As at March 2016, 24% of the retail credit market supplied CCR data to Equifax. With a quarter of the market participating, real benefits are emerging for lenders and consumers alike.
This infographic breaks down the attributes and benefits of the data supplied to date including:
Access to credit to those previously underserviced
How CCR uncovers lending relationships
Credit score averages (negative and comprehensive)
Growth opportunities identified by CCR
Data improvements with more regular CCR data loads
This document is intended to help a your helpdesk answer questions they may receive from your customers. It answers questions such as what customer data is shared with the bureau and how CCR data affects your customer credit reports, credit scores and alerts.
All technical product documentation for Equifax Apply has been move to the Developer Centre: https://developercentre.equifax.com.au. This includes channel connection documentation, product guides, schemas, sample XML, test cases, and release notes.
Equifax Apply is our next generation origination solution that will enable you to transition to CCR at your own pace, confident in the knowledge that it has been built and tested using data from the market leading CCR pilot by Equifax.
Globally, it is best practice for credit providers to have portfolio management solutions that utilise data from credit bureaus.
With data from your internal systems only you may not know:
If an up-to-date customer is experiencing financial difficulty elsewhere
If a customer in early collections is likely to self-cure
If a customer in late collections is likely to recover.
Equifax’s Portfolio Management Solutions provide external insights to assist your business in completing the credit risk picture of your existing customers.
Acquiring and engaging a new generation of members is central to the success of your organisation going forward. Are you equipped to protect the interests of your member base in a digital world? Equifax can position you for the future with solutions to:
Identify and on-board high quality prospects
Meet AML obligations and protect members from fraud
Growth and automate your lending book with CCR
Due diligence for commercial and property solutions
