18 Jan Further increased potential for better creditPass risk management following ECJ ruling on scoring
The ECJ judges state that the activities of credit agencies, such as the creditworthiness score calculation based on data, are themselves an impermissible automated decision. The situation can be different if a manual individual check is still possible and the decision to accept the customer is made individually by the retailer, e.g. with the help of various externally available and own databases, without a defined score being visible in advance. This is the case with the multi-credit agency platform creditPass, as it accesses external data sources (e.g. Boniversum, Schufa, CRIF, Experian, etc.) and (!) the merchant’s own criteria at the same time and (!) there is the option of manual selection for a case-by-case check. A cold on/off decision based on existing score tables alone is probably no longer permissible. This means that creditPass Riskmanagement, established in the market as a specialist since 2003, offers the decisive additional technical and regulatory tools to carry out merchant decisions effectively, cost-effectively and within the framework of correct requirements in the interests of customers and merchants. Are you interested in these and other of our IT services? Then we look forward to receiving your inquiry at info(at)creditpass.de