Credit Data Reporting
Reporting credit data (Metro2 format) is a cost-effective opportunity to help your borrowers graduate to safe mainstream financing, lower interest rates and move toward a life of asset building and financial self-sufficiency. Your borrowers are entitled to a good credit rating and credit options. Reporting their repayment behavior is the best way for you to help them and FEX DMS can help automate this process.
Other Key Features
- Credit Data is automatically sent every two weeks.
- Stronger Loan Portfolio: Dealers who recently started reporting data to credit bureaus have seen an increase in on-time payments from their clients and less delinquent portfolios. Well-informed borrowers will understand there are broader implications beyond their relationship with you if they do not pay their loans back in a timely manner.
- Legitimacy: Reporting data legitimizes your lending activities both to your borrowers and to other financial institutions.