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Commercial Credit News
|Equifax selected as consumer data provider for Metro Bank|
|Wednesday, 25 March 2015|
Equifax, the consumer and business insights expert, has expanded its relationship with Metro Bank, having been chosen as its consumer data partner. Metro Bank will use Equifax data to help assess its consumer credit applications and complete creditworthiness and affordability checks to help facilitate informed and responsible lending decisions.
Britain’s first new high street bank in over 100 years has extended its existing contract with Equifax and adopted Equifax Income Verification to assist with validating the income of customers applying for credit. The solution helps Metro Bank to assess the financial stability of a prospective borrower and their ability to repay the loan, helping it to ensure that its lending decisions are appropriate and in-line with regulatory requirements.
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