Peachy Loans signs up to Callcredit’s Affordability Report
Peachy, the short term lender, has signed up to Callcredit's Affordability Report which will enable the fast, easy and secure lender to validate an applicant's income and assess their affordability with ease.
The short term lender has signed up with credit reference and marketing solutions expert, Callcredit Information Group, who will help Peachy to accurately validate their customer's income to ensure the information they supply when applying for a loan is correct. This information will provide Peachy with assurances that the applicant can repay the loan and ensure responsible lending practices are upheld.
Peachy has been working with Callcredit since January 2012 during which time it has also been using CallReport to power its credit assessments and CallValidate to drive identity and verification strategy to assist in the prevention of possible fraudulent activity.
James Blake, Head of Sales, Callcredit Information Group said: "It is important for Peachy to ensure that the applicants to whom they lend can afford to repay the loan. Affordability Report ideally complements our credit assessment and identity solutions and further enables Peachy to deliver more accurate, appropriate and responsible lending decisions."
Kristjan Novitsi, CEO, Peachy said: "As we had already been using Callcredit's credit assessment and ID verification and fraud prevention solutions we knew that Callcredit had a range of innovative and dynamic products, so it was a logical choice to incorporate their Affordability Report into our new lending assessment process."
Callcredit has been working with its clients to extract value from affordability data since the creation of The Over-Indebtedness Initiative in 2005 where leading high street banks joined forces with Callcredit to launch a responsible lending initiative, looking at consumer indebtedness and affordability.