Veda commits to innovation and financial literacy with GetCreditScore appointment

Sydney, Australia: Wednesday 30 September 2015 – Veda, the leading provider of credit information and analysis in Australia and New Zealand, today announced the appointment of its senior executive, David Scognamiglio, to the role of Managing Director of the Veda majority-owned GetCreditScore.com.au business.               

GetCreditScore.com.au was launched as a partnership between Veda and peer to peer lender SocietyOne in September 2014.  A GetCreditScore.com.au pilot offering free credit scores signed more than 100,000 members in its first two months.

Veda acquired a majority stake in GetCreditScore in July 2015.

Mr Scognamiglio was previously Veda’s General Manager, B2C. In October 2013, he led the launch of Australia’s first credit score offering to consumers – the Equifax Score – which draws on Veda data from more than 16 million active consumer credit reports.

Veda CEO Nerida Caesar said: “The appointment of David Scognamiglio as Managing Director of GetCreditScore demonstrates Veda’s commitment to innovation and improving the financial literacy of Australians.

“David’s entreprenueral drive and leadership skills will ensure the future successs of GetCreditScore.

“Technology is empowering consumers to increasingly use credit scores to shop around for a better deal on credit.  An Equifax Score is a number calculated from information in a consumer’s credit report at a point in time and may be used to determine their credit worthiness.  The Equifax Score offer underpins the strength of the GetCreditScore business,” Ms Caesar said.

Mr Scognamiglio said Australia is following the path of international markets, such as the US and UK, where a new class of lender has emerged in the form of online credit marketplaces.

“It is an exciting time to be at the forefront of the Australian credit landscape. I am thrilled to be able to leverage Veda’s status as the nation’s most comprehensive credit bureau through the consumer engagement and financial technology capability of GetCreditScore,” he said.

Mr Scognamiglio’s appointment is effective immediately.