Responsible lending compliance just got easier

Posted by Rick Meredith on 2020-05-11 09:05 AEST

Responsible lending is a journey of continuous improvement, and as the COVID-19 pandemic has reminded us, on a constantly shifting terrain. And from home. Now we’re all doing it from home.

One important aspect of responsible lending is affordability. Affordability assessment requires a reasonable inquiry into the customer’s income and outgoings to understand their ability to meet all the financial obligations they will commit to if they enter into a credit contract. We have solutions to help lenders make reasonable inquiries about a customer’s income and outgoings, however, this post focuses on expense classification.

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Topics: Credit Sense, New Zealand, Australia, Canada

Hardship Support service

Posted by Rick Meredith on 2020-05-11 09:05 AEST

A significant number of people have been directly affected by the COVID-19 pandemic and are dealing with profound changes to their financial circumstances. Lenders are working hard to support affected customers, however the increased volume of hardship applications can affect their ability to achieve well considered, appropriate and timely outcomes for customers. 

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Topics: Credit Sense, New Zealand, Australia, Canada, hardship

Get better insights into spending habits with our categorised report

Posted by Rick Meredith on 2020-05-11 09:05 AEST

The right analysis for the right customer.

Credit Sense offers several report options, each tailored to suit different business use cases and customer data types. Together with custom Decision Points, they deliver valuable and consistent insights and enable our clients to make good decisions, quickly! 

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Topics: Credit Sense, New Zealand, Australia, Canada

Getting gig-y with it

Posted by Rick Meredith on 2020-03-03 17:03 AEST

With more and more people working in the gig economy, being able to identify sources of customer income can make a big difference.

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Topics: Credit Sense, New Zealand, Australia, Canada, decision points

NZ PDF statements now available

Posted by Rick Meredith on 2020-01-21 15:01 AEST

You can now access PDF statements for the majority of bank accounts in New Zealand!

PDF statements are a reliable source of information that compliment customer account transaction histories. Maintain richer source documentation and verify your customers more quickly and easily with their full name and address information from PDF statements. Even better, you can access PDF statements right now without changing your customer journey!

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Topics: Credit Sense, New Zealand

Get WINZ supporting documents with Credit Sense

Posted by Rick Meredith on 2020-01-21 15:01 AEST

Support your customers even more by helping them provide Work & Income NZ (WINZ) information automatically as part of your customer journey.

Visibility of accurate income and expense information is essential when assessing a credit application. Access to reliable source documents is key to visibility, but obtaining them can be challenging and introduce friction in your application process.

You can now overcome this challenge by enabling customers to easily and automatically provide reliable source documents, just like they do bank statements, as part of your customer journey.

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Topics: Credit Sense, WINZ, benefits, New Zealand

Alternative Services market now live

Posted by Nurein Samsuri on 2020-01-21 15:01 AEST

Lead Market can now connect customers with alternative service providers! 

If we can’t connect your customer with a suitable lender, we can now offer them the opportunity to be connected to alternative lending, or finance-related providers like rental or budgeting services.

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Topics: Lead Market, Australia, Alternative Services