Australian consumer credit bureau Dun & Bradstreet and peer-to-peer lender RateSetter are pleased to announce that they have partnered together for the provision of comprehensive credit reporting data. This is an important industry milestone as RateSetter is the first peer-to-peer lender in the fast-emerging alternative lending & financial technology (“Fintech”) sector to load and consume Dun & Bradstreet’s comprehensive credit reporting data.
According to Steven Brown, Director of Consumer Risk Solutions at Dun & Bradstreet, the partnership reinforces the acceptance of the domestic comprehensive credit reporting system and the benefits to be derived by emerging credit providers.
“RateSetter has acknowledged the richer insight into consumer risk behaviour that our comprehensive credit reporting provides, and through this partnership it is optimising its credit offering in a quickly-emerging alternative lending market,” Brown commented. “Consumers will be rewarded for good credit behaviour through easier access to credit and better rates with RateSetter. This will apply pressure to other credit providers to innovate and to drive competition in the lending sector, which is great for consumers.”
RateSetter Australia CEO, Daniel Foggo, says that Australian consumers deserve better options than those provided by traditional lenders.
“Through our international experience we see comprehensive credit reporting as a game-changer for Australian consumers, helping to boost competition between lenders and driving innovation to deliver a better deal”, said Foggo.
“RateSetter is leading the way through this partnership with Dun & Bradstreet and Australian consumers are the big winners.”