Commercial credit demand improving, but small business owners continue to bear the brunt of difficult market conditions
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Business credit demand decreased year-on-year in the December quarter, with commercial enquiry volumes falling across all product types.
Mortgage demand continues to fall, while personal loan arrears suggest further financial turbulence ahead
Equifax Group Managing Director, Melanie Cochrane, explains why financial inclusion should be a top-of-mind issue as Australia braces for an economic slowdown. The vulnerability of financially excluded groups who struggle to access credit is likely to escalate with increased pressures on household budgets. With limited or no access to the credit system, it's harder for Australians to start or grow a business or take control of their financial wellbeing in a way that contributes to the broader economy.
Australians are now taking strategic action to improve their finance and credit standing to combat an uncertain economy, reveals the Equifax Australian Credit Scorecard 2022
Introducing the Equifax A/NZ Sustainability 2023 Focus Areas
While there is no silver bullet for the prevention of cybercrime, there are measures your organisation can take to protect your data assets and avoid making it too easy for cybercriminals to breach your network.
Equifax is aware of an ongoing SMS phishing campaign targeting people impacted by the Optus data breach. DO NOT click on the link, respond to the sender or enter your personal information. Equifax will never ask you to validate your identity by providing your credit card details.
Business credit demand has increased year-on-year in the September quarter, returning to growth following a dip in Q2.
Equifax data shows strong demand for unsecured credit, while buy now pay later growth eases and mortgage demand continues to fall
If you are a residential builder or developer and fail to make adequate legal provisions to protect your customers, your iCIRT rating may be affected.
