Your customer data is one of your most valuable business assets.
The quality and breadth of data improvements is constantly improving under CCR. This is because credit providers now share positive information on a regular monthly cycle instead of negative data only on a sporadic basis.
This means credit providers participating in CCR confirm the identity details for each account every month when they submit repayment behaviour to the bureau.
CCR is the most significant changes in the history of credit reporting in Australia. The industry is progressing well. We now have 13 organisations and 30+ portfolios contributing to our bureau and expect consumption to start to gear up during 2017. What was once 70 million records on the consumer bureau has already tripled with CCR and is continuously building.
CCR is better for all and good for our economy because it is:
New research reveals that young millennials are entering the market through a variety of paths and products. Research by Veda (now Equifax), conducted in June 2016, breaks down some stereotypes of the generation.