Studies have shown that credit scores built from positive (CCR) data are significantly more predictive that those built on negative credit data.
During CCR transition, lenders will be seeking confirmation that scores provided by Credit Reporting Bodies (CRB’s) such as Equifax are performing adequately on their population. Performance of scorecards will be particularly important for internal governance and assurance to various stakeholders, who will be concerned about the risks inherent in a changing credit reporting environment.
When beginning the transition to Comprehensive Credit Reporting (CCR), it can be difficult to choose where to start. This article outlines three approaches to implementing this change in your organisation.