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As of October 2018, 60% of financial services accounts have CCR data loaded to the Equifax bureau.
As of July 2018, 40% of the retail credit market have supplied Comprehensive Credit Reporting (CCR) data to Equifax.
This infographic breaks down the attributes and benefits of data supplied to date.
As of October 2017, 27% of the retail credit market have supplied CCR data to Equifax. This infographic provides a pulse check on the industry’s transition to CCR.
Being prepared for your transition to CCR is essential.
There are a number of ways that lenders can lessen the potential uncertainty of performance of various CCR characteristics when applied to their portfolios.
As the Government decides on deadlines for mandatory reporting, credit providers need to be prepared for the transition to CCR.
Evidence from the New Zealand CCR landscape shows that lenders not participating have suffered from increased adverse selection over the last twelve months.
Mandatory reporting may become a reality as the Government begins to set deadlines for the transition.
The 'Age of Big Data' is now here - but what does that mean for the retail credit industry?
Adverse selection will become a reality with the increase in consumption and supply of CCR data - but what exactly is it?
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