PR - Teletrack Launches Non-Traditional Credit Scoring in UK

Teletrack UK Limited, a credit reference agency focused on consumers with limited credit profiles, today unveiled an underwriting risk management solution for non-traditional lending markets throughout the United Kingdom at the Consumer Credit Trade Association Annual Conference. 

In the United States, Teletrack UK’s affiliate company, Teletrack, Inc., is a market leading credit reference agency that has been providing consumer credit information and risk management tools and solutions to non-traditional lenders since 1989. Building on this experience, the Teletrack UK solution set offers access to a proprietary database built expressly for non-traditional lenders serving the UK market.

“We identified an unmet need for specialist and dedicated credit reporting and risk management services on consumers with inconsistent credit histories and unique financial needs, in particular those consumers who avail themselves of financial services from non-traditional lenders,” said Dale Williams, managing director of Teletrack UK. “Our experience in the United States as the largest consumer reporting agency serving the non-traditional credit markets coupled with our technical expertise has enabled us to develop a specialist solution to meet this need in the UK. Several lenders have completed integration with Teletrack UK, and we are rolling out a fast-track program to onboard additional early adopters.”

The Teletrack UK solution can also combine credit performance data received from credit grantors that manage risk in non-traditional financial sectors with information obtained from a traditional credit reference agency. This  enables Teletrack UK to enhance its service with traditional credit performance data and fraud prevention/anti-money laundering solutions.