Credit Strategy is today launching a survey with Experian to discover how lenders are reviewing and evolving their use of data, to provide forbearance during the pandemic.
The first in a two-part series, Data and forbearance in the age of Covid-19, will ascertain how lenders are deploying traditional data and new sources, particularly Open Banking and CATO data, to identify which customers need financial assistance, and the extent of support they need.
Crucially, the survey will reveal how lenders view the effectiveness of new data sources being used, and if sudden income shocks on consumers caused by the pandemic, are accelerating digital change among lenders, as they seek up-to-date data on consumers’ circumstances.
Findings from the suvey will enable lenders to benchmark, by providing industry-wide figures on data sources being used, to assess the financial circumstances of both new and existing borrowers.
This survey will establish the scale of lenders’ deployment of data including behavioural sources, the products they’re being used for and how they rate the success of this so far.
Results of this survey will be aggregated for an article published in Credit Strategy, portraying emerging trends and activity.
Survey participants will be entered into a prize draw - for a Fortnum & Mason luxury hamper, and three-month Premium membership to Credit Strategy. The latter provides exclusive access to the entire Credit Strategy website, giving you the chance to browse through Best Practice Case Studies from the UK’s largest creditors, as well as expert opinions, webinar recordings, conference presentations and more.
Note: Individual answers provided to the survey will be subject to the same non-disclosure terms & conditions that apply to all Credit Strategy’s awards entries. These Ts&Cs guarantee that individual results will not be published anywhere on Credit Strategy’s website, magazine or social media channels. Only aggregated results are published to show industry trends.
Members can complete the survey here.