Veda is now Equifax Find out more

Equifax - Comprehensive Credit Reporting

|
Article

Being prepared for your transition to CCR is essential.

|
Article

There are a number of ways that lenders can lessen the potential uncertainty of performance of various CCR characteristics when applied to their portfolios.

|
Article

As the Government decides on deadlines for mandatory reporting, credit providers need to be prepared for the transition to CCR.

|
Article

One of the challenges facing many organisations that wish to transition from a negative reporting environment to Comprehensive Credit Reporting (CCR) is how to introduce the new information without increasing the uncertainty of estimating future defaults and losses.

|
Article

Evidence from the New Zealand CCR landscape shows that lenders not participating have suffered from increased adverse selection over the last twelve months.

|
Article

Mandatory reporting may become a reality as the Government begins to set deadlines for the transition.

Why CCR?

Comprehensive Credit Reporting (CCR) allows lenders to make better decisions that benefit and protect both their business and their customers.

Increase your applicant pool. CCR reveals additional pockets of lower risk customers and creates positive credit history for individuals who previously had none.

Differentiate your product. CCR helps you segment the 90+% of the market with no adverse and get the right customers in the door at the right price.

Lead with customer service. CCR empowers consumers with higher credit risk scores to negotiate better rates, reduces time to decision, and improves ongoing treatment.

Reduce wasted efforts. CCR creates more scoreable customers, reduces the need for manual reviews, and improves ROI on collections by distinguishing lazy payers from those struggling.

27% - The percentage of open financial services  accounts that have loaded CCR data to Equifax’s bureau.

Implementing CCR

 

Copyright © 2017 Equifax Pty Ltd., a wholly owned subsidiary of Equifax Inc. All rights reserved. Equifax and EFX are registered trademarks of Equifax Inc.

Other Equifax sites