Comprehensive Credit Reporting has been actively supporting the New Zealand credit industry for more than four years. Officially introduced in New Zealand in April 2012, the initial uptake of CCR was slow, with early adoption coming mainly from second tier Financial Institutions and the Energy Services sector. However, today Comprehensive Reporting is now used across the Banking, Finance, Telecoms, Utility and Alternative Finance sectors with Dun & Bradstreet holding CCR data contributed by ten major service providers over all of these industries.
Having been ‘first to market’ with Comprehensive Credit Reporting, Dun & Bradstreet is the market leading provider in New Zealand, holding comprehensive information on close to 4.5 million credit active accounts. As a consequence, Dun & Bradstreet is able to provide a comprehensive credit report on circa 65% of New Zealand consumers requesting credit.
Although many internationally published papers have spoken to the benefits of Comprehensive Reporting from an economic and social perspective, no publication has yet focused on the benefits from a New Zealand perspective.
Given the maturity of comprehensive reporting in New Zealand, Dun & Bradstreet is now able to provide such insight in a local context. In this paper, we focus on New Zealand Comprehensive Reporting as an enabler to determining a consumer’s credit risk and illustrate how this data can be leveraged to increase the credit eligibility of consumers, as well as more responsibly manage credit by avoiding over commitment to debt.