Callcredit sees demand for services increase

Callcredit, the UK's fastest growing credit reference agency has witnessed significant growth across both its business and consumer divisions, an upspring which could be attributed to the deepening credit crunch

The number of consumers checking their credit report in March 2008 has increased by 20pc compared to the same month last year. Lenders have also invested heavily in the CRA's fastest growing product, CallMonitor, and are now tracking the financial behaviour of over 35 million consumers every day. The product monitors any changes in activity, acting as an 'early warning' for lenders, alerting them to borrowers who may be getting into financial difficulties.

Graham Lund, deputy managing director, Callcredit comments

"Daily headlines around the credit crunch have forced many consumers to re-evaluate their financial commitments, and we've seen significant growth in the number of people checking their credit report as a first step in this process.

"Similarly, with lenders exercising greater caution, we've seen increased use of our alerts product, with users switching from monthly to daily updates to get a more accurate assessment of their borrowers' financial behaviour".

"2007 was an extremely successful year for our business where we increased revenue by 105% and doubled our market share and staff numbers. In the current financial climate we've focused on developing key tools that feed current financial demand, leading consumers and lenders to realise the benefits provided by an innovative CRA."

ENDS
About Callcredit:

• Callcredit (www.callcredit.co.uk) is the UK's most innovative, state-of-the art credit reference agency, with an extensive range of information and value added services for businesses and individuals.

• Callcredit consumer provides consumers with online access to the details of their credit file at www.callcreditcheck.com

• Callcredit has harnessed state-of-the-art information technology with an unrivalled knowledge of the industry's needs to develop a range of innovative information solutions. Solutions that are enabling major lenders and a host of other blue chip companies to address regulatory requirements, make better credit decisions, target new customers more effectively and manage existing customers more profitably.

• Callcredit is one of six core businesses that form the Skipton Information Group. The other five are:
• Database management company EuroDirect
• Market analysis firm GMAP Consulting
• Online payment service provider, Legatio
• Scorecard development and affordability assessment specialist DecisionMetrics
• Marketing services and database specialist, Broadsystem

• Following the publication of Sir James Crosby's report, Callcredit has joined forces with the other two UK credit reference agencies to offer expert advice for victims of ID fraud. This joined up approach will mean that victims can contact Callcredit who will then alert the other two agencies to the fraud on their behalf. Our ID fraud team will also work with victims to contact all lenders and ensure that fraudulent information is removed and the consumers' credit history is fully restored.