CreditLab: Fundamentals sets a solid foundation and understanding of consumer lending principles. The course provides an overview of the consumer credit life cycle, covering both secured and unsecured retail products.
CreditLab®: Fundamentals trains participants on the fundamental drivers of the credit life cycle, addressing topics such as, product definitions, underwriting principles, credit bureau data, and collection best practices.
To maximize understanding of core principles, participants have to apply their knowledge in a variety of case studies, activities and a simulation game. In the simulation, players battle it out managing a variety of portfolio in changing market conditions. To win, each team has to demonstrate a core understanding of consumer credit risk, underwriting, use of credit scores and collections concepts.
Identify important consumer lending product features that bring customer value and support profitability.
Compare techniques used for screening applicants, including verification, overrides, scores, and credit policy.
IDENTIFY KEY DATA
Identify the key data fields in the credit bureau and how they are used to evaluate and monitor customers.
Explain how the collections process is conducted and appreciate what the best practices of the process are.
The CreditLab: Fundamentals Simulation
Players repeat strategic decisions in a variety of market conditions, reinforcing learning objectives.
The simulation provides a safe virtual environment for players to test-drive portfolio management strategies.
Players have the opportunity to evaluate and understand the outcome of their portfolio management decisions.
“Learn by Doing” approach maximizies learning retention.
Facilitator is superb in terms of subject matter mastery, fun, did a great job at facilitating good examples of real life events, credit issues and banking - We can relate to these events well.
I really enjoyed the course. It covered a broad range of materials at an effective pace. The case studies and simulation game enhanced my learning hugely.
The simulations are virtual, but they actually get the adrenalin pumping!