External Parties

To perform certain functions, the CoreCard API system interacts with third-party service providers, referred to as external parties, on a need basis. For example, when a card account is onboarded, you can enable OFAC (Office of Foreign Asset Control) verification, and a customer's credit bureau information to evaluate their creditworthiness (e.g., FICO score, revolving account, mortgage account). When an account is verified, each service provider returns a score or a result code that the CoreCard system can use to decide whether or not a customer is legally eligible to be a cardholder.