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Equifax A/NZ Joins Forces with Dun & Bradstreet
Equifax and Dun & Bradstreet, a leading global provider of business decisioning data and analytics, today announced a new strategic relationship in Australia and New Zealand.
Business credit demand moderates in September quarter
Tags: Business credit demand Business Loans Trade Credit Asset Finance business insights small business
Business credit demand stabilised, down -1.2% year on year in the September quarter of 2023, following a strong June quarter 2023 result. Overall demand has steadied, with solid demand growth in the Accomodation and Food Services sector, offset by some softness in the Construction sector.
Personal loans on the rise as overall consumer credit demand continues to stabilise
Despite uncertain market conditions consumer credit demand rose slightly in the September quarter of 2023, according to the latest Equifax Quarterly Consumer Credit Demand Index (September 2023). The September quarter saw further stabilisation of retail credit demand, with solid growth in July and August, tempering through September in the run up to the election. The growth in demand was largely driven by personal loans (up +16.7% vs the same period in 2022).
Positive signs of recovery as business credit demand grows
Business credit demand grew +6.3% year on year in the second quarter of 2023, the biggest increase in two years. This is a positive sign for NZ businesses and the economy as demand returns to pre-pandemic volumes. According to Equifax, asset finance (+13.2%) and business loans (+7.2%) were the largest contributors to the June quarter increase, with trade credit relatively soft (+1.1%) year on year. This is a strong turnaround from previous quarters.
Unsecured credit drives resurgence in consumer credit demand
Following seven consecutive quarters of decline, consumer credit demand increased +5.3% in the June quarter of 2023 vs the same period last year. Unsecured credit demand increased markedly, up +15.1% year-on-year for the June quarter, driven by ongoing growth in credit card demand (up +16.0% vs the same period in 2022), along with strong personal loan demand (up +14.5% vs the same period in 2022). Mortgage demand dipped slightly, -1.7% in the June 2023 quarter versus the same quarter 2022.
Business credit demand softens amid economic headwinds
Tags: Business credit demand Trade Credit Business Loans Asset Finance business insights small business
Business credit demand fell -6.6% year on year in the first quarter of 2023, with demand across all commercial credit types below pre-pandemic levels. Demand is now at its lowest level since the initial lockdown in H1 2020, with a greater than average seasonal dip and severe weather events contributing to the decline.
Consumer credit demand declines despite ongoing appetite for credit cards
The March Consumer Credit Demand Index shows consumer credit demand is at its lowest point since the first Covid lockdown in 2020, despite credit card resilience. Mortgage demand dropped by a fifth compared to the same quarter last year. The data indicates a dip in consumer sentiment as consumers are concerned about taking on new spending in an uncertain and increasingly expensive environment.
Business Credit Demand in Negative Territory During the Q4 2022 quarter
Overall business credit demand was down -1.7% year-on-year in the December 2022 quarter.
Home Demand Down, Credit Card Appetite Continues To Increase
The latest Quarterly Consumer Credit Demand Index for the quarter ending December 2022 shows a continuing stable trend in overall consumer enquiry volumes across 2022. However, demand remains below pre- and post-pandemic volumes, with a notable dip in home lending appetite for the last quarter of 2022.
Credit Card Appetite Drives Improved Retail Credit Demand
The latest Quarterly Consumer Credit Demand Index reveals an improving trend in overall consumer enquiry volumes for the quarter ending September 2022.
Business Credit Demand up 3% during the September 2022 quarter
Business credit demand has been relatively soft since the August 2021 lockdown, however commercial lending appetite has been steadily improving since the start of 2022 and is slowly nudging towards pre-pandemic levels.
Business Credit Demand down 12% during the June 2022 quarter, Business Loans below 2020 lockdown levels
Overall business credit demand is down year-on-year for the 4th consecutive quarter, and remains below pre-COVID volumes.
