Veda Consumer Credit Analysis
Veda Consumer Consulting
Veda Identity Verification and Vetting
Veda Skip Trace
Veda Fraud Protect
Quickly and accurately assessing your credit applications is key to giving your potential customers a positive experience as you also manage your business risk and comply with legislation. If credit is granted to high risk individuals the result may be bad debt write-offs. On the other hand, playing it too safe can mean low acceptance rates, market share and worse still, lower profits.
A VedaScore summarises Veda bureau information on a credit report into a single powerful number. It means you don't have to analyse multiple data elements on a credit report to understand an applicant's credit risk. Using VedaScore as part of your credit assessment process, including review of application form information, helps you to reduce your credit risk losses and improve portfolio profitability.
Veda's credit reports:
The VedaScore helps with:
New responsible lending laws require you to make 'reasonable enquiries' about credit applicants by applying robust credit risk management processes and using the best available information. A VedaScore and credit report provides invaluable insights into an applicant's relationships with other lenders giving you a comprehensive view of your customer's credit activity. Together with an assessment of income and expenses VedaScore should be an indispensible part of your National Consumer Credit Protection (NCCP) responsible lending process.
Download the brochure