Overview - Intelligence Indicator API
This article reviews the primary applications for iSoftpull's Intelligence Indicator API.
Overview
The purpose of the Intelligence Indicator is to programmatically communicate the level of credit worthiness of a potential client, relative to their credit score. More specifically, the Intelligence Indicator API communicates whether or not a potential client prequalifies for a loan offering by meeting or exceeding a specific credit score threshold (referred to as "Score Limit"). Score Limits may be stacked to create tiers, buckets, or ranges. For example, let's assume your business has four types of clients - Low Risk, Medium Risk, High Risk, and Does Not Prequalify. Let's further assume the credit score limit for each of the previously mentioned tiers are 750, 650, 580, and all credit up to but not exceeding 579, respectively. In the iSoftpull platform, your system administrator would simply create three Intelligence Engines with 750, 650, and 580 Score Limits, and name each intelligence a recognizable name such as Low Risk, Medium Risk, and High Risk. When you make a call to our endpoint with your customer's PII, we will run their credit and return back which of three Intelligence Engines they passed. If no Intelligence is passed, the API will return an Indicator notifying you accordingly, which means the client Does Not Prequalify.
Business Model Applications
Each of our clients have a unique way of doing business. Some run call centers, and other never speak to their clients over the phone and only have website traffic. That said, no matter the business model, each of them have a need for prequalifying their customer's for financing, and all of them make great use of our Intelligence Indicator APIs. Let's review.
Call Center
Whether a business is setting appointments for their team to meet with potential borrowers, taking inbound calls for refinances, or making outbound calls to sell loan products, knowing what level of credit a particular client has is paramount to a business. The Intelligence Indicator API lets phone agents prequalify their clients creditworthiness, without having to give the phone agent access to the actual credit score (giving client credit scores to low paid employees may give added exposer the company may not want to carry), and without the phone agent having to review an entire credit report and compare to loan products (just name your Intelligence Engines related to the product qualification). The intelligence indicator is often ran with our Credit Report and Score View API in the event our client does want access to the clients full report and score.
Website Lead Generation
Paired with a website form, the Intelligence Indicator API enables business to redirect their leads to particular messaging based on the customer credit score. For example, let's assume a credit card company has three credit cards they offer - Platinum, Gold and Silver - and each are related to a level of credit score. When the credit card company sets their relative Score Limits in our Intelligence Engines, they can then redirect their customer's to the most suitable credit card. I am sure you have seen this with Capital One or American Express. Businesses are even selling more cars by prequalifying their customer (Carvana)! The only information we need is your customer's name and address only.**
View this article to learn more about how to set up and Intelligence Indicator API
These are just a few examples of types of clients who make great use if the Intelligence Indicator API. Call us at 760-579-6171 for more information or email us at sales@isoftpull.com.
** Customer consent to run their credit is always applicable
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