The FCA data comprise loan-level records for applications to U.K. payday loan providers, including first-time and perform applications
The data 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 loan providers, extra information ended up being collected for eleven big loan providers whom together constitute roughly 90% regarding the market by loan amount. Information includes details of unsuccessful applications while the credit rating value assigned every single application. The information set also incorporates details about company credit choice procedures, including other assessment procedures such as for instance fraudulence testing.
Using the loan-level information supplied by loan providers, the FCA commissioned a U.K. credit bureau to make use of its proprietary matching technology to recognize unique people. The credit bureau matched determining information that is personal (name, target, date of delivery) from company documents to customer documents inside their database, and when performing this additionally matched consumers for their credit files and offered these into the FCA. The ensuing data set is a consumer-level information set including almost all consumer loans together with the greater part of customer loan requests and credit that is complete. The info set comprises around 4.6 million specific consumers who sent applications for at minimum one cash advance (around 10% for the U.K. Continue reading “Information from payday loan providers. Credit history information”