CRIF UK

💡 New Blog Non-performing assets pose a significant challenge to financial institutions, impacting both solidity and profitability. Effective management requires comprehensive strategies, including thorough credit assessments, continuous loan monitoring, and efficient recovery processes. Key highlights: • Proactive monitoring of loan portfolios is crucial for identifying potential issues at an early stage. • Importance of advanced analytics and credit scoring models to streamline lending decisions, risk assessments and reduce defaults in real-time. • Staying compliant with evolving regulations, including AML protocols. Find out more about how financial institutions can tackle NPAs effectively 👉 https://hubs.ly/Q02MmGvs0 #CreditRisk #NPAs #RiskManagement

Proud to be part of the Centre for Finance, Innovation and Technology (CFIT)-led SME Finance Taskforce and excited to share its comprehensive report. This strategic plan is designed to enhance access to finance for UK SMEs, driving innovation and economic growth. From data sharing improvements to financial transparency, CRIF is working to help financial providers overcome today’s biggest business challenges and better meet customers’ needs. Through open banking data and advanced analytics, CRIF helps organisations to understand their customers – whether SMEs or individuals – with greater speed, accuracy and detail than ever before. Discover the full report to see how we plan to make a real difference for small businesses! 👇 https://hubs.ly/Q02M9xMN0 #UKFintech #SmartData #SMEGrowth #SMEFinance

Are consumers willing to share their data? 52% of consumers worldwide would be willing to share data if there is a better chance of accessing financial products at a cheaper rate. However, there are generational differences. Younger consumers are more comfortable with sharing their data if it improves their financial outcomes, while older consumers tend to be more reluctant. By understanding these shifting consumer sentiments across generations, financial institutions can effectively assist individuals in managing credit responsibly and achieving financial stability. Download your free copy of Banking on Banks 2024 Report: Credit and Debt to discover more about the generational divide https://hubs.ly/Q02G9RPC0 #CRIF #BankingonBanks #Credit #Debt

Which are the UK towns and cities where you are least likely to be involved in a traffic collision? Drivers in Shrewsbury have a 38% lower chance of being involved in a collision, which means they are less likely to file an insurance claim. CRIF’s analysis draws on a wide range of granular data sources, providing insights into the factors that can contribute to a road collision and impact insurance premiums. Download our infographic 'Traffic Collision: Riskiest UK Cities, Towns & Factors' to discover the full list of towns: https://hubs.ly/Q02HBhZd0

The worst of the cost-of-living crisis might be behind us, but its impact lingers. Our Regional Director for the UK & Ireland, Sara Costantini, has written a new blog exploring how consumers are still affected and what banks and insurers can do to help 💡 Key insights: • 22% expect their financial situation to worsen. • 71% of Europeans are worried about their finances. • 30% took up credit cards last year, but many face barriers to credit. Read Sara's blog here: https://hubs.ly/Q02KcVyQ0 #OpenBanking #FinancialInclusion #CostOfLivingCrisis

Who’s responsible for consumers’ overindebtedness? 48% believe it’s the bank or lender’s responsibility to ensure people don’t fall into debt, and 22% worldwide think it’s the government’s responsibility. Check out all the results in the latest Banking on Banks 2024 Report: Credit and Debt https://hubs.ly/Q02KcT7_0 #CRIF #BankingonBanks #Credit #Debt

Curious about the key factors that can lead to a car collision? Discover the top proximity risks 🚗 CRIF’s analysis draws on a wide range of granular data sources, providing insights into the factors that can contribute to a road collision and would impact insurance premiums. Download our infographic 'Traffic Collision: Riskiest UK Cities, Towns & Factors' to learn more: https://hubs.ly/Q02HBgV20

A major milestone for open banking in the UK! Great to see that 10 million consumers and small businesses are now benefitting from the technology 🏦 We’ve been working closely with UK banks and financial providers to help them harness the power of open banking to offer their customers a better, more enhanced service – from more tailored products and accurate credit decisions to smoother onboarding and customer management. While a lot has been achieved since its launch six years ago, there’s still plenty to do to ensure more consumers and businesses can access the benefits of open banking. https://hubs.ly/Q02J4brx0 #openbanking #data #fintech

The need for financial products and services remains high. 50% of European consumers believe that it is harder to get by without relying on credit or borrowing than it was 12 months ago. However, many are being turned away from accessing credit-based financial products and services - like credit cards - despite relying on them. In the Austrian, French, German and UK markets, there was an increase in borrowing or credit refusals compared to last year, raising concerns about financial exclusion. In fact, one in ten Brits are "credit invisible", equating to 5.6 million people. This trend, along with rising debt levels, highlights the importance of enhanced risk assessment solutions to promote financial inclusion. Discover more in our Banking on Banks 2024 Report: Credit and Debt https://hubs.ly/Q02G9Fxc0 #CRIF #BankingonBanks #Credit #Debt

Which are the UK towns and cities where you are most likely to be involved in a traffic collision? Drivers in Oldham, Birmingham and Luton are significantly more likely to be in a traffic collision than any other place in the UK. CRIF’s analysis draws on a wide range of granular data sources, providing insights into the factors that can contribute to a road collision and impact insurance premiums. Check out the full list of towns in our 'Traffic Collision: Riskiest UK Cities & Factors' infographic by downloading it here: https://hubs.ly/Q02HdYTZ0