This paper describes the key decisions, processes, project structure and international learnings concerning the adoption of the new Australian Credit Reporting Data Standard (ACRDS).
ACRDS is the foundation for the exchange of CCR data between credit providers and credit reporting businesses (credit bureaus).
This paper is recommended reading for anyone in a role within a credit provider’s project to establish data sharing with the new data structure.
For Peter Coe, Chief Risk Officer at BMW Financial Services, being one of the leading auto-financiers to implement CCR is critically important in a highly competitive auto-finance market.
“Banks and other multi-product lenders have access to more readily available information about a customer via a banking relationship. For us, CCR gives us immediate access to a broader picture that
will allow us to make more efficient credit decisions based on an individual’s current credit exposure"
The completion of this questionnaire is a key step in your data supply journey. It will be used as a guide for future data supply workshops and helps Equifax understand what stage you are at and your overall intentions.
Once you have completed the questionnaire, an Equifax representative will be in touch to arrange a workshop.
SmartData is a data transformation tool that reduces the time and cost of supplying data.
The first step forward into the world of CCR is to supply data to bureaus using the new Australian Credit Reporting Data Standard (ACRDS). Equifax’s SmartData provides a simple and accurate solution to assist with the process of data supply under CCR.
