The FCA data comprise loan-level records for applications to U.K. payday loan providers

The FCA data comprise loan-level records for applications to U.K. payday loan providers

Data from payday loan providers

For thirty-seven lenders running within the cash advance market, whom together constitute 99% associated with the total market by loan amount, the information includes documents of effective loan requests and loan performance (including info on standard and belated repayments). Within these loan providers, extra information had been collected for eleven big loan providers whom together constitute more or less 90% associated with market by loan volume. Information includes information on unsuccessful applications and also the credit rating value assigned every single application. The info set also incorporates details about company credit choice procedures, including other testing procedures such as for example fraudulence assessment.

Using the loan-level information supplied by lenders, the FCA commissioned a U.K. credit bureau to utilize its proprietary matching technology to determine unique people.Continue reading