What waterfall of data and bureaux should you use?
Unsurprisingly, the FCA findings in November 2022 have left credit providers feeling a little lost. Whilst we await the regulator's review of the credit information market, what should credit providers do?
Here are two articles that can help...
What waterfall of data and bureaux should you use????
The shock revelation of even the top 3 bureaux having major differences in data – directly impacting scoring – is understandably a major concern for credit providers.
This impacts accurate affordability assessments and fair lending. And to those that are wrongly accepted, it creates major debt risks for both the consumer and the lender.
So, what do credit providers do now?
How do they manage risk whilst the FCA reviews the credit information market, and how are things likely to change post-review?
Take a look at our latest blog for ??
What is data benchmarking (and why does it matter)? ??
In light of the FCA's review of the credit information market, data benchmarking is now a bigger necessity than ever before.
Aside from highlighting price differences paid between competitors of up to 500%, data quality is now being questioned -- with quite shocking revelations into the discrepancies even across the 3 major bureaux.
Take a look at this ultimate guide for: