The concept of "credit monitoring" is a tracking system for targeted and effective use of credit, timely and full repayment of it, the development and adoption of appropriate measures to address these problems.
With the variety of ways the organization and implementation of credit monitoring, all of them (methods) based on the following four basic principles. Need for credit is due to several reasons. One of them is in the imperfection of the existing methods of assessing the creditworthiness of the borrower.
Credit monitoring services is a company or service that keeps track of your credit report and your credit score for you.
Credit monitoring services
They will also alert you to any sudden changes in your credit and check for errors on your credit report for you.
There are some factors to consider when you are looking for the right monitoring service for you. Here are some tips if you want to know how to choose credit monitoring services. Services for a reasonable and correct credit policy , as well as to develop new credit offers to its customers.
Monitoring helps the board of the bank to identify problem loans as soon as possible , and to monitor the actions of the credit department of the bank for the credit policy.
Monitoring the loan repayments and interest payments, it is an important step in the lending process. He is a periodic analysis of the credit history of the borrower, the revision of the credit portfolio of the Bank, assessment of loans and conducting audits. Credit score monitoring includes checking accounts and data in the statements of account 76 "Calculations with different debtors and creditors".
Credit report monitoring
The banking system of virtually all developed countries is the most highly regulated and controlled by public authorities, which are authorized to carry out state financial control , and non-governmental organizations that carry out independent financial control on a commercial basis.
Order credit report monitoring is the monitoring of the quality of the credit portfolio, independent examination, timely detection of deviations from accepted standards and objectives the Bank's credit policy.
Methods used for the control of calculations, the same methods of checking external payments and include analyses of settlement operations. The auditor should evaluate the validity of payment transactions using accounts 76. For this purpose it is necessary to study the normative-legal base, instruction on the application of the chart of accounts. Credit monitoring comparison (tracking the status of services), along with redundant copying is probably one of the oldest and most popular tasks for the system administrator. Of course, there is a great variety of different tools for its implementation. In this sprawling grandeur hardly focus even the experienced specialists.