Just in case you have missed it BIIA is publishing a series of articles on credit information: Part one was published recently in the BIIA News Section on www.biia.com and served as a precursor of the development of the consumer and commercial credit information industry from the late 1980’s up until the present day. It also looked forward to some of the challenges faced by the industry post the credit crunch in 2008, the subsequent recession and continued economic uncertainty.
Part 2 covers the current state of play of Experian, Equifax and TransUnion and an assessment where the battle will be fought in the future. To read the full story click on this link or go to https://2018.biia.com/category/biia-news
“Prior to the credit crunch, there was a perception that Credit Bureaus were businesses that were not significantly affected by economic downturns. This was largely based on the fact that they had continued to grow through recessions in the late 1980s and mid-1990s. What the credit crunch exposed is that Credit Bureaus are extremely sensitive to the level of credit supply and demand.”
Background: BIIA has asked Phil Cotter, an expert in the consumer and commercial credit information industry and BIIA’s newest contributing staff writer, to express his views about the shape of the credit information industry post financial crisis and how the major players intend to grow their business.