Consumer credit analysis company Callcredit has commenced operations in Ireland following its acquisition by  TransUnion, which has offices in Cork.

Callcredit specialises in credit referencing, fraud and analytics, and database marketing solutions, and manages consumer data for businesses. It says that its online data solutions result in greater efficiencies for clients and fairer credit decisions for consumers.

The Irish platform combines data from several sources, including the Irish Credit Bureau and the new Central Credit Register, and the company says this is the first of its kind for lenders here. The data is presented in a single “decision-ready” format.

Chicago-based TransUnion acquired Callcredit for £1 billion in April 2018. Callcredit is the second largest credit reference agency in Britain, employing about 1,200 people. The company focuses  on developing products and services “to help businesses make smarter and informed decisions throughout the customer lifecycle”.

TransUnion provides consumer reports, risk scores, analytical services and “decision capabilities” which can be embedded into process workflows to acquire new customers, assess ability to pay, identify cross-selling opportunities, measure and manage debt risk, collect debt, verify consumer identities and investigate potential fraud.

In Association with

Consumers in turn view their credit profile and use analytical tools to understand and manage their personal information and take precautions against identity theft.

Callcredit commercial director Robert Cox (pictured) commented: “Our multi-bureau approach is central to the underwriting solutions of many leading banks and retailers in the UK, and we believe it can have a similar impact in Ireland’s evolving credit sector. This approach ensures lenders have greater insight and data resilience, allowing them to accept more customer credit applications and reduce the number of referrals.

“Following regulatory changes in Ireland, all lenders must inquire against the newly-created CCR, which began collecting data from lenders in June 2017. However, they may also choose to inquire against the longstanding ICB. Our multi-bureau referencing tool is the first to provide a combined view of data from both these sources.”