Consumer Credit Demand Decline Continues, with Credit Card Demand showing signs of recovery
Overall consumer enquiry volumes declined for the 4th quarter in a row, with a year-on-year reduction of 23.6% for the quarter ending June 2022.
Credit demand remains soft as consumer re-financing activity hits new lows
According to the latest Quarterly Consumer Credit Demand Index, overall consumer enquiry volumes declined for the 3rd quarter in a row, with a year-on-year reduction of 32% for the quarter ending March 2022.
Business Credit Demand down 9.2% during the March 2022 quarter
Business credit demand continued to be soft, declining for the third consecutive quarter, with a 9.2% reduction in overall business credit enquiries year-on-year for the March 2022 quarter.
Demand for consumer credit declines by more than 70% during lockdown
AUCKLAND, New Zealand, May 7th, 2020: Research released today by Equifax New Zealand shows that consumer credit demand fell by up to 71% during the C
Kiwis need to look beyond their credit score
AUCKLAND – November 22nd, 2019: Misconceptions around credit scores may be affecting the financial wellbeing of Kiwis according to the head
Equifax Announces Senior Leadership Changes
Tags: Business
AUSTRALIA/NEW ZEALAND, June 6, 2017 – Equifax Inc. (NYSE: EFX), a global information solutions company, today announced the realignment of some of its key senior leadership roles. The repositioning of its executive bench is in line with the Company’s strategy of empowering its management team to take on broader responsibilities that bring new insights to its business units and centers of excellence.
School students to become credit-smart as new financial literacy partnership launches
AUCKLAND, March 20, 2017 – Educating school students on the pros and cons of credit so they become more financially savvy is driving a new partnership which will be launched at Murray’s Bay Intermediate School in Auckland today.
Veda rebrands to become Equifax in Australia and New Zealand
AUCKLAND, NEW ZEALAND – 13 March 2017 – Veda has today completed its rebranding process to officially become the Australian and New Zealand division of Equifax, the global information solutions company, listed on the New York Stock Exchange, and the leading provider of credit information and analysis in Australia and New Zealand.
Strong housing market drives retail spending
Auckland, New Zealand, Wednesday, 4 May 2016: Activity in the New Zealand housing market remains strong, with mortgage applications up 11.6 per cent year-on-year in the March 2016 quarter according to Veda, the leading provider of data analytics and credit information in New Zealand and a wholly-owned subsidiary of Equifax.
New Zealand reaches Comprehensive Credit Reporting milestone
Auckland, New Zealand, Thursday, 31 March 2016: Tomorrow marks the four-year anniversary of Comprehensive Credit Reporting (CCR) being permitted in New Zealand. With the industry transition to CCR now well progressed and real benefits being realized, both credit providers and consumers have cause to celebrate.
Comprehensive Credit Reporting the key to responsible lending
Auckland, New Zealand: Tuesday 1 December, 2015 – Analysis by Veda, the leading provider of credit information and analytics in Australasia, has found that lenders participating in comprehensive credit reporting (CCR) are reporting an increase in approval rates of between 10-20 per cent for new-to-lender applicants.
216,000 Kiwis present real credit application fraud risk. Does New Zealand have a fraud problem?
Auckland New Zealand, Monday 2 February 2015: According to New Zealand’s largest credit bureau, Veda, 216,000 New Zealanders, over the age of 18, use more than one name to apply for credit and have an adverse credit history, potentially presenting a real credit and fraud risk to banks, finance companies, lenders and other credit providers such as telcos, and energy companies.
Veda first to launch Passport Verification Service
Auckland New Zealand: 10 November 2014 - New Zealand’s leading credit bureau, Veda, has extended its extensive suite of electronic identity verification products to include a real-time Passport Verification Service via the Department of Internal Affairs.
Veda dubs New Zealand’s Gen Y as Property Orphans
Auckland, New Zealand, Tuesday 23 September 2014: New data from Veda shows that Generation Y’s home ownership prospects appear to be rapidly declining in New Zealand.