The permission we receive from the client to pull the credit report is via one of the two options.
OTP (One-Time Password): Sends a unique code to the client's cell phone for verification. Enter the OTP code into the system to pull the credit report.
KBA (Knowledge-Based Authentication): If OTP fails, the KBA method is used. The client must answer three specific questions about their address, credit, or loan history.
ALWAYS TRY OTP then KBA. The process uses two methods to identify the client. If one does not identify the client the second may. We have seen a 3% failure rate which can include. If OTP fails, ensure accurate data entry and attempt KBA. Repeated failed OTP attempts may block consent for KBA.
We will be improving the messaging and limiting the number of pulls as a failed validation from OTP repeated will block consent from KBA. Common causes for validation failures include incorrect or mismatched information like SSN, DOB, address, or name.
Missing Accounts in Credit Reports
If certain accounts or tradelines are not displayed in the credit report, this could occur for one of the following reasons:
Reporting Practices: Not all lenders and creditors report to all three credit bureaus. Some may report to only one or two bureaus, or none at all. Clients should contact their lenders to confirm what bureau(s) they report to.
Closed Accounts: Accounts that have been closed for an extended time might have dropped off the report. This is a time-based policy by credit bureaus. Since this does not indicate a system error in Relintex, clients will need to reach out directly to lenders or creditors for clarification and resolution.### OTP and KBA Verification Failures If neither OTP nor KBA is successful, and you receive a "no record found" notification:
Verify that all entered information (SSN, DOB, address, and name) is accurate and correctly formatted.
Retry both OTP and KBA methods after confirming the details.
If the issue persists, contact the credit bureau directly. Only the client can resolve discrepancies or update missing records with the bureau.
If required to pull new credit please "CREATE PROPOSAL" which will allow the system to update the credit report. This step ensures that the latest client information and updated credit report data are retrieved correctly.