Callcredit
Encyclopedia
Callcredit Limited is a credit reference agency. Credit reference agencies collect and store details about consumers and their personal credit history. There are five credit reference agencies in the UK; Callcredit, Dun & Bradstreet
, Equifax
, Experian
and National Hunter
.
Callcredit was created by Skipton Building Society
and supplies information to lenders and other organisations to enable them to establish an individual's credit history, confirm application addresses and monitor significant events which may be indicators of credit risk. In 2009, Skipton sold its interest in the company to Vitruvian Partners
, a UK-based private equity
firm.
Callcredit's areas of expertise are Credit Risk, ID Verification/Fraud & Anti-money laundering, Collections & Recoveries and Credit Marketing.
The company's client base includes legal firms, banks, building societies, finance houses, mail order, telecoms and utility companies. These typically use Callcredit’s services to support applications for consumer credit, however shared financial data from consumers' credit accounts is used to underpin a variety of services including Fraud and Identification products, debtor tracing and over-indebtedness tracking.
In 2002 Callcredit launched its “SHARE” database of consumer credit account information. Created by monthly contributions from a closed user group of lenders, SHARE includes records from banks, building societies, and telecom companies.
In 2003 Callcredit introduced a range of products for credit risk, Anti-Money Laundering and marketing.
In 2004 the Skipton Information Group (SIG) was formed, bringing Callcredit together with EuroDirect and GMAP.
In 2005 Callcredit launched MyCallcredit, its online credit file monitoring and identity theft alert service for consumers. Also during the year Callcredit introduced a new range of debt management tools, credit monitoring and tracing solutions to aid responsible lending.
In 2006 Callcredit launched its consumer indebtedness initiative in association with the UK’s leading high street banks: HBOS, HSBC, Lloyds TSB, Barclays and RBS. The initiative uses income data along with consolidated debt data to give an understanding of customer indebtedness and ability to pay. Throughout 2007, Callcredit further developed its Over-Indebtedness Initiative (OII) and continued to roll it out across the major UK banks, building societies and credit card companies. It has also created the Callcredit Consultancy team, which supplies expertise throughout the customer lifecycle, from customer acquisition to collection and recoveries.
In 2007, Skipton Information Group acquired two additional businesses which directly complement Callcredit’s activities. Legatio build complex online systems that present data for government, blue chip and SME's. Legatio have also developed an online fraud detection service called CallValidate that verifes a bank accounts or credit / debit cards owners name and address. Legatio was started by Entrepreneurs Grant Johnston and Dave Barter in 2002 with a PDF based tax return service for individuals and agents (ftax.co.uk). The second acquisition in 2007 was Decision Metrics, who undertake advanced analytical projects for the credit risk market, covering credit scoring, affordability assessment, Basel II modelling and ongoing performance monitoring.
In January 2008, Skipton Information Group announced its third acquisition in six months. Broadsystem are specialists in both database and marketing services, with additional skills in communications management.
and Experian
gain information about consumers’ credit records from various sources including banks, building societies and lenders that have granted the consumer credit.
This information is used to generate a personal credit report. All three credit reference agencies allow consumers to access their credit report. This can be done in one of two ways.
Under the Data Protection Act of 1998, Callcredit, Equifax
and Experian
are required by law to offer a statutory credit file, which is sent out in the post and takes around seven working days. All three credit reference agencies however also offer an online credit report online which can be accessed instantly.
staff supported by a field sales team who maintain face-to-face contact with clients nationwide at seminars and conferences. The team specialise in promoting Callcredit’s anti-money laundering product CallML , as well as advising, where necessary, on Callcredit’s complete product portfolio. Direct’s current subscribers mainly operate within the legal and accountancy sectors however the business’s client base covers most industries with a financial bias and a need to comply with the Proceeds of Crime Act 2002
.
In 2009, Callcredit Direct won 'Best of Breed System of the Year' for CallML at the Legal Technology Awards.
In 2007 Callcredit Direct won online system of the year at the legal technology awards.
Dun & Bradstreet
Dun & Bradstreet is a Fortune 500 public company headquartered in Short Hills, New Jersey, USA that provides information on businesses and corporations for use in credit decisions, B2B marketing and supply chain management...
, Equifax
Equifax
Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit agencies along with Experian and TransUnion. Founded in 1899, Equifax is the oldest of the three agencies and gathers and maintains information on over 400 million credit...
, Experian
Experian
Experian plc, formerly known as CCN Systems, is a global credit information group with operations in 36 countries. The company employs 15,500 people with corporate headquarters in Dublin, Ireland and operational headquarters in Nottingham, England and Costa Mesa, California, US...
and National Hunter
National Hunter
National Hunter is a British credit fraud checking agency that operates an "anti-fraud data sharing system", operated by Experian Data Analytics, on behalf of its members, around 90 British financial institutions, including banks, building societies, mortgage lenders and finance companies...
.
Callcredit was created by Skipton Building Society
Skipton Building Society
The Skipton Building Society is a building society in the United Kingdom . It is a member of the Building Societies Association....
and supplies information to lenders and other organisations to enable them to establish an individual's credit history, confirm application addresses and monitor significant events which may be indicators of credit risk. In 2009, Skipton sold its interest in the company to Vitruvian Partners
Vitruvian Partners
Vitruvian Partners is a European private equity firm focusing on leveraged buyout and growth capital investments in middle-market companies.Vitruvian invests throughout the UK, Ireland, Germany, Austria, Switzerland, the Nordic region and Benelux...
, a UK-based private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm.
