CallMonitor Expanded to Include New Datasets

New triggers will instantly alert to changes in consumer circumstances

Credit Reference Agency Callcredit has today announced that it is further enhancing its award-winning daily alerts solution, CallMonitor. These upgrades are part of a continuous programme and will enable financial institutions to make quicker and more informed decisions about their customers throughout the credit lifecycle.

The enhancements include new data sources such as Debt Relief Orders, Individual Voluntary Arrangements, bankruptcy and Student Loan Defaults and will also allow lenders to see when a customer has made a Payment Protection Insurance claim.

In a volatile market where recent analysis shows that over a period of three months, over 50% of all customers show some change on their credit file, lenders need to respond quickly. CallMonitor highlights these changes to you immediately enabling lenders to take action daily rather than monthly and preventing accounts from falling deeper into arrears.

This allows users to easily distinguish between customers who have taken out additional credit elsewhere when payments to you have been missed and those who have simply missed payments  that might lead you to review your exposure. For the first time, it is possible for you to prioritise customers whose circumstances have changed or are about to change, enabling you to develop targeted risk management strategies.

Graham Lund, Callcredit's Managing Director comments,

"Updating our existing CallMonitor service is an necessary step to ensure financial institutions are given the earliest warning signs should their customer's show signs of risk, over-indebtedness or fraud. This not only promotes the need to promptly reassess customers, it also supports institutions in treating customers fairly by helping them to only contact those customers whose circumstances have changed.

"When CallMonitor first launched in 2006, it broke new ground.  With these latest developments, it looks set to continue to remain at the forefront of the financial services sector, changing the credit landscape for the better."


Notes to editor

The new CallMonitor triggers include:
- Student Loan Default
- Consumer Performance
- Payment insurance claim
- Dormant account activation
- Specific account settles
- Specific segment status movement
- Limit reduction
- Lending over the limits
- Specific lending product split
- Specific triggers: bankruptcy, IVA, DRO

About Callcredit Check

• Callcredit Check 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 is the UK's most innovative and customer-focused Credit Reference Agency, with an established reputation for service differentiation; focusing on listening to clients and creating innovative solutions that deliver real business value. Find out more at www.callcredit.co.uk

• Callcredit is one of six core businesses that form the Callcredit Information Group (CIG). CIG brings together experts across the fields of credit referencing, marketing services, interactive solutions and consultative analytics to enable our client base of businesses and consumers to make informed decisions using our innovative products and services.

The group is made up of two complementary divisions:

  • Credit Solutions, encompassing Callcredit, Legatio and DecisionMetrics - specialists in credit risk, Identity verification services and tracing tools.
  • Marketing Solutions, providing specialist knowledge in customer analytics, consumer targeting, database building and hosting, marketing communications, business modelling and market analysis through three market leaders in their own fields: EuroDirect, Broadsystem and GMAP Consulting.