Consumer Finance Rating Company

The Consumer Finance Rating Company (CFRC) was created to encourage responsible lending within the fast-growing payday loans industry, an area not covered by the larger credit reference agencies. The company’s main function is to act as an impartial intermediary for information sharing between financial businesses, whilst preserving the anonymity and security of the participants.

ParkerFox designed and implemented the technology to create the data sharing agency. We also helped introduce clients and guided them through the integration process. Based on the principle of reciprocity, the resulting system allows users to upload data search for data contained within the CFRC database. Clients are provided with secure areas for data upload and are given full control over user management within their organisation.

An interface for programmers is also available to allow for more streamlined integration of the credit scoring mechanism with a client’s bespoke systems, resulting in an efficient decision making process.