Reporting to Infact
Legacy credit reporting is not good enough
Legacy credit reporting system is outdated and inefficient. We’re here to change that.
Legacy reporting frequency and format
Credit reporting systems are struggling to keep pace with today's dynamic financial landscape, hindered by outdated monthly reporting cycles, inflexible data formats, and an over-reliance on conventional identifiers, leading to incomplete and inaccurate consumer profiles.
Lead to stale data that doesn't reflect consumers' current financial situations, increasing the risk of loan stacking and over-indebtedness.
Changes such as refunds and early repayments aren't reflected quickly, leading to increased customer complaints and correction requests.
Struggle to accurately represent modern financial products like Buy Now Pay Later and miss valuable product level details.
Over reliance on legacy identifiers like the electoral register excludes certain demographics and leads to poor matching.
How we're different
Infact is transforming credit reporting with cutting-edge technology and a fresh approach.
Our API-based architecture enables lenders to report, update and amend accounts instantly, allowing us to maintain the most accurate view of an individual’s credit exposure.
Our reporting format accurately captures the details of contemporary financial products, including BNPL features like early payments and payment adjustments.
We support a wide range of identifiers, including email and mobile numbers, for a more inclusive and accurate picture.
The Infact API allows for instant updates and amendments to credit records, ensuring refunds and early repayments are promptly reflected.
Our approach focuses on individuals rather than addresses, creating a more holistic and fair representation of creditworthiness.
Our platform scales to deliver real-time credit information with on-demand insights. All with sub-second response times, and the highest levels of compliance, and data protection.
We offer clear documentation and support for a smooth integration process, reducing time-to-value for lenders. Benefit from onboarding in days, not months.
Align with Consumer Duty
Real-time data helps lenders meet Consumer Duty requirements more effectively, enabling better protection of vulnerable individuals and promoting responsible lending practices, resulting in better outcomes for consumers.
Supporting a better financial services industry
Infact's innovative credit reporting system delivers more timely, accurate data, enabling lenders to make smarter decisions while helping consumers build stronger financial profiles.
Our reporting capabilities provide lenders with more timely and accurate data, offering significant advantages across various aspects of their operations:
Spot issues like loan stacking earlier, lowering expected credit losses and improving overall credit performance.
Reveal creditworthy customers often overlooked by traditional systems, potentially increasing acceptance rates.
Gain an edge in the market by pricing risk more accurately, offering more competitive APRs and offers to customers.
Reduce integration time and costs that contribute to lowering operational costs and improving operational efficiency.
Receive fewer requests and complaints from individuals, ultimately delivering better customer satisfaction.
Better protect vulnerable individuals and promote responsible lending practices, resulting in better outcomes for consumers.
Infact's innovative reporting system offers numerous advantages for consumers:
More timely and accurate data leads to fairer lending decisions. These fairer decisions may result in lower cost of debt for consumers.
Provide consumers with a comprehensive view of their credit profile, empowering them to make informed financial decisions.
More timely reporting and the ability to accurately reflect BNPL helps individuals to build credit profiles faster, safer and cheaper.
Real-time reporting helps prevent consumers from taking on more debt than they can handle.
Faster corrections ensure a more accurate and up-to-date representation of consumers' financial situations.
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Drive financial inclusion and contribute to a fairer, more efficient credit ecosystem while improving their key performance metrics.
Reporting via API
We offer a simple, intuitive API to service the entire reporting lifecycle.
01 Report
Report individuals and their accounts through real-time structured reporting with immediate validation and processing.
Used for:
- Details about people
- Unique identifiers
- Details about accounts
- Details about payment schedules
02 Update
Directly update an individual or an account’s status and payment performance using the same API.
Used for:
- Refunded purchase
- Balance amendment
- Payments
- Early payments
- Missed payments
- Delinquencies
03 Amend
Modify or correct any reported data automatically when issues are raised.
Used for:
- Corrections
- Resolving disputes
- Consumer requests
- Processing updates
- Missed persons or accounts
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