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Introducing a 'fit and proper person' test for key personnel of approved aged care providers is one of the recommendations made in the final report of the Royal Commission into Aged Care Quality and Safety. It's an acknowledgement of how vital it is for providers to understand more about their workforce's skills and experience.

The deferred payment agreements and default reporting gaps left on credit files from COVID-19 will continue to hang around long after the pandemic has run its course. 

There’s often confusion about the https://www.edxppsr.com.au/resources#glossarypurpose of the Personal Property Securities Register (PPSR). Business owners who don’t realise how important it is to register on the PPSR miss out on a valuable opportunity to protect against the financial loss that could occur when a customer goes bust.

With mortgage enquiry volumes on the rise in Australia, marketers have a huge opportunity to make their ad dollars work harder if they target their digital campaigns towards audiences that have a strong intent to buy and a less risky profile.

The newly released Equifax Score is our most predictive score yet, making it easier for lenders to extend credit responsibly by more accurately assessing the risk of default for each customer1.

SYDNEY – 1 March 2021 – Equifax, a global data, analytics and technology company and leading provider of credit information in Australia, has finalised the purchase of Creditworks to help trade credit and SME businesses manage commercial risk through end-to-end credit automation.

For some credit applications, it’s a fast and straightforward decision whether to grant or deny approval. For others, evaluating a borrower’s credit risk isn’t as easy, requiring more time and work chasing up referrals and double-checking background information. These marginal applications are a drag on efficiency, slowing down processes and impacting profitability. Too many credit opportunities are rejected because not enough is known about an applicant at this early stage of the credit lifecycle.

Equifax Quarterly Business Credit Demand Index: Dec 2020

Overall consumer credit applications down -21.9% (vs December quarter 2019)

Mortgage applications increased by +19.3% (vs December quarter 2019).

We all know how important it is to be able to explain and justify the basis for a credit decision. It’s not just lenders and regulators seeking greater explainability, but consumers too want the transparency of understanding why a loan was approved or denied.