Back to Basics

We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask ... Mel Mitchley, industry relations director at Callcredit, looks at the credit search market

This summer's credit volatility has highlighted how important it is for financial institutions to have access to the most accurate data possible relating to the credit status of potential borrowers. As a result of technological advances over recent years, credit reference agencies (CRAs) have improved the way in which they process and evaluate consumers and their data.

Early practices

The principles of automated decision-making and credit scoring were introduced in the early 1980s. They had