Part of the services that Lendsqr provides to its lenders include the automated reporting of credit data to credit bureaus.
Further information: What Credit Bureaus does Lendsqr use?
For example, if a lender has users that may be defaulting, they do not have to worry about manually reporting these users, as Lendsqr does this for them. This helps not only lenders by reducing the amount of work to be don, but it also helps Lendsqr, by constantly updating it’s data.
A lender does not need to do anything as this happens by itself. We currently report on a weekly basis to keep information accurate.
Read more on the Importance of credit scoring for loan decisions