Quotation API

Overview

This "Quotation API" is the entry point for running the operational flow of a "Credit Product".

The "Quotation API" creates a quotation for a given user ("borrower"). Creating a quotation means processing the information received in order to return the result of a credit analysis, which may include anti-fraud, anti-money laundering ("AML") and "know your customer" ("KYC") checks, among others ("Quotation Result").

The returned result can take different values and formats. The main "response_type" values are:

• (i) "RETORNO_COTACAO_APROVADA";
• (ii) "RETORNO_COTACAO_REPROVADA";
• (iii) "RETORNO_COTACAO_PENDENTE"; or
• (iv) "RETORNO_COTACAO_RECEBIDA".

The RETORNO_COTACAO_APROVADA and RETORNO_COTACAO_REPROVADA responses indicate approved and rejected operations, respectively.

For a "RETORNO_COTACAO_APROVADA", the approved "installment options" are also sent in the "installments_options" section.

RETORNO_COTACAO_PENDENTE indicates an operation that has an active "Credit Engine", but whose credit analysis, based on the configured policy, was routed to the credit desk without reaching an instant automatic approval.

Finally, RETORNO_COTACAO_RECEBIDA indicates that an operation was received and, according to the product configuration, has no active "Credit Engine"; the result will therefore be delivered later.

Response Types

Quotation results can be returned Synchronously (online response) or Asynchronously (via Callback, hereinafter also referred to as Webhook). The returned content is similar in both cases.

To receive a Synchronous response, send the "sync" parameter in the call's Header with the value "true". If "false" is sent or the header is omitted, the call will be treated as Asynchronous.

The MOVA system therefore lets the API consumer ("Requester") configure the response type according to their needs. As shown above, this setting can vary per call. This makes it possible, for example, to send a batch of Quotations to derive an Asynchronous batch "Pre-Approval", while the same "Credit Product" runs Synchronously when calls come directly from the credit applicant's flow.

Note that choosing the Webhook response does not mean it will be slow. The SLA ("Service Level Agreement") via Webhook can be similar to the Synchronous response. The choice of "response type" therefore depends on other variables, such as the Requester's infrastructure, expected costs, and expected volumes and consumption peaks. Choosing the Synchronous response also does not prevent us from sending the response via Webhook at the same time, if that makes sense in the context.

Credit Engine

To run the analysis described above and return the "Quotation Result", MOVA uses a proprietary tool for Credit Workflow automation and Credit Engine ("Credit Engine"). This tool supports implementing decision rules and criteria, can execute a "Decision Tree", and can derive the Score and Rating of a Quotation.

The Credit Engine is connected to several credit bureaus and databases, such as Serasa and the Central Bank's SCR, including several anti-fraud, AML and KYC tools.

The variables and criteria analyzed and processed to approve or reject a Quotation ("Credit Policy") can be customized according to the context of each "Credit Product".

The MOVA system allows custom external databases to be added to the Credit Engine, so that information held by the originator can be analyzed automatically as part of the automated "Credit Policy", provided that proper authorization has been collected from the user under analysis.

Finally, external analyses can be integrated into the "Decision Tree" process. That is, MOVA's internal Credit Engine can be combined with external credit engines or scores, working together with third-party analysis or approval. This joint operation may require prior integration work with those third parties, to be agreed in advance with MOVA.

"Query Return" function for receiving information from credit bureaus and databases

Another function available through this "Quotation API" is "Query Return", which returns to the Requester the information and data from the bureaus and databases queried in a given Quotation. This return happens by activating webhooks for the desired queries. For example, to query a user's SCR, we simply activate the "SCR Query Return" webhook for that Requester. Once the query is made, if the "SCR Query Return" webhook is active for that Requester, they will receive the payload with the corresponding information.

It is essential that, for this information to be queried and returned, proper authorization and consent be collected in advance from the user under analysis. Consent can be collected, for example, through custom procedures and mechanisms for a given "Credit Product" as agreed with the Requester, provided they are approved by MOVA. Alternatively, the "Credit Product" flow can collect this authorization and consent through standard mechanisms provided by MOVA, such as sending links or providing specific pages for collecting authorizations and consents.

As this "Query Return" function shows, the concept of "Quotation" covers not only credit analysis but also the simple collection of information and its delivery to the Requester for later analysis, provided the user under analysis has given prior authorization.

How to consume

Below is an example request to consume this API, or click here to follow the documentation with examples.