The significant part of credit equation is decision process where lenders seek to maximize their profits and lower risks. To come to that end, they need have tools for filtering their targeted audience based on accurate and updated informative techniques. Pre-Approval service comes to fill that gap and be the initial stage of creditworthiness qualification conducted by creditors to a potential borrower to determine whether they can be given an offer.
Pre-Approvals are generated through SIMATI (Consumer System) which facilitate pre-approvals analysis through preapproval inquiries. Pre-Approval service can provide an estimated eligibility for the borrower using OTP (One Time Password) verification process.