Updating credit bureaus/reporting agencies with repayment status

**Purpose**

1.1. Automate the updating of credit bureaus and reporting agencies with loan repayment status to comply with regulatory frameworks and maintain borrower credit profiles.
1.2. Automatedly sync repayment data, resolve discrepancies, and ensure real-time, accurate credit histories for clients.
1.3. Facilitate auditing, transparency, and automated reporting for post-loan management compliance, reducing manual intervention.

**Trigger Conditions**

2.1. Automated trigger upon loan repayment (full/partial) or delinquency update in core banking platform.
2.2. Automator initiates update on scheduled intervals (daily/weekly/monthly) or upon borrower status change (e.g., default, settlement).
2.3. Automation can also trigger from API webhooks, batch file uploads, or manual override requests for exceptional cases.

**Platform Variants**

3.1. Experian API
• Feature/Setting: CreditManager Upload/Update endpoint; configure with authentication key and POST repayment status JSON payload.

3.2. Equifax API
• Feature/Setting: Automated Data Submission endpoint; set up OAuth, submit credit account status via Secure File Transfer Protocol (SFTP) or REST API.

3.3. TransUnion Credit Reporting
• Feature/Setting: Automated Reporting API; use bulk data submit, JSON/XML mapping for status updates, enable data receipt acknowledgments.

3.4. CoreLogic Credco
• Feature/Setting: Credco Automated Credit Reporting, upload borrower repayment details; RESTful endpoint configuration obligatory.

3.5. LexisNexis Risk Solutions
• Feature/Setting: Credit Data Update function within RiskView platform; REST API with secure credential management.

3.6. FICO
• Feature/Setting: FICO Score Reporting Automation; API upload schema for loan repayment and default events.

3.7. Finicity (Intuit)
• Feature/Setting: Automated Credit Report Submission, configure webhook on repayment event for real-time status change reporting.

3.8. Plaid
• Feature/Setting: Integrate with Credit Reports endpoint; automate account status updates per transaction batch.

3.9. Codat
• Feature/Setting: Automated Credit Data Syncs, setup credit-data module and periodic status push triggers.

3.10. Salesforce Financial Services Cloud
• Feature/Setting: Automate Process Builder flow to call-out to bureau API upon loan status change.

3.11. Oracle Financial Services Lending and Leasing
• Feature/Setting: BPM workflow automation for credit bureau update, configure SFTP endpoints for data delivery.

3.12. SAP Customer Financial Management
• Feature/Setting: Automate Data Integration, leveraging SAP PI to push repayment updates to external credit agencies.

3.13. FIS Credit Loan Management
• Feature/Setting: Workflow Rule for auto-generation and delivery of repayment reports to agency API.

3.14. Jack Henry & Associates SilverLake
• Feature/Setting: Automated batch export for credit reporting, schedule job to transmit status files.

3.15. Moody’s Analytics
• Feature/Setting: Pulse CreditUpdate API; define automation job to update repayment milestones.

3.16. Envestnet Yodlee
• Feature/Setting: Transaction Data API; configure recurring automation pipeline for credit status syncing.

3.17. Mambu
• Feature/Setting: Automated Event Handler for repayment events to push updates to credit bureau REST endpoints.

3.18. Temenos T24 Transact
• Feature/Setting: Built-in batch job automator to generate and send credit status files.

3.19. Zoot Enterprises Credit Decisioning
• Feature/Setting: Automated Reporting Integration; define process flow for positive/negative repayment status.

3.20. Fiserv LoanServ
• Feature/Setting: Automated status report generator; SFTP setup for credit bureau data transmission.

3.21. MicroBilt
• Feature/Setting: Credit Data Post API, automate submission of loan payment status for compliance.

3.22. CloverDX
• Feature/Setting: ETL Job Automation configured for conversion and dispatch of credit reporting datasets.

3.23. Microsoft Power Automate
• Feature/Setting: Automated workflow to monitor loan systems and send HTTP request/update to credit bureau API.

**Benefits**

4.1. Automating updates accelerates compliance, reduces manual workload, and increases reporting accuracy.
4.2. Automatedly minimizes errors in borrower credit files, ensuring real-time status updates for improved customer trust.
4.3. Automation fosters faster resolution of disputes, streamlined audit trails, and regulatory adherence.
4.4. Automating with diverse platforms enhances automation scalability, efficiency, and cross-industry adaptability.