Callcredit Information Group leads the way with real-time data sharing
Callcredit Information Group has announced its intention to enable real-time data sharing which will be available to lenders across its portfolio of clients from April 2014.
Callcredit is continually looking to encourage greater data sharing, in order to provide lenders with the additional information. This wealth of data, enables lenders to ensure they make accurate and responsible lending decisions. Callcredit currently has a number of such initiatives and providing more timely data sharing is one of these projects.
Peter Mansfield, Managing Director of Callcredit Limited, commented, “The lending landscape has changed considerably over recent years. There is a growing consensus that the availability of more frequent data sharing is required to ensure responsible lending in certain sectors. In response to this, together with feedback from our clients, trade bodies and other stakeholders we are delighted to announce that Callcredit will be implementing a real-time reporting solution. As well as addressing specific and immediate concerns in the Alternative Lending sector we believe that it is crucial to build a solution that benefits a broad spectrum of lenders”.
Callcredit is already working with many lenders, including 9 of the top 10 online Short-Term Lenders, with its range of innovative credit reporting, fraud prevention and affordability products. Callcredit collect the vast majority of search and performance data within the Alternative Lending sector, providing lenders with the most comprehensive and accurate source of data, assisting them to make the best possible risk assessments and lending decisions. Combining this extensive level of data with real-time reporting will make it unrivalled in terms of performance and insight.
We can confirm that many of the largest lenders in the Alternative Finance market have already agreed to take part in the real time data sharing initiative.
Peter added, “Our history of innovation in this area, as demonstrated by our daily triggers product and our Overindebtedness Initiative, clearly puts us in an ideal position to be be at the forefront of this development which will ultimately benefit all lenders and the consumer”