Callcredit support APACS and card providers in behavioural data sharing
Additional data sharing is key to responsible lending
Callcredit, the UK's most innovative credit reference agency, today announced its support of the APACS data sharing initiative describing the move as "an important step towards combating over-indebtedness".
From December behavioural data will be supplied by credit card providers to the three credit reference agencies giving lenders a clearer picture of how customers use their credit cards, allowing them to identify customers who are experiencing financial difficulties.
Callcredit's SHARE database has been updated and the new behavioural data will be available to clients from 1st December 2008.
The new data available will include:
• The amount of the last payment made and whether this is
equivalent to the minimum repayment requested;
• The number and value of cash advances being made on that credit card;
• Whether there is a promotional interest rate on the credit card account (which might explain why a minimum payment is being made)
Graham Lund, Managing Director of Callcredit comments, "Callcredit has worked closely with both APACS and credit card providers to ensure the success of this initiative, and the additional data sharing is an important step towards combating over-indebtedness. Now more than ever lenders are looking for greater insight into their customer's levels of debt stress and this initiative goes further to demonstrate the industry's commitment to responsible lending."
• 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 check (www.callcreditcheck.com) is the consumer arm of credit reference agency Callcredit, providing consumers with instant online access to their credit report and services to help them monitor their credit status.
• 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 Callcredit 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