Freemans Grattan moves to Callcredit
Freemans Grattan Holdings have signed up to use credit checking and behavioural data solutions from Callcredit Information Group in order to gain greater insight into prospective and existing credit account customers.
The company, which operates under e-commerce brands including freemans.com, grattan.co.uk and lookagain.co.uk, has worked with Callcredit and DecisionMetrics to develop an automated scorecard system for credit-checking new customers applying for credit accounts. It will provide information on the individual's existing credit commitments, including details of payment patterns and debts, to allow Freemans Grattan to make accurate and responsible decisions, while ensuring that the optimum number of applicants is accepted.
In addition, the company will use Callcredit's monthly behavioural data service to identify and manage levels of risk and over-indebtedness among their existing customer base. By assessing customers in this way, Freemans Grattan will be able to identify those who may run the risk of getting into financial difficulties, and then develop individual approaches for each customer type.
Callcredit's behavioural data solution provides batch summaries of customer credit files for use with scoring and decisioning software. It includes information from public and electoral roll records, and uses unique time-series credit data to rank-order consumers according to their credit risk.
Alan Milne, Credit and Financial Services Director at Freemans Grattan, said: "By working with Callcredit, we will be able to enhance and streamline our application process, to ensure that we can accept as many applications as possible while maintaining our responsible approach to new credit accounts.
"In addition, Callcredit's behavioural data solution will help to improve the way we manage our existing customer accounts and ensure that we can address at an early stage any customers who may be struggling to meet their credit commitments."
Sue Woods, Head of Business Development at Callcredit Information Group, said: "We're delighted to be able to work with Freemans Grattan Holdings to deliver improved insight into both new and existing customer base. The range of data sets that we can provide will help them make informed and responsible decisions regarding the level of credit provided, ensuring that their customers are not over-stretched financially, which is of paramount importance in today's financial climate."