24 July 2016
Find out more

Think Finance selects Equifax tech for application assessment help

10 March 2014  |  2144 views  |  0 Source: Equifax

A leading financial technology and analytics company, Think Finance, is working with leading consumer indebtedness and fraud expert, Equifax, to optimise its application assessment process.

Think Finance's UK consumer lending product, Sunny, is a loan product introduced in August 2013 that bridges the gap between payday and mainstream financing for non-traditional borrowers. Sunny offers customers a new way to borrow up to £1000 with flexible payment schedules, a no fee guarantee and rates that drop over time with good payment history. As part of a multi-bureau strategy for this launch, Equifax is providing predictive credit characteristics which are crucial in assessing an individual's credit-worthiness and ability to afford the loan.

Think Finance has developed an innovative approach to the assessment of on-line credit applications driven by the most powerful combination of bureaux data sources available. Following extensive analysis, Think Finance identified that Equifax data delivered significant performance enhancements in the assessment of an individual's capacity to afford and manage additional short term credit. As such, the insights Equifax provides are integral to the company's best practice approach to responsible lending.

"Equifax took the time to fully understand our business and the unique nature of the Sunny Loans product" explains Jason Bumgarner of Think Finance. "Their knowledge of the short term lending sector combined with the power of Equifax data delivers real value to Think Finance."

Craig Tebbutt, Head of Alternative Lending at Equifax added; "This new three year agreement with Think Finance reflects Equifax's continued commitment to the short term lending sector. We are excited to work with Think Finance which continues to demonstrate real innovation in the marketplace." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
8327 views 14 comments | 32 tweets | 37 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7989 views 3 | 19 tweets | 7 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7943 views 0 | 14 tweets | 8 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
7933 views comments | 6 tweets | 3 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7655 views comments | 22 tweets | 28 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job