The CCRDS product is built and designed to accept data files containing the credit information of Account holders from an Institution’s Core Banking system(s) or Data Warehouse (System of Record). This data is then validated and formatted according to the Australian Retail Consumer Association (ARCA) standards and guidelines and acceptable for receipt by a Credit Bureaux. This data file is then securely sent to the user’s Credit Bureaux of choice and a Response file will be returned to the sender containing statistical details of the data processed.
The input file received from the Institution is formatted and validated by CCRDS according to predefined Business Rules and if any errors are reported, the CCR Administrator rectifies the reported errors in the System of Record and repeats the process until the data file is valid. At this point a Report file is generated, encrypted and securely transferred to the Credit Bureaux.
The Report file is processed by the Credit Bureaux and a Response file is generated and returned to CCRDS. The Response file contains Account Holder and statistical details of successful, unsuccessful and problematic records processed by the Credit Bureaux.
Based on the Response file received by CCRDS, a Data Error Report containing Error, Warning and Information details is generated and dispatched to the CCR Administrator for rectification on the System of Record.
After the rectification process, corrected records will be resent to CCRDS, based on the CCR Administrator’s preference, and the process of report generation on the application and response receival from the Credit Bureaux continues according to the CCRDS lifecycle defined for the CCRDS User.