Last September 30, 2013. Veda Advantage made their credit scoring public which was applauded by the financial community. VedaScore gives provides borrowers with important information regarding their loan applications.
Finance brokers are optimistic that this move by Veda would give them more control in leading borrowers to the appropriate lender. Not only does this process promote transparency, it gives borrowers a bigger chance to have their first time loans approved. This would be a confidence boost for brokers, as they would have a benchmark for approval or denial of loans. Depending on how much weight the Veda scoring has, brokers can direct borrowers to the appropriate lender.
Read more about this on the Adviser website.