Signs of Recovery as NSW Opens and Business Credit Demand Lifts
21st Oct 2021

The recovery in business credit demand eased in Q3 2021, but recovery may be imminent as states make their way out of lockdown. Data from the first four days of NSW reopening after 15-weeks in lockdown shows a jump in demand across all categories of credit. Asset finance enquiries rose by +25.1%, trade credit by +15.5% and business loans by +2.5% in the week of 11-14 October compared to the previous week in lockdown.

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How to conduct a risk assessment of potential candidates

For some professions, conducting police checks on candidates and employees is a mandatory requirement under legislation and industry regulations. Many organisations also conduct background screening voluntarily to guard against potential risks, such as fraud, identity theft and false credentials. However, managing your risk goes beyond a simple police check.

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7 ways to prevent cybercrime in property transactions

Where there’s money up for grabs, there’s the possibility of crime, and the property market is no exception. The vast sums of money associated with home sales make the conveyancing industry an ideal hunting ground for cybercriminals. With numerous fraud opportunities available pre-sale and post-sale, fraudsters are using increasingly sophisticated methods to intercept property fund payments, steal identities, forge documents and attack computer systems.

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PPSR Expiry and Renewals

Since late 2018, many businesses have undertaken the complex process of renewing their security interests on the PPSR. As the majority of original registrations were for seven years, many have been up for expiry since the seven-year anniversary on 30 January 2019.

The ramifications are serious if a registration lapses due to non-renewal. A lapsed registration cannot be restored. It will simply disappear, never to be seen again. If you don’t have a warning system that notifies you of approaching expiries, you may not even be aware that it has gone. 
 

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Customer Analysis Build Brand

This Australian telecommunications company wanted a clear picture of who their commercial customers were, with the objective of gaining a firm factual understanding of their target market to help improve customer reach and business growth.  Find out how they achieved it.

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Millennial lending opportunities

Ashleigh is a typical credit-active, low-risk millennial. Loosely defined as the generation born between 1981 to 1996, this segment of potential borrowers presents significant opportunities for credit providers. Understanding the common characteristics of millennials is critical if lenders want to engage with, and successfully target products at this prime customer group. 

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8 answers to the most popular open data questions

Open Data was a hot topic at the Equifax global SPARK conference, held in Sydney on 10 September 2019. With consumer, account and transaction data due to become available from February 2020, there's much interest in the implementation of the Consumer Data Right in Australia.

Here are the top eight questions put to a leaders' panel that included Fred Schebesta of Finder, Damir Cuca of Basiq, Kari Mastropasqua of Equifax, James Bligh of Data 61 and Alex Ortner of Allens.

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But construction industry insolvencies continue to increase on an annual basis, jumping to 24% for the September 2019 quarter.

The latest statistics1 by the Australian Securities and Investment Commission (ASIC) reveal that the construction industry is a leading contributor to Australia’s rising rate of company defaults2 (EXADs). The impact of failed construction companies is especially noticeable in the eastern seaboard, where insolvencies increased in Victoria by 78%, Queensland by 41% and NSW by 7% for the September 2019 quarter (QoQ).

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Lessons learned about Open Banking in the UK

It’s famously said ‘experience is the teacher of all things’, so where better to turn to for open banking lessons than the UK. With open-banking regulations in force since early 2018, much can be drawn from the British financial services sector’s experience.

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Equifax Quarterly Consumer Credit Demand Index: Sept 2019

Equifax Quarterly Consumer Credit Demand Index: Sept 2019

Overall consumer credit applications down -9.87% (vs Sept quarter 2018)

Credit card applications declined by -12.41% (vs Sept quarter 2018) and personal loan applications dropped by -7.80% (vs Sept quarter 2018)

Mortgage enquiries increased by +2.01%, the first rise in nine consecutive quarters

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Equifax Quarterly Business Credit Demand Index: Sept 2019

Equifax Quarterly Business Credit Demand Index: Sept 2019

Overall business credit applications down -6.40% (vs Sept quarter 2018)

Growth in business loan applications up +3.34% (vs Sept quarter 2018), while trade credit applications fell -4.21% (vs Sept quarter 2018).

Asset finance applications declined -24.88% (vs September 2018).

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