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External Data Integration for Underwriting

This page describes how team members (underwriters) can connect to external systems to retrieve additional details about applicants, such as credit reports (e.g., Schufa in Germany), background checks, or other relevant data sources. This functionality is essential for thorough risk assessment and decision-making in the underwriting process.

Overview​

  • Underwriters can initiate data requests to external systems directly from the application review interface.
  • Each applicant type (e.g., employee, pensioner, self-employed) can have specific external data sources configured.
  • Retrieved data is securely stored and linked to the application for audit and compliance.

Key Features​

1. Supported External Systems​

  • Credit bureaus (e.g., Schufa, Experian)
  • Government databases (tax, social security, etc.)
  • Employment verification services
  • Background check providers
  • Custom APIs as required by the organization

2. Data Request Workflow​

  1. Initiate Request: Underwriter selects the applicant and the type of external data needed.
  2. Authentication: Secure authentication (API key, OAuth, etc.) is used to connect to the external system.
  3. Data Retrieval: The system fetches the required data and attaches it to the application.
  4. Review: Underwriter reviews the external data alongside submitted documents.
  5. Audit Trail: All requests and responses are logged for compliance.

3. Applicant Type-Specific Integration​

  • Organizations can configure which external systems are available for each applicant type.
  • Example: Employees may require employment verification, while pensioners may need pension fund data.
  • Configuration is managed in the organization settings or workflow rules.

4. Security & Compliance​

  • All data transfers are encrypted and comply with relevant data protection regulations (e.g., GDPR).
  • Access to external data is restricted to authorized team members.
  • Data usage is logged and auditable.

5. Error Handling & Notifications​

  • If a data request fails, the underwriter is notified with error details.
  • Retry options and escalation workflows are available.

6. Best Practices in Underwriting​

  • Always verify the authenticity of external data sources.
  • Use external data to supplement, not replace, applicant-provided documents.
  • Document all decisions and data sources used in the underwriting process.

Example Use Case: Schufa Report (Germany)​

  • Underwriter selects "Request Schufa Report" for an applicant.
  • System connects to Schufa via API, retrieves the credit report, and attaches it to the application.
  • Underwriter reviews the report and adds comments or decisions based on the findings.
  • Integration with workflow rules for automated external data requests.
  • Document review and commenting (see Document Review).
  • Audit logs for all external data requests.

For more details on configuring external integrations, see the organization settings and workflow rules documentation.