Veda's Pilot Study
In 2011, ten major lenders with a 75% share in Australia's consumer credit market took part in Veda's Comprehensive Credit Reporting (CCR) pilot program. The two-year pilot combined de-identified account records to map real data from credit cards, mortgages, personal loans and car loans. This created a cross industry view of millions of Australian credit accounts.
As the largest pilot of its kind, it has enabled Veda to consider all critical factors and again valuable insights relating to CCR in Australia. The pilot study indicated that CCR will not only result in proactive, empowered customers - but will also result in increased insight, reduced risk and improved profitability for lenders across Australia.