Latest opinions that Nick Green has shared on Finextra

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Nick Green

Director

Purple Patch Broking Ltd

Member since

07 Dec 2020

Location

Nottingham

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Nick's opinions

Transparency in credit data: What does it really mean?

From determining eligibility for a new loan to assessing financial vulnerability, credit data plays a pivotal role in financial decisions. Yet, how often do we pause and ask: How transparent is this data? When we discuss 'transparency' in the context of credit data, it's not just about clear reports or scores. It delves deeper, probing the integrit...

21 September 2023 /regulation /retail Banking

Benchmarking Blind Spots: The Silent Expenses in Credit Data

The challenges of financial operations require you to consistently evolve, shift, and innovate to remain relevant. For many, this means delving into credit data benchmarking. But what happens when credit providers bypass this vital process, assuming it's secondary or even unnecessary? The expenses, both visible and hidden, can be huge. From payin...

19 September 2023 /regulation /retail Banking

Tackling the data deficit in BNPL

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

4 practical tips for overcoming data distress

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

Strategic data procurement: Drive efficiency in Financial Services

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

Emerging trends in financial services procurement

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

Is your current data bureau meeting your needs?

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

Choosing between single or multiple credit bureaus: How do lenders decide

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

End of contract or mid-term: When does data contract renegotiation make sense?

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

Ready to renegotiate your credit bureau contract ? Read this first

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