Many changes can occur throughout a customer’s credit lifecycle. Before you offer your existing customers a limit increase or up-sell them a new product, it makes sense to check whether their credit profile has changed and whether this customer remains credit-worthy.
Equifax’s batch HealthCheck service gives you visibility on the credit profile of each individual customer at any given point in time.
Proactive risk management supports responsible lending practices
HealthCheck screens a list of your existing customers against Equifax's credit bureau. This will provide an as at today summary of each individual’s credit profile, allowing you to check if anything has changed and make your next credit decision accordingly.
You can use this data to determine which of your customers qualify for additional lines of credit or new offers, or identify those most likely to default and hence proactively manage this group.
Benefits to your business
- Proactive portfolio management to manage/reduce losses
- Support ongoing credit decisioning with regular updates to an individual’s credit status
- Responsibly determine which customers are worthy of additional lines of credit and/or new offers
- Focus offers only on credit worthy customers
- Identify customers that may be having trouble meeting their repayments
- Monitor risk settings and provisioning at a portfolio level