Approving a credit application without checking a customer’s credit report and credit score is like building a puzzle with missing pieces. You may have some parts of the financial picture, but the overall view will be incomplete and maybe inaccurate. Credit reports and scores help credit providers make informed decisions that benefit the entire lending ecosystem. Here’s how...
As the Government flags new regulations for the buy now, pay later (BNPL) sector, the question of how to mitigate risk has been the cause of much conjecture.
The long-anticipated insolvency backlog ‘tsunami’ may finally be coming to shore.
One year ago, the warning signs for Australia's construction industry were evident. Our data showed that construction industry insolvencies would be on the rise and that small construction business operators were dipping into their personal finances to keep their operations afloat.
Fast forward one year.
Credit card demand continues to grow
The oil and gas giant receives up to 1,000 fuel card applications a month from transport operators around Australia and New Zealand.
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
