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.
Once again the benefit will be felt across the entire Association, from the data providing Members, to the SACRRA Office and also our bureau Members.
This Tool will allow for the automated management of our 300+ page data specification. It will ensure rapid deployment to all Members when changes are required. The specification will be clear and concise thereby ensuring the standardised interpretation and implementation of the requirements. This will become even more important when the SACRRA specification becomes the NCR endorsed, industry standard for submission of data to the credit bureaus by all NCR registrants.
The different dimensions of the data specification will allow tailored views for specific functional areas, e.g. a technical /developer view, a business processing view, a legal and compliance angle and also a data provider or data host specification. Members will be able to download these tailored documents based on their relevant account types and user perspectives.
One of the added benefits of this is that Members will be able to understand how other products, within the industry are being reported, thereby allowing them more insight into how these products data must be viewed and used during their risk management and affordability assessments.
The vendor for the development of this complex tool will be appointed shortly and it is our intention to kick off with some in-depth planning and scoping sessions towards the end of the year. It is going to be great fun and an amazing challenge to translate 26 years’ worth of industry knowledge and specification insight into the digital world! We look forward to sharing the outcome with our Members in due course.“Furious activity is no substitute for understanding.”
~ HH Williams
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