Alex delivers Comprehensive Credit Reporting with Equifax in record time

Alex, whose mission is to make banking simpler and fairer for Australians, has partnered with leading credit information provider, Equifax, to provide Comprehensive Credit Reporting (CCR), giving deeper insights on borrower’s credit worthiness. The partnership gives Alex access to more comprehensive data sets on its potential customers financial background, enabling the digital lender to better assess a borrower’s true credit position and ability to pay a loan.

Chief Financial Officer of Alex, Craig Fenwick commented, “CCR is incredibly important for both borrowers and lenders as it gives greater visibility of a customer’s financial position meaning we can lend responsibly. As a new lender dedicated to making things simpler, the additional data available as part of CCR is enhancing our credit decisioning framework and also allows Alex to reward borrowers with good credit risk.”

Equifax Executive General Manager Moses Samaha added, “Equifax and Alex were able to work well together to provide CCR in record time with the assistance of our SmartData solution. Alex was able to satisfy its data supply requirements and setting themselves up for consumption within a month, which is an incredible achievement.”

Alex’s inaugural consumer lending product has been winning fans thanks to their fast, simple and human approach to lending. Alex has applied for a Restricted Authorised Deposit-Taking Institution (RADI) license from the Australian Prudential Regulation Authority (APRA).

Alex was also named as a finalist in comparison site Finder’s 2020 Awards in the Best Risk-Based Personal Loan category, announced last month.