CCR World Magazine

You are here  :Home arrow News arrow Risk News arrow AvantCredit signs multi-year contract with Equifax
Contact Us Newsletter Signup RSS Feeds

AvantCredit signs multi-year contract with Equifax Print E-mail
Thursday, 30 April 2015

AvantCredit, an online consumer lending platform active in the US and UK, has signed a long term deal with Equifax, the business insights expert. The contract appoints Equifax as a provider of credit and anti-money laundering checks for AvantCredit in the UK.

AvantCredit have  over 180,000 customers on the its platform, and Equifax will provide the company with solutions to verify the identity of applicants, help assess loan applications, and assist in determining the affordability for consumers. AvantCredit will use the Insights provided by Equifax to improve its predictive modelling capability and subsequently offer customers what it considers to be the most appropriate loan rates. The deal supports AvantCredit’s strategy to grow its customer base, control credit and fraud risk, lend responsibly and manage risk.

Craig Tebbutt, Head of Alternative Lending, Equifax said: “We are seeing growth within the FinTech space as individuals seek alternatives to traditional high street lending. AvantCredit is an exciting, innovative new entrant in this sector and was seeking a partner that could turn breadth and depth of data into meaningful insights to improve lending decisions. Equifax insights have helped to increase the predictive ability of AvantCredit’s risk models, better enabling the company to positively identify more applicants.”

Russell Braden, AvantCredit’s Director of International Markets, said: “Since employing the Equifax solution we have increased our conversion rates, allowing customers to take advantage of cheaper loans and receive quicker approvals. Equifax has provided much deeper insights into the individuals that are applying for loans with us, significantly increasing our ability to make better lending decisions. We are excited to be working with a partner demonstrating real value and innovation in this space.”

(Source - Equifax Press Release)  


The CCR World App


Read CCR World as an App on your iPad or iPhone.
Simply click on this link (opens iTunes as an external link) to see the CCR World iTunes Preview and download to receive a free two-week trial or go to iTunes or the App Store and search for "CCR World".

CCR Magazine

Want to know more about the UK credit scene? Then take a look at our sister magazine, CCR, the leading UK publication for senior credit industry executives.

Find out more

CCR World newswire

Sign up to our E-Newsletter and E-Alerts.


Read The Magazine - FREE ONLINE!

CCR World is the premier magazine for consumer and commercial credit professionals. It provides an independent voice to the global industry, breaking news stories and running in-depth features.

It is FREE to read online, so click here to read the current edition online.

(If you have not registered already, you will just need to do so to read all the news and analysis).

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197