Essentials

The Essentials provides a comprehensive set of ready-to-use indicators that you can incorporate into your credit underwriting rules. Please see below all indicators :

• Open banking data relevance

  • historicalDepth : number of days between the first and last transaction at the aggregation date.
  • activityScore : ranking between 0-100. Below 10, other accounts should absolutely be synchronized. For more information, please click here.

• Affordability

  • mainIncome : monthly amount for the main income found. The following categories are used to calculate this variable:

    • WAGE
    • RETIREMENT_PENSION
    • REVERSIONARY_PENSION

  • monthlyRegularIncome : monthly estimate for total of regular incomes. The following categories are used to calculate this variable:

    • WAGE
    • All ALLOWANCE categories
    • REGULAR_INCOME
    • FREELANCE
    • RETIREMENT_PENSION
    • REVERSIONARY_PENSION

  • monthlyEssentialExpenses : monthly amount estimated to cover expenses among housing, and substantial regular expenses. The following categories are used to calculate this variable:

    • RENT
    • REGULAR_EXPENSE
    • PAID_ALIMONY
    • HOUSING_TAX, INCOME_TAX, PERSO_TAX where enrichments.periodicity is "MONTHLY"

  • monthlyLoanRepayments : Monthly amount estimated to cover loans. The following categories are used to calculate this variable:

    • LOAN_REPAYMENT

    • LOAN_REPAYMENT_REVOLVING

    • LOAN_REPAYMENT_REAL_ESTATE

    • LOAN_REPAYMENT_PERSONAL

    • SPLIT_PAYMENT

    • LOAN_REPAYMENT_FAST

  • monthlyDiscretionaryIncome : It is the the amount of an individual's monthlyRegularIncome that is left after subtracting the monthlyEssentialExpenses and monthlyLoanRepayments charges.

  • debtToIncome : ratio between monthlyLoanRepayments and monthlyRegularIncome

• Red flags

  • redFlags : seizures, check rejections, payment to debt collectors. Any sign of debts that have not been honored. The following categories are included in the red flags:

    • DEBT_COLLECTION
    • FEES_DIRECT_DEBT_RECOVERY
    • FEES_CHECK_REJECTION
    • FEES_PREVENTIVE_SEIZURE
    • FEES_ACCOUNT_SEIZURE
    • PROVISION_DIRECT_DEBT_RECOVERY
    • PROVISION_PREVENTIVE_SEIZURE
    • PROVISION_ACCOUNT_SEIZURE
    • RELEASE_PREVENTIVE_SEIZURE
    • RELEASE_DIRECT_DEBT_RECOVERY
    • RELEASE_ACCOUNT_SEIZURE
    • REJECTION_CHECK
    • REJECTION_LOAN_REPAYMENT

  • loanRepaymentRejections : rejections on loans are an early warning. This is the total rejected amount and number of rejections on loan installments.

• Credit worthiness

  • creditScore : default score with a 12-month horizon. For more information, please click here.
  • paymentScore : default score with a 4-month horizon. For more information, please click here.

Data Sample

Essentials can be retrieved using the GET /analysis/essentials endpoint:

{

  "analysisId": "64a3tr1ae9d665d723d644b2",

  "createdAt": "2023-07-04T09:02:20.926Z",

  "updatedAt": "2023-07-04T09:02:25.056Z",

  "historicalDepth": 90,

  "activityScore": 64,

  "mainIncome": {

    "monthlyAmount": 2581.45,

    "cashFlows": [

      {

        "category": "WAGE",

        "monthlyAmount": 2581.45,

        "employer": "Algoan"

      }

    ]

  },

  "monthlyRegularIncome": 2581.45,

  "monthlyEssentialExpenses": -879.78,

  "monthlyLoanRepayments": -1088.53,

  "monthlyDiscretionaryIncome": 613.14,

  "debtToIncome": 0.42,

  "redFlags": [

      "FEES_DIRECT_DEBT_RECOVERY",

      "FEES_ACCOUNT_SEIZURE"

  ],

  "loanRepaymentRejections": {

    "totalRejectedAmount": 343.45,

    "count": 1

  },

  "creditScore": 473,

  "paymentScore": 4

}