events like marriage).

Previous Enquiries

• The report provides a detailed list of all previous enquiries made against the consumer's name, showing who accessed their credit report and when.

Credit Score

• A three-digit number generated by a credit bureau that assists credit providers in assessing the risk of doing business with a consumer. Its objective is to identify individuals or groups most likely to default on loan repayments. This score helps lenders decide whether to grant credit, how much to grant, and may influence pricing decisions or required securities for a loan.

Warning(s)

• This section summarizes any negative information on the consumer's credit report, serving as a highlight to alert the subscriber to potential risks.

Debt Restructuring

• A process for consumers facing cash flow problems or financial distress to reduce or renegotiate delinquent debts to improve their financial situation.

Adverse Information

• An account that has not received timely monthly payments or any payment at all. If a person defaults, the account becomes adverse. Information includes the company holding the loan/credit facility, account type, open date, status, last payment date, instalment amount, current balance, and opening balance.

Debt Collections

• Reflects instances where a credit provider is actively trying to recover monies from individuals or businesses for unpaid debts or accounts.

Notices

• The public records section indicates if legal action has been taken against the consumer due to non-payment of credit.

Defaults

• Refers to the failure to fulfill an obligation, such as repaying a loan or appearing in court. If a consumer fails to meet credit commitments, a credit provider can list them as defaulting.

CPA Accounts Summary

• Includes facilities such as store cards, credit cards, telecommunication accounts, and any loans provided with collateral.

Affordability Assessment

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

Thoroughly consider all information presented in the credit report before approving a new loan.

View Client Enquiry History

To view a list of all enquiries made for a client:

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

Non-Client Enquiry

Use this function to perform an enquiry on an individual who is not yet loaded as a client in MAXMONEY.

• Go to Non Client > Compuscan Enquiry > Do New Enquiry.
• Print the Consent form and ensure the borrower signs it.
• Complete the ID number on the enquiry form.
• If you later decide to add this individual as a client and grant a loan, you can link this enquiry to their new client profile and loan.

Video Tutorial: Non-Client Enquiry

• For a visual guide on performing a non-client enquiry, watch this video: https://www.youtube.com/watch?v=pc6rTKsg114

View Non-Client Enquiry History

To review past non-client enquiries and manage them:

• Go to MaxMoney - Non Client - Compuscan Enquiry - Browse Enquiry History.
• To migrate a non-client enquiry to a client profile, click the "Add to Client" button.
• To directly access the client profile of a migrated client, click the "Go to Client" button.
• To view details of who created a specific credit report enquiry, highlight the entry and click the "View Details" button.
• To add or view notes associated with an enquiry, highlight the entry and click the "View Details" button.

New Loan Process

When initiating a new loan:

• Go to Client Administration > Search for a Client > New Loan.
• Ensure the "Use Compuscan" checkbox is selected.
• Select the Experian Number from the dropdown list.
• If Automatic Experian Enquiry has been configured, the system will automatically initiate an Experian enquiry if required, based on your setup.

Experian Reports

Access various reports related to Compuscan v2 enquiries for detailed insights and auditing.

• Go to Reporting > Compuscan.

Available reports include:

• Compuscan Client Enquiry V2 Report: Provides a summary and details of client enquiries.
• Compuscan Batch Successful Send Items Report (Botswana): Lists entries successfully uploaded to Compuscan via after-hours batch processes for a specified date and client number range.
• Compuscan MIS Enquiry Report

Video Tutorial: Credit Check Enquiry V2 Report

• For a visual guide on using the Credit Check Enquiry V2 Report, watch this video: https://www.youtube.com/watch?v=zVAGHT8n2wk

Data Sharing

• Loan Registrations and Loan Updates are not processed in real-time. They fall under "Data Sharing" or "Data Batch Submissions".
• South Africa: Data sharing occurs through SACRRA’s Project EVO File Sharing, using File Layout 700v2.
• Namibia: Data sharing occurs through NAMFISA’s File Sharing, using File Layout CPLv1.

YouTube Training Videos

For additional visual guidance on Experian Version 2 Enquiry:

https://www.youtube.com/watch?v=3Tp-3XrHwrk

https://www.youtube.com/watch?v=SWYLctLtg3M

https://www.youtube.com/watch?v=q9pMsbylUZY