Single Customer View (June 2011)

Provided by Equifax

Single Customer View (SCV) is not a new concept for the UK lending industry; it’s been explored in various forms over the past few years. However, there is little doubt that it has now fully captured the attention of the UK retail banking sector. Changes to the Financial Services Compensation Scheme (FSCS), which came into force on 31st December 2010, certainly created an imperative to achieve SCV. But the commercial benefits, which are now being reaped by many retail financial services organisation, have justified its implementation.

This white paper aims to provide the backdrop to why SCV now plays an integral role in the UK financial services sector and the challenges being overcome to achieve this. There’s no question that the right systems are needed to deliver SCV, but it is the quality of the data that divides the winners from the also-rans.

Whatever sector of the consumer marketplace in which you work, and whether you work in operations; regulation and compliance; customer service or product development, this white paper should help you make the next decisions about implementing SCV in your organisation.

Equifax is a global leader in turning consumer credit data into powerful intelligence for customer management and risk decisioning. It has been working with customers to embrace this latest challenge, enabling them to achieve the regulatory requirements – and reap the financial rewards.

Contents

  • A challenging financial marketplace
  • SCV: a focus on compliance and profit
  • The unique role of Credit Reference Agencies
  • Creating a Single Customer View
  • Making it simple

 

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