A single-homogenous solution facilitates lending, prevents identity fraud and offers new revenue streams to credit bureau institutions.
Cupertino, California, April 5, 2012. - Scorto Corporation, a globally recognized provider of decision management and risk mitigation solutions and services, introduces the enhanced version of Credit Bureau Nucleus, the integrated platform for credit reference services.
“We have thoroughly analyzed feedback from current users of Bureau Nucleus while designing the update,” says Vasiliy Moshenok, Systems Designer and Senior Project Manager at Scorto’s R&D Centre in Ukraine. “We aimed to go beyond updating security framework and implementing usability enhancements. We have designed the new version to significantly improve the value of credit bureaus services.”
Credit reference institutions have been struggling with the need to use additional software for value added services, which created a somewhat muddled and disorganized system. And just like all financial institutions, credit bureaus face the need to protect their clients from digital crime; according to PriceWaterHouse Coopers research paper entitled “Fighting economic crime in the financial services sector”, 45% of FS organisations have suffered frauds in the last 12 months compared to 30% in other industries.
Scorto Bureau Nucleus solves the above mentioned challenges due to its modular structure and extensive set of security features. The updated version offers new revenue streams to credit reference institutions, facilitates lending, increases data security and protects reputation of the credit reference institution.
The updated version of Scorto Bureau Nucleus is already released to its 80+ current users. The software updates were provided to Scorto’s current Bureau Nucleus clients at no cost.
Scorto Bureau Nucleus solution offers credit reference services and other functions and services associated with credit bureaus. This service retrieves and matches data relevant to the applicant and returns it to the subscriber to the service through its most sensible Reciprocity Engine on the market with configurable rules for different groups of bureau clients, different data contribution levels and different credit products. Scorto Bureau Nucleus empowers credit bureaus to access new revenue streams such as fee for application processed and fee for fraud detection services.
More features of the updated version of Scorto Bureau Nucleus include:
Scorto Corp. is a globally recognized provider of decision management and risk mitigation solutions and services. Scorto’s business intelligence tools allow accurate decisioning and improve operational efficiency. The company was founded in 2005 and is headquartered in California with seven international representative offices. Scorto was included into FinTech 100 ranking of the top global technology providers to the financial services industry in 2011. For more information about Scorto’s products and services, visit www.scorto.com.