Every year, Australia businesses write off billions of dollars in bad debt. By better understanding credit and fraud risk, and proactively managing existing customers and the collections process, you can help to improve customer satisfaction, reduce the incidence of bad debt write-offs and ultimately improve your bottom line.
Veda holds data on more than 16.1 million credit-active individuals, 3.6 million on companies and businesses and 3.81 million on Sole Traders throughout Australia, providing customers with the ability to make more informed decisions.
- Individual credit risk across origination and account management
- The credit history of companies and the people behind it
- Information on a Business or Company
- Assessing Supplier and Procurement risk
- Business credit checks
- Verification of individuals and assets
- Fraud Prevention of individuals and devices
- Marketing Services to optimize acquisition/retention and understand customer value
- Pre-employment screening of job candidates
- Tenant history of new rental applicants.
The launch of the Federal Government’s Personal Property Securities Register (PPSR) has signalled the start of a new and profound era for businesses and consumers across Australia.
The move to a single national register – and legal reform that underpins use of personal property as security for credit – impacts significantly on daily business processes, documentation, systems and the management of credit risk.
Comprehensive Reporting (CR) is all about a change in the credit information that can be shared by lenders for assessment of credit. It will reshape the way lenders assess risk & consumers access credit.
In industry terms, CR means a shift from negative to comprehensive reporting: more data, more often, shared more widely – which provides a more complete picture of a customer’s credit commitments - benefiting consumers, lenders the wider economy.