CCR - Who is the real winner?
CCR holds the promise of something for everyone. Risk managers like CCR because they can more accurately manage risk in a portfolio. Technologists and operations teams like CCR as it supports automation. Disruptive players like CCR because they can introduce new risk-based priced products to the market. But the real winners from all of these are actually the end customers, consumers.
Why? Because the innovation CCR unleashes rewards consumers for good credit behaviour, expedites the application process, and ultimately puts the right credit product at the right price in the hands of a consumer. Consumers all around the world benefit from this type of regime. Lenders who lag on the opportunity to deliver a better experience may risk losing customers to those who embrace CCR.
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