Credit risk teams understand why CCR is a given in most developed markets. However, it can take time to get the rest of the business on the same page.
Educating stakeholders across the business early means your project will not be deprioritised at the last minute. Including the requirements of multiple departments, rather than just credit risk, also ensures your project will not be treated as a compliance requirement with minimum funding.
Some answers you need to have on hand to manage stakeholders include:
- What is your customer value proposition?
- What is the optimal timing of your participation?
- What customer notifications are required?
- How do you enable rapid development?
- How do you test and verify?
- How are you going to consume the data to get the most benefits straight away?
Equifax has a library of resources including learnings from early movers to assist with stakeholder engagement. Our subject matter experts can present to your stakeholders with informed analytics to bring business benefits to life.