Callcredit's areas of expertise are Credit Risk, ID Verification/Fraud & Anti-money laundering, Collections & Recoveries and Credit Marketing.
The company's client base includes legal firms, banks, building societies, finance houses, mail order, telecoms and utility companies. These typically use Callcredit’s services to support applications for consumer credit, however shared financial data from consumers' credit accounts is used to underpin a variety of services including Fraud and Identification products, debtor tracing and over-indebtedness tracking.
History
2001 saw the launch of Callcredit's first credit referencing service, “CallReport”, an online service that allows subscribers to check the identity and creditworthiness of potential customers.In 2002 Callcredit launched its “SHARE” database of consumer credit account information. Created by monthly contributions from a closed user group of lenders, SHARE includes records from banks, building societies, and telecom companies.
In 2003 Callcredit introduced a range of products for credit risk, Anti-Money Laundering and marketing.
In 2004 the Skipton Information Group (SIG) was formed, bringing Callcredit together with EuroDirect and GMAP.
In 2005 Callcredit launched MyCallcredit, its online credit file monitoring and identity theft alert service for consumers. Also during the year Callcredit introduced a new range of debt management tools, credit monitoring and tracing solutions to aid responsible lending.
In 2006 Callcredit launched its consumer indebtedness initiative in association with the UK’s leading high street banks: HBOS, HSBC, Lloyds TSB, Barclays and RBS. The initiative uses income data along with consolidated debt data to give an understanding of customer indebtedness and ability to pay. Throughout 2007, Callcredit further developed its Over-Indebtedness Initiative (OII) and continued to roll it out across the major UK banks, building societies and credit card companies. It has also created the Callcredit Consultancy team, which supplies expertise throughout the customer lifecycle, from customer acquisition to collection and recoveries.
In 2007, Skipton Information Group acquired two additional businesses which directly complement Callcredit’s activities. Legatio build complex online systems that present data for government, blue chip and SME's. Legatio have also developed an online fraud detection service called CallValidate that verifes a bank accounts or credit / debit cards owners name and address. Legatio was started by Entrepreneurs Grant Johnston and Dave Barter in 2002 with a PDF based tax return service for individuals and agents (ftax.co.uk). The second acquisition in 2007 was Decision Metrics, who undertake advanced analytical projects for the credit risk market, covering credit scoring, affordability assessment, Basel II modelling and ongoing performance monitoring.
In January 2008, Skipton Information Group announced its third acquisition in six months. Broadsystem are specialists in both database and marketing services, with additional skills in communications management.
CIG 2008 Rebrand
In May 2008 the Skipton Information Group rebranded to the Callcredit Information Group (CIG). By consolidating Callcredit, EuroDirect, GMAP Consulting, Legatio, Decision Metrics and Broadsystem, a stronger platform has been created which satisfies the increasingly sophisticated information needs of its international client base right across the customer lifecycle.Callcredit Check
Callcredit Check is the consumer arm of Callcredit, providing consumers with personal credit reports. Callcredit, EquifaxEquifax
Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit agencies along with Experian and TransUnion. Founded in 1899, Equifax is the oldest of the three agencies and gathers and maintains information on over 400 million credit...
and Experian
Experian
Experian plc, formerly known as CCN Systems, is a global credit information group with operations in 36 countries. The company employs 15,500 people with corporate headquarters in Dublin, Ireland and operational headquarters in Nottingham, England and Costa Mesa, California, US...
gain information about consumers’ credit records from various sources including banks, building societies and lenders that have granted the consumer credit.
This information is used to generate a personal credit report. All three credit reference agencies allow consumers to access their credit report. This can be done in one of two ways.
Under the Data Protection Act of 1998, Callcredit, Equifax
Equifax
Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit agencies along with Experian and TransUnion. Founded in 1899, Equifax is the oldest of the three agencies and gathers and maintains information on over 400 million credit...
and Experian
Experian
Experian plc, formerly known as CCN Systems, is a global credit information group with operations in 36 countries. The company employs 15,500 people with corporate headquarters in Dublin, Ireland and operational headquarters in Nottingham, England and Costa Mesa, California, US...
are required by law to offer a statutory credit file, which is sent out in the post and takes around seven working days. All three credit reference agencies however also offer an online credit report online which can be accessed instantly.
Callcredit Direct
Callcredit Direct was established in 2004 to serve small to medium enterprises and has expanded from a team of four to employ over thirty staff . The Direct division is mainly made up of telemarketingTelemarketing
Telemarketing is a method of direct marketing in which a salesperson solicits prospective customers to buy products or services, either over the phone or through a subsequent face to face or Web conferencing appointment scheduled during the call.Telemarketing can also include recorded sales pitches...
staff supported by a field sales team who maintain face-to-face contact with clients nationwide at seminars and conferences. The team specialise in promoting Callcredit’s anti-money laundering product CallML , as well as advising, where necessary, on Callcredit’s complete product portfolio. Direct’s current subscribers mainly operate within the legal and accountancy sectors however the business’s client base covers most industries with a financial bias and a need to comply with the Proceeds of Crime Act 2002
Proceeds of Crime Act 2002
The Proceeds of Crime Act 2002 is an Act of the Parliament of the United Kingdom which provides for the confiscation or civil recovery of the proceeds from crime and contains the principal money laundering legislation in the UK.-Background:...
.
In 2009, Callcredit Direct won 'Best of Breed System of the Year' for CallML at the Legal Technology Awards.
External links
In 2007 Callcredit Direct won online system of the year at the legal technology awards.