Callcredit provides credit data solutions to deliver greater insight for PiggyBank Loans
Credit data experts Callcredit Information Group will provide PiggyBank, one of the first peer-to-peer short term lenders in the world, with its CallValidate and CallReport solutions.
PiggyBank has signed up with Callcredit to use its market leading credit assessment and ID fraud and verification products which will help the company to prevent ID fraud and to establish an applicant's ability to pay back the loan and ensure responsible lending practices are upheld.
CallValidate will enable PiggyBank to undertake real time, effective and reliable identity verification checks against bank account and credit card provider's records on each applicant. Callcredit's CallReport will provide the short term lender with quick and cost-effective confirmation of an applicant's name, address and presence or absence of adverse data, as well as assessing the applicant's likelihood of credit risk.
James Blake, Head of Sales, Callcredit Information Group said: "By drawing on our expertise and the depth of our comprehensive datasets Callcredit has been able to meet PiggyBank's requirements and will enable a more accurate risk decisions and help to reduce bad debts costs."
Dan Ware, CEO, PiggyBank commented: "Callcredit fully understood our requirements and responded quickly to our needs. As a new company we needed expertise and support from a respected credit data provider and they were able to provide personal tailored advice.
"It is great to be benefiting from Callcredit's market-leading response times and innovative approach to customer matching."