Alternative Lending

From short-term lenders to peer-to-peer, we’re helping the alternative lending sector innovate and challenge the financial landscape
The Best Alternative

The fintech-driven alternative lending sector is, by its very nature, constantly striving to deliver innovative and convenient products which challenge and disrupt the traditional financial landscape. We understand and keep pace with the development of new products and FCA regulation to provide transparent solutions which minimize the impact on our clients, ensuring that they remain compliant, competitive and profitable whilst delivering good customer outcomes. We achieve this in part by being committed and proactive members of all the main industry trade associations. This helps us to continue to understand the challenges and needs of our alternative lending clients to deliver what is now a well-regulated sector offering loans which meet the diverse needs of today’s consumers.

“We partnered with Equifax to build our next generation scorecard. They supported the development process extremely well… they understood our requirements perfectly, provided granular insight throughout the process and the end product was meticulously documented.” Credit Risk Director, Zopa Limited

“Equifax has the expertise and in-depth knowledge of the alternative lending market to allow us to be more competitive while at the same time meeting the evolving regulatory requirements effectively. We look forward to working with them to deliver market-leading financial services options that are appropriate for our customers.” Founder and CEO, Lending Works

In this fiercely competitive market it's important for you to make the right decisions across the entire customer journey. We provide you with solutions and detailed consumer insights to minimise risk and reduce bad debt all whilst supporting responsible lending requirements to treat customers fairly.

“Since employing the Equifax solution we have increased our conversion rates, allowing customers to take advantage of cheaper loans and receive quicker approvals. Equifax has provided much deeper insights into the individuals that are applying for loans with us, significantly increasing our ability to make better lending decisions. We are excited to be working with a partner demonstrating real value and innovation in this space.” Director of International Markets, AvantCredit

On-line affordability and indebtedness assessments have now become industry standard to immediately gauge the risks of repaying the loan as well as to improve the customer journey and experience by reducing the requirement for manual verification of income.

“Protecting our lenders is our core business and using Equifax to assess credit worthiness and affordability helps us enormously. Equifax has built up a wealth of experience and expertise in the P2P lending market and their insights allow us to review each loan application in granular detail and make good decisions.” Founder and CEO, Rate Setter

Leading P2P lenders use Equifax insights to help them grade the quality and associated level of risk of each loan. This drives the rate offered to the borrower and the associated risk-based return for the investor. Our experience with the traditional financial services sector is valued and trusted by our clients in the alternative lending market as we help them meet regulatory compliance requirements, especially around affordability within responsible lending. This experience and understanding has informed our real-time reporting solution – Equifax Real-Time Exchange – to capture loan performance information to meet the reporting requirements of all products and sectors – not just those of the high-cost short-term credit sector.

Featured Products and Solutions
Real-Time Exchange
Real-time credit data for the lending market to help you lend responsibly
Income Verification
Robust, accurate income verification
Indebtedness and Income Score
A powerful new score for today’s credit decisions

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