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CCR data will reveal a whole lot more for brokers, impacting the way they engage and service their customers.
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.
Adverse selection will become a reality with the increase in consumption and supply of CCR data - but what exactly is it?
Negative data alone does not always provide the complete picture of an individual's creditworthiness. Utilising bureau data can help lenders better manage risk and improve customer experience.
As of April 2017, the percentage of CCR loaded accounts increased to 27% - the first increase since early 2016.
As we progress on the transition to Comprehensive Credit Reporting (CCR), there are learnings from other markets we can use to help us on our own journey.
Comprehensive Credit Reporting (CCR) provides new insights which give you more knowledge to help you choose where to focus your collections efforts.
As of January 2017, 26% of the retail credit market have supplied CCR data to Equifax.
Credit demand statistics show trends with new market players contributing to growth.
Comprehensive Credit Reporting (CCR) gives more insight on what your customers are doing with other lenders than ever before.
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