To be able to embed the search seamlessly into the moneysupermarket.com website, we needed to replicate the look and feel of the site as much as possible through the design. Using Microsoft software, we hooked into the HD Decisions platform and used several web services to retrieve real-time data from various credit bureaus so that we could present a number of up-to-date results for users.
When they fill in an application, customers are asked to enter some basic information, including their name, address, date of birth and salary. Then their credit file is matched to the lender’s score criteria to assess their eligibility. Lenders use specific criteria for accepting or rejecting applicants, which is typically based on their credit score, the information they’ve provided, and the lender’s own set of rules.
Based on a dynamic algorithm built into the search tool, the HD Decisions “Smart Search” returns a list of the most suitable loans for a potential customer. It also gives users a probability score that tells them how likely their application would be accepted. Borrowers can use that information to decide whether or not to apply for a loan and avoid making lots of unsuccessful applications that might harm their credit rating.
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