Credit reference agency (CRA, credit bureau)
A credit reference agency (CRA) collects data on how people and businesses borrow and repay, and provides it to lenders as credit reports and scores. The three main UK CRAs are Experian, Equifax and TransUnion. Lenders use CRA data to help assess credit risk.
CRA data includes credit accounts, repayment history, defaults, county court judgments and the electoral roll. It supports identity checks and scoring, but it is backward-looking and says little about current affordability.
Lenders increasingly combine CRA data with Open Banking to see both history and current financial behaviour.
Credit Canary builds credit reference agency into one platform for UK lenders, with the data and decisioning behind it.
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