CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Creditsafe recommended as designated credit reference agency in Autumn Statement
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Creditsafe recommended as designated credit reference agency in Autumn Statement PDF Print E-mail
Thursday, 26 November 2015

Creditsafe, the world’s most used provider of company credit reports, today confirmed that the Government has recommended it as a designated credit reference agency (CRA).  The new appointment, announced in yesterday’s Autumn Statement, means that Creditsafe is one of only three CRAs that will be trusted by HM Treasury to receive SME credit information held by banks.  It will contribute to a wider initiative introduced by the Small Business Act 2015 to increase financing opportunities for smaller businesses.

Creditsafe’s role as a designated CRA will be to receive SME credit information from designated banks and provide equal access to this information to all finance providers. This is a significant milestone in a major structural reform that will promote competition in the SME credit market.

During the application process the British Business Bank which was handling the process for Government stated: “The control of credit information by existing providers is a barrier to entry in the market for lending to smaller businesses. Opening up access to credit data held by the big banks will increase the reliability of credit scores, enabling alternative finance providers to make better-informed decisions about finance provision to smaller businesses.”

Creditsafe has been recommended to be designated as a CRA following a detailed due diligence procedure that analysed agencies’ capabilities in areas such as in-house product development skills to support the integration of bank data with existing credit reports, security and governance management and certification to relevant quality standards including ISO/IEC 27001:2013..

Rachel Mainwaring, Operations Director of Creditsafe, said: “We are delighted to be recommended for designation and to play our part in further opening up finance provision to smaller companies, who often need an alternative source of funding beyond the traditional big banks.

"The appointment is another sign that Creditsafe is a trusted partner to business with a strong governance model and a growing influence in the international credit reporting industry. We are looking forward to contributing to the greater success of British business through this excellent initiative.”
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197