Commercial Credit Data Sharing (CCDS): The lender’s perspective: How you can use this data to lend to SMEs

The DNA of a SME lender is changing inexorably, especially for those looking to operate at scale. CCDS can be a foundation stone of a new form of customer intimacy inspired by the possibilities of customer-centric data, related analytics and new technologies.

Carphone Warehouse

"The tool is fast and simple to use, helping us to improve the customer experience and achieve better conversion rates and operational efficiencies."

Santander

"Equifax helped us to develop a real-time solution to meet our customers' lending needs, providing small businesses with access to finance in minutes."

A Driving Force for Change

With the increased regulation and a focus on affordability and responsible lending, the automotive sector is likely to come under increased scrutiny.

Affordability: Disruptive but kind of old-fashioned too

Martin Leonard, Chief Operating Officer at Castlight Financial, explains how cutting-edge technology is honouring old-world values.

Affordability and creditworthiness in the retail sector

UK retailers are under closer scrutiny as the FCA drive an increased focus on responsible lending to tackle persistent debts. Discover how new regulations could affect retailers offering consumer credit.

Choosing suppliers & requesting payment holidays

In October 2015, we surveyed 200 consumers asking them about key drivers for choosing suppliers, staying or leaving them, and around requesting payment holiday.

Commercial Credit Data Sharing and Open Banking: Frequently Asked Questions

Data holds the key to unlocking unallocated cash

Anonymous utility bills paid online can often leave companies with the problem of tracking down who made these ‘unallocated payments’ to avoid growing levels of aged debt.

Embracing Change

Mark Fish, Senior Insights Delivery Consultant, Europe, discusses the current challenges in the world of analytics and why organisations need to be looking to the future.

Expecting the unexpected

FCA authorisation, a renewed focus on affordability and the prospect of interest rate rises means lenders are reviewing their policies, procedures and risks. Consumer credit industry journalist Heather Greig-Smith talks to the Finance & Leasing Association and British Bankers Association for their perspective on the changing regulatory focus.

Factors affecting adoption of CCDS

What are the factors affecting adoption for CCDS?

Faster Switching

Energy suppliers are under pressure to improve the ease and speed with which customers can switch from one to another. Rebecca Hammond, Head of Utilities at Equifax, talks to Perspective about how Equifax can help them maximise opportunities and minimise risk.

Financial Vulnerability

Richard Haymes is Head of Financial Difficulties at TDX Group. Here he discusses the difficulties facing vulnerable consumers – and the challenges they can pose to businesses.

From kinetic to synthetic

Keith Manthey, CTO Analytics, Emerging Technologies Division at EMC², talks to Perspective about the risks presented by synthetic identity creation and how businesses can best protect themselves from cyber fraud.

Glossary: Open Banking and PSD2

The acronyms and terms you need to know for Open Banking and Payment Services Directive 2.

Homing in

Paul Heywood, Senior Consultant and Ryan Peacey, Head of Financial Services, discuss the rise in mortgage fraud rates and how Equifax is working with lenders to help them comply with increasingly stringent regulations across the industry.

How lenders can use CCDS for product development and credit policy

CCDS data allows a lender to build on ongoing picture of the resilience and liquidity and of each of its customers.

How lenders could use CCDS for client acquisition

How lenders could use CCDS for customer management

CCDS offers a number of data points which will help to determine the correct course of action based on the customer’s situation.

Knowledge is power: How affordability assessments can benefit both lenders and consumers

Laura Hales, Product Manager – Scoring and Intelligence at Equifax, explores how different kinds of affordability measurements are changing the future of borrowing, and lending, for the better.

Mighty oaks from little acorns grow

We explore how the financial landscape is changing when it comes to SME lending.

Mind the gap: Closing the gulf between credit risk and application fraud risk

The Financial Conduct Authority requires that lenders capture sufficient information in order to make an assessment of creditworthiness and affordability.

MLD4 Explained

What the latest Money Laundering Directive could mean for your business.

Nearly half of Brits have no savings for unexpected financial events

A recent online survey,conducted by YouGov on behalf of Equifax,reveals that 43% of British adults don’t have any personal savings set aside for unexpected financial events such as unemployment, illness or urgent repairs to their home. The survey was completed by more than 2,000 consumers in October 2017.

Once upon a time...

Communication specialists from Media First explain what we can learn from journalists when it comes to the power of storytelling in business.

Open what?

With the implementation of Open Banking now only a few months away and the deadline of January 2018 looming, we wanted to take a deeper look at current awareness and attitudes to the initiative among business users.

Raising the bar

Richard Litchfield, Head of Consumer Credit Underwriting at Lending Works, discusses how peer-to-peer lending platforms are improving standards when it comes to fraud prevention.

Self-defence: protecting against identity fraud

How do consumers' fraud fears align to their apprehensions when applying for new products and services, and what can companies do to protect their customers – and themselves – from fraud?

Supercharging SME lending

Nic Beishon, Head of Commercial at Equifax, explains how changes in credit data sharing will be of benefit to both small and medium-sized enterprises (SMEs) and their lenders.

Surveying the lending landscape

Laura Hales, Product Manager at Equifax, explains how the credit landscape has evolved over the past eight years for lenders and borrowers alike.

The business of lending

Paul Strellis, Business Consultant at Equifax, talks to Perspective about how businesses, as well as their customers, benefit from responsible lending, and how Equifax InterConnect can help put it into practice.

The changing colours of chargebacks

Last Month VISA changed its rules surrounding chargebacks and set up new workflows, which could potentially impact Equifax customers involved in e-commerce trading.

The changing face of the short-term credit market

An industry commentator talks to Perspective about how the short-term credit market is transforming before our very eyes.

The New Era of Privacy: Consumer rights and corporate responsibility

Our guest contributor Mark Weston, Compliance Manager and Data Protection Officer at iovation, considers the impact of compliance on customers’ experiences.

The power of data science

What can data science achieve, and how can it help your business? Anita Dougall, CEO & Founding Partner, Sagacity, explains.

The thriving world of mortgage fraud

With the threat of organised mortgage fraud remaining, David Higginson, Identity and Fraud Consultant at Equifax outlines counter-fraud strategies lenders can employ.

Underpinning innovation with big data and analytics

Mark Fish, Equifax Ignite Lead, Europe, explains what big data is, why it's important, and the steps companies can take to improve their big data and analytics capability to achieve meaningful, data-driven innovations.

What information is shared with CCDS?

What is CCDS and why is it important?

This rich new stream of data supports new lending and competitive opportunity for non-bank lenders.