We often hear the term credit score being used to evaluate the eligibility of a person or a business when they want to borrow a sum of money. This score or credit rating defines the credit worthiness of a prospective borrower in the following terms:
Individual – The financial commitment to pay back the borrowed amount
Company – The operational efficiency of the business which will allow it to repay the loan
At AppShark, we have successfully performed Credit Bureau integrations with Salesforce to help our clients generate credit ratings by retrieving them from credit bureaus such as Experian, Equifax and Dun & Bradstreet (D&B).
In one such instance, a client which provides financing solutions to small and medium businesses, requested AppShark to perform two different Credit Bureau integrations with Salesforce where they wanted to generate credit ratings for both companies and individuals. Based on their requirement, they opted for two of the best known credit bureaus:
Dun & Bradstreet (D&B) – for generating credit ratings for businesses - D&B tracks every business using a DUNS Number and provides the credit rating of the business.
Equifax – for generating credit rating for individuals applying for personal loans.
Both the integrations were successfully executed as AppShark’s teams came up with the following solutions:
As a result of the integrations, our client was able to automatically generate the credit rating from Salesforce itself thereby saving both time and effort during future transactions.