CCDS – opportunities being missed?

Posted on the 17th August 2018

Last year we wrote a white paper on the power for lenders of Commercial Credit Data Sharing (CCDS) – the mandatory sharing of SME current account, credit card and lending data from 9 major banks. The opportunities we identified are significant:

* Up-to-date cashflow information to drive better underwriting outcomes

* Automated population of enhanced scorecards

* Removes the need to request bank statements, increases underwriter productivity, reduces deals lost

* Proposals made easier, increasing new business volumes

* Identification of in-life upsell opportunities

* Early identification of default, improved portfolio management

The data has been in play since December but so far lenders have been conservative its adoption, with only a few companies using it for day-to-day decisioning. Is there a significant opportunity being missed?