This is currently in the early stages of design, and we predict that once this tool is developed and fully functional it will rival the Data Master Application in terms of the value it adds to our Members.
This tool will allow for the automated management of the extensive data specification. The current version of the data specification is a Word document that is over three hundred pages long!
The DSM will assist with rapid deployment to all Members when legislative changes requires amendments or because of industry innovation.
The specification will be clear and concise thereby ensuring the standardised interpretation of the data fields and rules and their related requirements. The other hopeful benefit will also be standardised implementation by Members for increased consistency at bureaus and in data-user interpretation. This will become even more important when the SACRRA specification becomes the NCR industry standard for submission of data to the credit bureaus by all NCR registrants.
The various dimensions within the data specification will allow tailored views for specific functional areas within the Members’ operations, e.g. a technical/developer view, a business processing view, a legal and compliance view and a clear distinction between the data provider and data host (credit bureau) specifications. Members will be able to download these tailored specifications based on their relevant account types and the “user views” they require.
This tool will facilitate the translation of 28 years’ worth of industry knowledge and specification insight for easy reference through digitisation. One of the lessons learned was how critical it is to have a standard implementation and interpretation of the data specification. Even though this tool will only be developed in 2017 in the South African environment, we propose to develop the DSM earlier in the credit information sharing process, especially where countries are in an early stage of implementation.
“Furious activity is no substitute for understanding."
~ HH Williams
© Copyright: Copyright in this document vests in the South African Credit & Risk Reporting Association . No part of this document may be reproduced in whole, or in part, used for commercial gain or transmitted in any form whatsoever without the prior written consent of the copyright owner.
Copyright 2018 South African Credit & Risk Reporting Association