pbVerify introduces Express Credit Score

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SA’s number one data bureau has added a new, express credit check product to its B2C suite.

pbVerify has just expanded its Consumer Credit Check product suite with a new service that enables businesses to draw an express credit report in seconds, at less than half the cost of the full report.

Introduced in mid-November, pbVerify’s Express Credit Score enables businesses to view a condensed report of a consumer’s credit viability, and quickly determine whether or not further data on the consumer in question is necessary.

The service, launched in response to market demand, saves businesses the trouble, time and cost of drawing a full report on every consumer they investigate and allows them to quickly sift through credit candidates for potential clients.

Express Credit Score complements pbVerify’s original Consumer Credit Check, rather than replaces it. The express product offers basic information such as whether a consumer is a High, Low or Minimum risk consumer and – in the case of High Risk – what the main reasons are for the adverse score.

The full Consumer Credit Check report offers information businesses will only need to draw on if the consumer being investigated is deemed a risk, including contact and employment data, all adverse information (judgements, defaults and collections) and an enquiry list.

The full report costs between R35 and R45 (350 to 450 pbVerify credits) per report, while the Express Credit Score costs just R12,50 (125 credits). For a full breakdown of pricing click here.

NB: Businesses wishing to draw a credit report on an individual must have the consumer in question’s signed/written consent.

* pbVerify Express score is a credit bureau score developed in partnership with Compuscan using advanced statistical modelling techniques.

Experian Consumer Credit Report back online

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experian-consumer-credit-reportpbVerify has reinstated its Experian Consumer Credit Report, following a period of about four months of the service being offline.

The product, part of pbVerify’s comprehensive consumer credit check suite, was temporarily discontinued in July due to a system upgrade.

Experian is the world’s largest credit bureau operator, with local offices in Johannesburg, Cape Town and Durban. The bureau has a long history of protecting personal lending in South Africa’s financial services market.

The Experian Consumer Credit report forms part of the pbVerify Business to Consumer (B2C) credit check suite and is available on registration to any business that grants credit to consumers.

The report, garnered directly from Experian for pbVerify clients, provides extensive information – obtained from major credit providers and collection companies in South Africa – relating to individuals’ credit status.

Forewarned is forearmed

Business owners in South Africa are acutely aware that, in order to run a successful operation, they have to be on top of risk management.

Knowing who to do business with and who to avoid is critical and, in order to make an informed decision, it is essential organisations have access to extensive data.

pbVerify’s credit check services offer quick and complete information that ensures effective risk management, and are ideal for:

  1. Credit grantors. If you’re a business that grants credit accounts, you need a full report on potential clients’ credit history before you take a decision to grant them additional credit.
  2. Home loan companies. You want to ensure you are not granting a home loan to someone with a questionable financial past, who is likely to disappear – leaving you with the burden of their debt. pbVerify enables you to view a potential grantee’s financial information, and then make an informed decision.
  3. Micro-lenders. Even companies that solely grant small loans need to be certain that their borrowers are responsible and reliable. Before you sign that paperwork, run a potential borrower’s name through pbVerify and get an idea of who it is you’re dealing with.

For just R42 (420 pbVerify credits), the Experian Consumer Credit Report produces the following information on the consumer: Name; Address; Adverse credit information; Experian Delphi Score*; Mobile number; Landline numbers (personal and work); Employment/occupational information; Enquiry list.

pbVerify’s goal is to give businesses tools to protect themselves and make informed business decisions.

It is unfortunate, but true, that business owners fall prey to fraudsters every day. pbVerify arms businesses with the information they need to protect their future.

pbVerify will be adding other Experian products, like the Experian Business Credit report, to the menu in 2017.

NB: Businesses wishing to draw a credit report on an individual must have the consumer in question’s signed/written consent.

* Delphi Score is a credit bureau score developed in partnership with Experian using advanced statistical modelling techniques.

Digital onboarding: Inject true intelligence into your business processes

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Digital_onboardingA shift towards paperless business processes is starting to be seen in the business world, and there has never been a better time to take advantage of the host of benefits the move to digital brings, than now.

If your business processes still require customers to fill out paper forms, and you want to do away with this onerous, admin-intensive method, PBSA’s pbVerify digital onboarding systems have a comprehensive and effective – yet painless – solution for you.

Our pbVerify digital onboarding systems enable your business to change paper-based credit applications into efficient online web-based forms that verify the identity of the applicant – in real time – while automatically drawing consumer and commercial credit reports in your back-office system.

This enables you to not only eradicate fraudulent applications, but also to approve quality applications in minutes – rather than days or weeks. The system gives you all the information you need to vet a new customer automatically, while they are busy applying.

With pbVerify, no paper, no print and no manual credit bureau, ITC or CIPC checks are necessary – everything is automated according to your procedures.

pbVerify injects true intelligence into web-based application forms. The system provides real-time quality data via API (Application Programming Interface) on South African citizens, consumers and registered businesses, which can seamlessly plug into any web-enabled application.

The solution is fully integrated with SignFlow (www.signflow.co.za), which enables the applicant/s to sign the application or agreement with a digital signature immediately while online. This not only eliminates time wasted from sending the document to and fro via email for signature, it also increases the success rate on finalised applications.

From burdensome to streamlined

Whether you realise it or not, sending clients applications in the form of Word or PDF documents (even dynamic ones) annoys prospective customers right off the bat – at a stage when you should be impressing them.

The pbVerify digital onboarding solution changes expensive, inefficient, labour intensive and time-consuming processes into a professional, streamlined process that will impress your customers. No printing, no hand-written documents, no scanning no capturing and no time wasted.

Despite a gradual shift to paperless processes, many businesses still use paper and print somewhere in the customer onboarding cycle…Yours doesn’t have to.

For more information on PBSA’s pbVerify digital onboarding systems call 011 516 9400 or email Leon van der Merwe on leon@pbsa.co.za

Before you extend a line of credit, check the consumer’s credit report with pbVerify

pic2Due to recent reports that millions of people in South Africa are in debt, it’s critical that lenders check each applicants’ credit score in order to mitigate risk and avoid making a bad business decision. With pbVerify you’ll get access to consumer credit reports, be able to access applicants’ credit health and have all the information available to assist you in making smart business decisions.

What type of businesses can benefit from using pbVerify?

  • Credit grantors – Any Business selling on account. Check the credit worthiness  of each applicant and use it as as risk management tool, whether you’re lending to an individual or to another business.
  • Trace agents – In order to locate consumers who have defaulted, pbVerify gives you access to more than 30 million consumer records and our services are widely used by thousands of trace agents.
  • System integrators – In order to verify the identity of consumers in the retail and HR industries, use our ID API services and get full and complete Home Affairs information.
  • Estate agents and letting companies – Our credit check and deeds search services are widely used to assess prospective renters and to obtain information on property owners in South Africa.

»» More – How it works

Managing risk and properly assessing credit applicants is a vital part of any business that lends money to individuals or to other businesses. When you register with pbVerify you’ll be able to make smarter business decisions, protect your company and get the full and complete information on specific consumers before deciding on a plan of action.

For more information on obtaining a credit report from pbVerify please contact us today. We look forward to hearing from you!