Callcredit Announces Strategic Preferred Supplier Deal With Lloyds TSB
Callcredit has reached a strategic agreement with Lloyds TSB, the UK's biggest unsecured lender, for the supply of consumer credit referencing services.
As a preferred supplier, Callcredit will provide Lloyds TSB with a number of data solutions for use in its customer acquisition and management processes, including Callcredit's recently launched Over-Indebtedness Initiative, which allows participating lenders access to a unique method of assessing the affordability of credit applications before they are granted, and monitoring the indebtedness of existing customers more effectively.
Callcredit's Managing Director John McAndrew commented:
"We are delighted to have been chosen by the UK's biggest consumer lender to provide such a broad range of credit reference services. Lloyds TSB supported us from the beginning in terms of providing data and they have been rigorously testing and using our services for some time. This is a milestone in Callcredit's development and further evidence that we are delivering on our promises to the industry."
Walt Ramsey, Lloyds TSB Consumer Lending Managing Director, said:
"After carrying out a strategic review, it was evident that to better manage operational risk, we had to reduce our dependence upon legacy suppliers. Callcredit offers us information and technology solutions which are unique, cost effective and enable our organisation to improve its risk decisions. We are delighted that we have reached this agreement with Callcredit."
Callcredit launched in 2000 as the UK's first new technology driven credit reference agency, with systems built to take advantage of modern technology. It has since developed a comprehensive range of credit risk, indebtedness, anti fraud, marketing and ID verification services, which are all accessible online 24 hours a day, 365 days a year.