Before you give credit, know the score.
New legislation is fundamentally changing Australia's credit landscape. As a lender, responsible lending laws now require you to make 'reasonable enquiries' about a consumer's financial situation.
VedaScore is a score or a credit risk ranking tool that helps you to assess a credit application. This is a leading score in Australia for businesses that require a robust risk assessment process to enable growth in market share in the small business segment - while also reducing acquisition costs.
Veda's access to both personal and commercial data sourced from a broad spectrum of industries and credit providers allows credit managers to access superior scorecards. VedaScore makes full-use of all available Veda data, including personal + commercial data and enquiry + adverse data.
Benefits to you
VedaScore can help you to:
- Increase approval rates and revenue in the small business sector
- Lower your risk exposure through access to detailed data
- Reduce acquisition costs through automation
- Increase consistency in assessment processes
- Make the right lending decisions to approve the right customers
- Provide one single, easy-to-understand score.
Veda holds more fit-for-purpose credit data than any other organisation in Australia with information on 16.4 million individuals.