The Car Finance Company extends customer verification partnership with Callcredit

The Car Finance CompanyCallcredit Information Group has signed a further two year partnership with car finance specialist The Car Finance Company (TCFC), to supply credit reports and risk assessments through its CallReport product.

The extension enables TCFC to continue to quickly and cost-effectively confirm an applicant's name, address and presence or absence of adverse credit data, as well as assessing the applicant's likelihood of credit risk. This feeds into The Car Finance Company’s current approach of putting the customer first and meeting every customer face-to-face.

The Car Finance Company operates nationally throughout England and Wales and is looking to expand internationally, helping customers get the finance they need for the vehicle they want. By performing credit searches at point of application using Callcredit's CallReport, TCFC is able to derive greater insight into an applicant's financial circumstances. The overall result of which means TCFC is able to accept a greater number of applications whilst at the same time helping to reduce future levels of bad debt.

Ben Allot, Strategic Accounts Manager, Callcredit said: “We've been working closely with The Car Finance Company since its inception in 2007 to provide them with a solution that can verify customers instantly and seamlessly without increasing their exposure to fraud and being able to safely accept more customers - we're delighted to have signed a further two year deal.

“The insight our data provides will enhance the number of applications TCFC is able to accept, whilst obtaining a greater understanding into their customer's indebtedness will help them to make responsible lending decisions regarding the level of credit provided.”

Mark Smith, Managing Director, The Car Finance Company  commented: “At The Car Finance Company we believe it is essential to evidence responsible lending practices whilst at the same time  putting our customers first. It is vital that we have appropriate tools to help us manage credit sensibly and avoid over indebtedness.  We were extremely pleased with the flexibility that CallReport offered us and how easily it integrated into our current systems and approach, which is why we have the confidence to sign a further two year extension to our partnership.”