This section details the primary configuration area for VeriCred within the MaxConsumer module, covering credential management, business rules, and automated loan restrictions.

2.4.1 Credential and Connection Setup

This area defines how your VeriCred login details are managed across your organization.

Navigation: Setups > MaxConsumer > MaxConsumer Setup

• VeriCred Setup Type: Choose how VeriCred credentials will be applied:

  • Merchant: Select this option if all branches under your legal entity will share and use the same VeriCred login details.

  • Branch: Select this option if each individual branch will utilize its own unique VeriCred login details.

• VeriCred Password Expiry Email User: Select a specific user from the dropdown list. This designated user will receive an email notification when the VeriCred password is due to expire within the next 10 days.

2.4.2 Enquiry and Business Rules

Configure the default settings for VeriCred enquiries and associated business rules.

Navigation: Setups > MaxConsumer > VeriCred > Edit VeriCred Setup

• Enquiry Type: Select the specific type of report you wish to retrieve from VeriCred. This selection must match the product or service you have agreed upon with VeriCred. Typical options include Credit Report or Affordability Assessment.

• Default Enquiry Reason: Set a default reason that will be pre-selected in the enquiry screen when a user initiates a VeriCred check. This streamlines the process for common enquiry types.

2.4.3 Automated Loan Restrictions

MAXMONEY allows you to automatically enforce loan restrictions based on the results of a VeriCred enquiry, enhancing risk management.

1. In the VeriCred Setup screen, select the checkbox "Restrict Loans on Enquiry Result".

2. Once enabled, the system will automatically enforce the following predefined rules, leading to the automatic decline of loan applications that do not meet these criteria:

   • VeriCred Score: The client's VeriCred score must be greater than or equal to 601.

   • Judgements: The client must have fewer than 3 judgments recorded in the last year.

   • Adverse Accounts: The client must have fewer than 3 adverse accounts recorded in the last year.

   • Admin Orders: The client must have no active admin orders.

   • Debt Review: The client must not be under Debt Review or Debt Counselling.

   • Deceased Status: The client must not be marked as deceased.

Click Save to apply these automated loan restriction rules.

2.5 Password Management

The VeriCred integration password has an inherent expiry date, requiring periodic management.

• Notification: When the VeriCred password is within 10 days of expiring, a prominent warning message will appear on the enquiry screen within MAXMONEY. Additionally, the user specifically designated in the setup (refer to Section 2.4.1, "VeriCred Password Expiry Email User") will receive an automated email notification.

• Resetting: To reset the VeriCred password:

  1. Navigation: Setups > MaxConsumer > VeriCred > Edit VeriCred Setup

  2. Click the "Reset Password" button.

  Note: Only users who have been granted the VeriCred Reset Password permission (as configured in Section 2.2, Role Setup) will see this button and be able to perform the password reset. Other users attempting to reset the password will receive a prompt instructing them to contact their supervisor for assistance.