Nick Green Director at Purple Patch Broking Ltd
A lack of transparency in lending is an old problem made new again with BNPL. According to concerning reports, the UK government plans to delay regulation of the BNPL industry. But behind its ease of use, BNPL could create gaps in data without oversight and transparency. Without the right regulation, financial services could operate in an environ...
17 August 2023 /regulation /retail Banking
Stressed out and overwhelmed - that seems to be the sentiment among data leaders in financial services. A recent survey by data management firm Solidatus revealed alarming levels of work-related stress and anxiety. The findings are concerning: 71% of financial services senior data leaders say they are on the verge of quitting their jobs due to hig...
15 August 2023 /regulation /retail Banking
In financial services, data is the lifeblood that powers every decision. However the current landscape is riddled with challenges, most prominent among them being the lack of transparency in data pricing. Opaque pricing models and disparate costs can throw a spanner in the most well-oiled procurement teams. But the significance of efficiency in thi...
25 July 2023 /regulation /retail Banking
With rising costs and growing data needs, financial services procurement teams are under intense pressure to optimise spend and make strategic decisions. This calls for a new approach - one grounded in data. Data benchmarking provides the visibility procurement teams need to drive real change. By comparing your data pricing, quality, and accuracy a...
20 July 2023 /regulation /retail Banking
The right data bureau will offer their services in the most transparent and flexible way, as well as be a valuable asset to your credit risk team. But how do you know if your current bureau is the ‘right fit’? If you’ve decided to review existing suppliers, you probably have no idea where to begin your research. On the other hand, you might be war...
04 July 2023 /retail /crime Banking
The lending universe heavily relies on credit data in assessing an individual's creditworthiness. This information is collected and analysed by CRAs, like Equifax, TransUnion, and Experian, generating credit scores that guide lenders in their decision-making process. Nevertheless, a critical choice confronts lenders: should they depend on a single...
26 June 2023 /regulation /retail Financial Services Regulation
As much as we try to get everything right at the outset, sometimes it becomes necessary to renegotiate a contract. Maybe there’s been unforeseen challenges or shifts in the market that might mean you simply need to update the agreement. With the challenges present in our economy, it’s possible that you’ll need to rework contracts with data supplier...
18 May 2023 /regulation /retail Fintech
As lenders continue to evolve their credit risk strategies, perfecting how you buy credit bureau data is an important part of that process. But if your process for buying data has weak spots you could end up paying more than your peers and have poor quality data. In short, having a sound data buying process is critical. Gone are the days when extr...
16 May 2023 /regulation /retail Banking and Lending Solutions
In today's financial landscape, fintechs, banks and other lenders need to make sound credit decisions in order to stay afloat. And one of the most important factors in making accurate credit decisions is having high-quality data. But if your data is incomplete, outdated, or not compliant, you won’t be able to use it to make the right risk decisions...
20 April 2023 /regulation /retail Financial Services Regulation
When it comes to reducing data bureau pricing, what matters most isn’t what you paid last year, but how you can get the best price for the highest quality data and scores. We have worked with hundreds of organisations across a huge swath of the credit industry, helping them do just that. Over time, we’ve learned to recognise a number of important l...
18 April 2023 /regulation /retail Banking
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