“Al Etihad Credit Bureau” has announced the electronic portal for the newly launched “Czech Appraisal” product, which is a smart and innovative mobile phone product that allows companies and individuals to immediately know about the possibility of withdrawing checks issued by individuals or companies. Any bank in the United Arab Emirates.
For months, the check evaluation product underwent several rigorous beta trials before it was officially available to dealers, providing a smooth and hassle-free experience. The test period of the application was more than 11,000 checks scanned by the application, the total value being 788 million dirhams. The number of downloads of the Verification rating app for smart devices has reached 21,532 in a short period of one month, since the product was launched. Since then, the total value of all checks cleared by Apps has reached AED 815 million.
The Check Evaluation application, currently available on the Al Etihad Credit Bureau website, provides greater access and connectivity with the expectation that user traffic through the site will increase tenfold.
The main purpose of using check valuation is to help reduce the number of bounced checks, in addition to improving the policy of financial liability. Once the user has downloaded the Check Appraiser app on his mobile device and recorded the required data, the user can scan the check using the camera of his smartphone, upload the picture of the check or enter the check data manually. After completing the purchase process, the user will immediately see the result of the rating with a smart indicator at a rate of 1 to 99%, indicating how likely it is to return the check within the next nine months.
The outcome of a check appraisal is calculated based on the credit rating of the issuer, another product issued by the Al Etihad Credit Bureau, with a history of previous check issuance and monetization and timely payments. Taking into account the range of other factors that support the predictive nature of this assessment.
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