|By PR Newswire||
|January 15, 2014 01:00 AM EST||
- Leading credit reference agency Callcredit launches data-sharing initiative due to be rolled out in April 2014
- More frequent data-sharing will lead to more accurate credit reporting
- Real-time reporting will enable lenders to make decisions based on an un-paralleled degree of accuracy
LONDON, Jan. 15, 2014 /PRNewswire/ -- Leading UK short-term loan provider QuickQuid today announced that they have committed to a new innovative data-sharing scheme that will help strengthen responsible lending within the short-term credit industry.
Callcredit Information Group, a leading UK credit reference agency, has announced that they are to enable real-time data sharing for credit reporting from April 2014.
This initiative will ensure that lenders are working to the most accurate and up-to-date view of consumers' circumstances when assessing lending requests.
Speaking of the data-sharing initiative, Andy LaPointe, UK public affairs manager for QuickQuid, said; "It has long been our belief that an increase in data-sharing and real-time reporting between credit reference agencies and lenders is essential to driving best practice within the short-term credit industry.
"We are thankful to Callcredit for investing the considerable time and resources required to make real-time reporting possible. The new real-time programme will not only benefit lenders, but will result in better outcomes for borrowers.
"QuickQuid is committed to collaborating with key stakeholders in order to drive initiatives based on the support and development of consumer protection for short-term and payday customers.
"We are pleased to have been involved in this initiative since its inception and look forward to seeing the positive impact when it is launched."
About QuickQuid: QuickQuid is an innovative technology company and one of the UK's premier short-term loan providers offering online financial solutions to customers looking for an alternative to traditional credit products. QuickQuid is also a founding member of the Consumer Finance Association (CFA), the trade association for short-term lenders in the UK. For more information, please visit https://www.quickquid.co.uk.