Information from payday loan providers
The FCA data comprise loan-level records for applications to U.K. payday lenders from 1, 2012, to December 31, 2013, including first-time and repeat applications january. The data is loans angel loans a payday loan includes records of successful loan applications and loan performance (including information on default and late payments) for thirty-seven lenders operating in the payday loan market, who together constitute 99% of the total market by loan volume. Within these lenders, additional information ended up being collected for eleven big loan providers whom together constitute more or less 90% associated with market by loan amount. Information includes information on unsuccessful applications plus the credit history value assigned to every application. The information set also contains details about company credit choice processes, including other assessment procedures such as for example fraudulence testing.
Using the loan-level information given by loan providers, the FCA commissioned a U.K. credit bureau to make use of its proprietary matching technology to recognize unique individuals. The credit bureau matched determining private information (name, target, date of delivery) from company documents to customer documents inside their database, as soon as doing this additionally matched consumers for their credit files and offered these towards the FCA. (more…)