{"id":7676,"date":"2020-12-08T10:26:27","date_gmt":"2020-12-08T08:26:27","guid":{"rendered":"https:\/\/datanamixdev.wpengine.com\/?p=7676"},"modified":"2026-03-02T09:40:23","modified_gmt":"2026-03-02T07:40:23","slug":"pbverify-affordability-assessment-service","status":"publish","type":"post","link":"https:\/\/www.datanamix.com\/media\/2020\/12\/08\/pbverify-affordability-assessment-service\/","title":{"rendered":"pbVerify introduces Affordability Assessment Service"},"content":{"rendered":"\n

We have added another rung to our ladder of credit risk management products, so your business can make highly informed lending decisions and maintain a healthy bottom line.<\/em><\/p>\n\n\n\n

As a credit bureau specialising in credit risk management, we know how important it is for lenders to have a strong and comprehensive portfolio of products that enables them to make sound decisions and maintain profitable operations.<\/p>\n\n\n\n

That is why we have introduced yet another solid credit risk management product, the Affordability Assessment Service<\/strong>, which is a web service that gives lenders fast and accurate information indicating customers’ ability to fund a proposed credit instalment in terms of a new credit agreement.<\/p>\n\n\n\n

How it works<\/h2>\n\n\n\n

pbVerify\u2019s Affordabiity Assessment Service works like this:<\/p>\n\n\n\n

  1. The system uses a consumer\u2019s gross and\/or net income;<\/li>
  2. Calculates the consumer\u2019s necessary expenses (minimum living expenses as per National Credit Act<\/a> (NCA) regulations);<\/li>
  3. Evaluates the consumer\u2019s total monthly debt repayment obligations and returns the consumer\u2019s available income (discretionary Income);<\/li>
  4. This returned information indicates the consumer\u2019s ability to pay the proposed credit instalment in terms of a new credit agreement.<\/li><\/ol>\n\n\n\n

    Why it’s important<\/h2>\n\n\n\n

    For a business that offers credit in any capacity, the importance of conducting risk management processes cannot be undervalued.<\/p>\n\n\n\n

    Business tycoon Warren Buffett famously said, \u201cRisk comes from not knowing what you\u2019re doing.\u201d Our latest credit risk management product offers businesses a further means of \u201cknowing what they are doing\u201d \u2013 or in other words, knowing who they are lending to.<\/p>\n\n\n\n

    The Affordability Assessment Service can be used by any subscriber required to perform an Affordability Assessment as per NCA, and offers significant benefits:<\/p>\n\n\n\n