Compuscan Affordability Assessment

Quickly find out if your customer can afford it?

The Affordability Assessment Service uses the consumer’s income (Gross and/or Net), calculates their Necessary Expenses (at a minimum, the minimum living expenses as required in terms of Regulations); it evaluates the consumer’s total monthly debt repayment obligations and returns the consumer’s available income (Discretionary Income) which will indicate the consumer’s ability to fund the proposed credit instalment in terms of a new credit agreement.

How it works

It calculates the consumer’s discretionary income as follows:

• First, we take the amount of the consumer’s gross and/or net income.
• Next, we deduct their necessary expenses(the minimum living expenses as per Regulation 23A (9)and (10) of the National Credit Act 34 of 2005).
• Finally, we deduct the consumer’s total monthly debt repayment obligations.

5 Reasons to make use of Affordability

• Automatic determination of a consumer’s Gross Income where the value is unknown
• Automatic determination of a consumer’s Net Income through the application of the relevant tax tables
• Automatic inclusion of known Bureau Expenses
• Assists with decision-making during the customer acquisition phase
• Compliance with the NCA

Bank Account Verifications

Realtime Bank Account Verifications.

Our Bank Account Verification Services allows you to efficiently verify the banking details of a consumer or business and determine the status of the account, whether the account is currently active, open or closed and whether it has been open for more than three months. The following banking institutes can be verified ABSA, FNB, Standard Bank, Nedbank, African Bank, Capitec, Investec, Sasfin Bank, Discovery Bank. We verifiy the following information for you as well.

• Consumer/Business name on account.
• Bank name.
• Account number.
• Account type.
• Identity/Company reg number match.
• Accepts Debit/Credits.