Infact

A credit bureau's network effect isn't just about size – it's about impact. Each new participant should strengthen the system's ability to protect consumers while enabling responsible lending. Here's what we're seeing at Infact as our network of data grows:  - Increased financial inclusion as positive repayment behaviour is captured faster. This is particularly showing up where a legacy CRA scores the customer unfairly based on their actual situation.   - Better prevention of loan stacking and lending to customers in financial distress   - More accurate affordability assessments through timely data  - Faster fraud detection as suspicious patterns emerge across lenders The powerful thing about network effects in credit data? They create a virtuous cycle for end consumers. Every new lender joining our network strengthens these protective effects while gaining better insights for their own decisioning. This is why we believe the future of credit data must be real-time. It's not about faster decisions – it's about better ones. 

Launching a credit bureau is a monumental challenge - requiring both deep lender trust and a strategic approach to building data coverage from day one. Here's how we're building Infact, the UK's first real-time credit bureau, by solving the cold start problem through focus, immediate value exchange and innovation leadership in the credit information market. #creditrisk #fintech #startup #networkeffects https://lnkd.in/eUJ2fBDP

Anyone who knows me knows that financial inclusion is a big part of why I started Infact. I can't stress enough how pleased I am to be able to share this. Its been months of hard work from the teams on both sides Fair for You CIC, a UK lender doing some great work providing affordable credit to underserved communities, has transformed their lending operations with our Affordability Engine. - 16% increase in approval rates  - 48% reduction in refer rates  - 48% reduction in manual underwriting time  - 75% reduction in time spent maintaining affordability model   Faster decisions for customers who need it most ⌛ What makes this particularly meaningful is seeing how advanced affordability assessment technology can directly support responsible lending and financial inclusion. We're proud to be supporting their mission.  Ever grateful to James Wilkinson who highlights some of the impact of the work in this clip. Great to catch all the CDFIs at the Responsible Finance event last week. For more detail, we’ve written up the full case study here: https://lnkd.in/e_V69kSJ #affordability

Social lender Fair for You CIC needed more accurate affordability assessments to responsibly extend credit to a broader customer base while maintaining their risk appetite. With our Affordability Engine, they achieved a 16% increase in approval rates. Swipe the below for more results. Learn more about the impact of granular, explainable affordability assessments here: https://lnkd.in/eQ4DyC9U

We've been named in BusinessCloud's FinTech 50 for 2024 alongside some incredible innovators.   Our mission to improve the lives or customers and lenders through more accurate, real-time, and inclusive credit information is resonating.   Thanks to the judges Janine Hirt, Kimberley Waldron, Paddy Goodlet, Helene Panzarino and Jonathan Symcox. The full ranking here: https://lnkd.in/e3RhcqnR

It gives us great pleasure to announce that Fair for You CIC, a leading social lender, has chosen our Affordability Engine to enhance their lending decisions.  Fair For You is using our advanced affordability assessment technology to replace traditional ONS-based expenditure estimates, enabling them to extend credit more efficiently to qualified borrowers. And the results speak for themselves: 📈 16% increase in approval rates  ⚡ 48% reduction in refer rates  ⏱️ 48% fewer hours spent on manual underwriting  🔄 75% reduction in model maintenance time What's particularly exciting is that these improvements in operational efficiency haven't come at the cost of responsible lending practices – in fact, they've achieved these results while maintaining their strong risk management standards. We're proud to support Fair For You's mission of providing affordable credit to underserved communities through better affordability decisioning. Read more in the document below about how Fair For You is using Infact's Affordability Engine.

How can lenders increase approval rates and reduce refer rates?    Head of Lending at social lender Fair for You CIC, James Wilkinson, runs through some key results of implementing our Affordability Engine into their decisioning systems. ✅ 48% reduction in refer rates  ✅ 48% reduction in manual underwriting time   ✅ 75% reduction in time spent maintaining affordability model Learn more about how Fair For You is using the Infact Affordability Engine to materially improve lending performance: https://lnkd.in/eQ4DyC9U Including a 16% increase in approval rates.

What a great night! Fantastic to have won the Best Technology as an Enabler Award at yesterday's #11FSAwards. Our founders Will Mason and Andy Milligan here, feeling triumphant. A huge thank you to 11:FS for recognising our work in modernising credit information sharing through real-time data. Special thanks go to our incredible team (including Francis Rooney and Georgina Kennedy celebrating the win last night), partners, and early adopters who share our vision for the future of credit referencing. We're just getting started! #fintech #creditrisk #realtimedata

As usual 11:FS blew it out of the park at their awards last night. It was an honour to collect the "Best technology as an enabler" award on behalf of the team at Infact and hear the incredibly kind words from David Barton-Grimley. 🏆 Huge shout out to my co-founder Andy Milligan and his team who are the driving force behind the technical vision here. this means a lot to the us... particularly when we were up against the incredible teams from companies like Rollee An enormous thank you to the whole team, and everyone who has helped us get here from our early design customers, to our initial investors and beyond. 🙏 #11FSAwards #affordability #creditrisk

𝗧𝗵𝗲 𝗽𝗿𝗼𝗯𝗹𝗲𝗺𝘀 𝘄𝗶𝘁𝗵 𝘀𝗹𝗼𝘄 𝗰𝗿𝗲𝗱𝗶𝘁 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 Your credit profile should keep up with your life, but it doesn’t. It's the data that enables a financial life that works for you. You only have to go to Reddit or the comments sections on LinkedIn posts to get the continual feeling that something isn’t right. And for many of us, that can mean serious consequences. Mistakes you make shouldn't define your financial future for years to come. Yet, the current system makes credit building and rehabilitation a slow process, keeping people trapped in cycles of poor credit and subject to the financial premium that comes with it. Slow credit building disproportionately impacts young people, immigrants, lower-income customers, and those rebuilding after financial setbacks. A faster system opens doors to financial products and services for millions. Consumers desperately need a faster, more accurate credit profile to prevent them taking out loans they can't afford, building from thin file, or rehabilitating after a setback. 𝗕𝘂𝘁 𝘀𝗼 𝗱𝗼 𝗹𝗲𝗻𝗱𝗲𝗿𝘀. In a world where financial situations can change overnight, lenders are making crucial decisions based on outdated information.  This is the situation we are working to change at Infact.  We're not just talking about this problem – we're solving it. We're building a real-time credit bureau that reflects your current financial health, not your past mistakes. Empowering better lending with accurate, real-time credit information. Imagine a world where:  1) Your credit score updates in real time with every positive financial action.  2) Errors can be corrected swiftly, minimising their impact on your life.  3) Credit rehabilitation takes weeks or months, not years.  4) Lenders can make decisions based on your current situation, not outdated data. This isn't just about faster credit reports. It's about creating a fairer, more responsive financial system that works for everyone. It's about giving people the power to take control of their financial narratives in real-time. The future of credit is fast, accurate, and fair. And it's closer than you think.  #affordability #creditrisk #consumerduty