Callcredit to support Nationwide's new credit application functionality.
Nationwide, an international building society, has decided to integrate Callcredit Information Group’s credit and affordability suite into its new credit application functionality.
Nationwide will be able to effectively identify the credit risk associated with each applicant through the real time data solution supplied by Callcredit.
This solution was created to deliver a credit data summary of a customer’s credit file, accompanied by a credit risk score.
By automating applications to Callcredit’s affordability suite, Nationwide will be enabled to validate an applicant’s income and affordability when considering personal loan applications.
This affordability check is intended to simplify responsible lending decisions as it regards over-indebtedness rather than just assessing a customer’s credit history.
Ian Laing, chief risk officer at Nationwide, said: “In reviewing suppliers of credit and affordability data, we have consistently found Callcredit’s approach to be collaborative and client-focused, with the result that we get incremental value from using their data.”
Kaye Rickards, business development manager at Callcredit, said: “Credit checks and robust affordability assessments are a crucial part of the application process.
“As consumers continue to feel the squeeze on their disposable income it is reassuring that Nationwide are actively seeking the means to ensure they continue to lend responsibly.”
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