*By Rafael D'Agostino Garcia
Created to strengthen credit analysis and options, the Positive Register is a source of data on performance, which are the financial commitments assumed by people and companies, both those that have already been paid and those that are in progress and are also considered information related to the payment of consumption bills. The credit bureaus that manage the Positivo Registry receive this information from the companies that carry out business and operations with consumers.
The idea of implementing this system benefits both ends of a business transaction. With this, the companies that carry out credit release are able to know if a certain person is paying their debts on time or not, in addition to being able to have a thorough assessment of the degree of default risk that each person offers. In other words, it is possible to offer credit options according to each profile. On the other hand, good borrowers are usually rewarded by offering good interest rates and facilities when taking credit.
Another important point is that the Positive Register can help fight digital scams. In subscription fraud, common in the Telecom, Banking and Retail market, criminals are able to contract services using registration data or synthetic identities, which combine false and true information. One way to ensure that the user is really who he says he is is to request specific information to authenticate the opening of registrations and digital accounts and in the processes of changing or recovering passwords or logins.
Serasa Experian, for example, created a KBA (Knowledge Based Authentication) with exclusive access to the Positive Registry data. It is an anti-fraud quiz with personalized questions designed for each step of the customer's journey. It is a solution with random questions, which mix registration questions with positive information and generate a final risk score. The system even takes into account the time it took the person to respond.
The user is asked for specific data, such as the expiration date of his credit card bill or the bank with which he has an account. This dynamic increases authentication-related security without impacting the customer experience.
An issue that has been talked about a lot is also Open Banking. How can it bring benefits to account holders who allow the sharing of their information between institutions authorized by the Central Bank, as they will have personalized offers and special conditions based on their financial history.
Positive data is entered by credit bureaus automatically. Not knowing the full potential they offer, some people may end up asking for the name to be deleted from this database. However, I believe that it is essential to disclose all the advantages of the Positive Register, as the tool contributes to the analysis of credit concession and can also be used in an anti-fraud layer.
*Rafael D'Agostino Garcia is executive manager of Fraud Prevention at Serasa Experian
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