What is the Equifax Soft Search used for?
The soft search facility built into AutoConvert allows you to push customers to Equifax. Here, they can get their full Credit Reference Agency report.
You'll be able to see their Equifax Risk Navigation (RN) Score and report. Then decide which lenders to pass the customer to. The full report is visible on the screen and as a PDF file.
How to perform an Equifax Soft Search:
There are four ways to perform the search:
- Manually
- Categorisation
- Automation
- Lender filters
Manually
The soft credit search can be performed from within the application
- Select 'Applications' on the left-hand menu
- Select the application you need
- Select 'More' in the top right of the window
- Select 'Soft Credit Search'
- Select 'New Search'
- Fill in all the relevant details
- Select 'Consent'
- Select 'Send to Equifax'
Categorisation or automation
Categorisation and Automation are similar, so you only need one, not both. The difference between the two is:
- Categorisation will run every time an application comes in
- Automation only runs in specific circumstances and therefore gives you more control
Learn how to set up and use categories
Learn how to set up an automation
Lender Filters
Lender filters have more choices than categorisation, which only run on the risk navigator scores or credit banding
Within Lender Filters, any 'Integrated' filter input will make AutoConvert perform the credit search.