A service available on the website that measures “evaluation” through a smart indicator

“Credit Information” allows for “evaluation of the check” and knowing the possibility of its return

The smart indicator indicates how likely it is to return the check within the next nine months.

Photography: Ashok Verma

Al-Etihad Credit Bureau announced a newly launched online portal for the “Cheque Evaluation” product, explaining that it is a smart and innovative mobile phone product that allows companies and individuals to know immediately about the possibility of returning checks issued by individuals or institutions through any bank in the UAE. .

rigorous tests

The company confirmed, in a statement, that the “check evaluation” product underwent several rigorous experimental tests over the course of several months, to ensure that it provided a smooth and trouble-free experience before it was officially made available to customers.

According to the "Al Etihad Credit Bureau", the trial period of the application witnessed the scanning of more than 11,000 checks by the application, with a total value of 788 million dirhams.

Since the launch of the product until now, the number of downloads of the Check Evaluation application for smart devices has reached 21,532 downloads, within a short period of time, just over a month.

Since then, the total value of all checks cleared by the app has reached more than 815 million dirhams.

Returned Checks

The “Cheque Evaluation” application, which is currently available on the Al Etihad Credit Bureau website, provides more access and interaction capabilities, with the expectation that users’ traffic through the site will increase tenfold.

The company stressed that the main objective of implementing the "check evaluation" is to help reduce the number of returned checks, as well as to enhance the principle of financial responsibility.

Mechanism of Action

She added that the user can, once he downloads the application on his mobile device and register the required data, scan the check using the camera of his smartphone, upload a picture of the check, or enter the check data manually.

After completing the purchase process, the user will immediately see the result of the evaluation through a smart indicator, with a rate ranging between 1 and 99%, and indicates how likely it is to return the check during the next nine months.

According to the company, the result of evaluating the check is calculated based on the credit assessment of the issuer of the check, which is another product provided by Al Etihad Credit Bureau, in addition to the record of issuing and disbursing previous checks, and completing payments on time, as well as taking into account a set of other factors that support The predictive nature of this assessment.

Decision Support

Al-Etihad Credit Bureau indicated that the products it develops help support decisions related to the investment and credit objectives of individuals and companies, to enhance their abilities to maintain timely completion of payments, enhance creditworthiness, and enable them to access the best products and offers in the sector.

She emphasized that customers can rely on the extensive experience and capabilities of the company to assess the financial solvency of individuals and companies and their credit capabilities.

She pointed out that the CheckScore product is available for smart devices running iOS and Android operating systems, and can be downloaded from their application stores.

• 815 million dirhams, the total value of all checks cleared by the application so far.

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