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

The importance of high-quality data for risk decisions

In today's financial landscape, fintechs, banks and other lenders need to make sound credit decisions in order to stay afloat. And one of the most important factors in making accurate credit decisions is having high-quality data. But if your data is incomplete, outdated, or not compliant, you won’t be able to use it to make the right risk decisions...

20 April 2023 /regulation /retail Financial Services Regulation

5 lessons from hundreds of data benchmarking exercises

When it comes to reducing data bureau pricing, what matters most isn’t what you paid last year, but how you can get the best price for the highest quality data and scores. We have worked with hundreds of organisations across a huge swath of the credit industry, helping them do just that. Over time, we’ve learned to recognise a number of important l...

18 April 2023 /regulation /retail Banking

3 Emerging Data Challenges in Credit Management (According to McKinsey)

In recent years, financial institutions have increased their adoption of data and new technologies to manage credit portfolios. In fact, McKinsey’s recent survey of financial institutions says there is significant progress in using new data and techniques for credit portfolio management. But it also shines a spotlight on the challenges that remai...

23 March 2023 /regulation /retail Financial Risk Management

The FCAs data priorities through to 2025 (the 4 most important)

Keeping up with regulations is one of the toughest challenges facing the financial service sector. That’s why the FCA is prioritising data and innovation as a key feature of its Business Plan 2022/23, accompanied by its three-year strategy 2022-2025. Emerging themes include data quality, CRA transparency, Big Tech, and data for BNPL firms. If you...

21 March 2023 /regulation /retail Financial Services Regulation

What waterfall of data and Bureaux should fintechs use?

Using the right credit bureau has never been more important. Aside from the usual need for the best priced credit data – to keep profit margins lean and ensure credit providers can compete – the best quality data has always been important. However, this has been somewhat overlooked because an assumed trust has always been in place. But right now, ...

21 February 2023 /regulation /retail Fintech

Have It All: How are Banking and Finance Unlocking Multi-Bureau Data Strategies?

For Banking and Finance, adopting a multi-bureau credit data strategy is often dismissed as “too hard to switch”, “too expensive” or “not important enough”, but this is set to change. The FCA recently set out its interim findings from the credit information market study. The study found one of the key aspects of the market not working well is “sign...

24 January 2023 /regulation /retail Financial Services Regulation

Fintech hot topic: A review of the EU consumer credit directive and impact on BNPL

Today, consumers can easily apply for credit online through innovative credit solutions like buy now pay later (BNPL). But consumers need to know what they are signing up for and how much they eventually have to repay. This is what’s sparked regulatory reviews. To bring more clarity to consumer credit, the Council and European Parliament have re...

16 December 2022 /regulation /retail Fintech

What does the FCA credit information interim report mean for fintechs?

The FCA wants to see a higher quality of credit information and is taking steps to improve the sector. In light of this, the FCA recently published the long-awaited interim findings from its credit information market study. But is the report addressing the key challenges originally identified? What’s fallen through the cracks so far? And is the fu...

13 December 2022 /regulation /retail Fintech

How fintechs can regain control of bureau costs during economic uncertainty

Like all other businesses, fintechs are entering the planning and budgeting season at a time of high economic uncertainty. The difference is, all credit providers are being relied on to support consumers and the economy. So, whilst cutting back on certain costs – such as operations – is not an option, there is one quick win fintechs can take adva

23 November 2022 /regulation /retail Financial Supply Chain

How consumers are likely to fund Christmas amongst cost of living crisis (hint: BNPL

According to the Bank of England, consumer credit is at its highest rate since March 2019. With the cost of living crisis and now the run-up to Christmas, we're expecting to see more consumers look to credit. But in particular, alternative finance and fintech BNPL providers. In this blog, we’ll look at how we expect consumers to weigh-up credit op...

22 November 2022 /regulation /retail BNPL