Future of the Credit Information Market

This report explores the future of the credit information market, focusing on factors like technology, consumer behavior, and regulation, and their impact on data sharing, lending decisions, and financial inclusion.

(Generated with the help of GPT-4)

The research method involved a structured, expert-led approach that included a comprehensive review of literature, stakeholder interviews, workshops, surveys, and scenario development using the Scenario Manager software. The process aimed to identify and prioritize key factors influencing the credit information market, develop coherent scenario narratives, and explore policy-relevant implications.

(Generated with the help of GPT-4)

The research conducted by RAND Europe, commissioned by the Financial Conduct Authority (FCA), investigates the potential evolution of the credit information market over the next five to ten years. It examines the roles of credit reference agencies (CRAs), lenders, and consumers within a changing landscape influenced by economic trends, technological advancements, regulatory frameworks, and shifting consumer attitudes towards data privacy and credit. The study identifies key factors that could shape the market's future, develops plausible scenarios, and assesses their implications for policy and decision-making. The scenarios consider the impact of increased data sharing, the use of artificial intelligence and machine learning, and the potential for greater financial inclusion or exclusion.

(Generated with the help of GPT-4)

Categories: 2030 time horizon | 2030s time horizon | English publication language | consumer behavior | consumer credit | credit reference agencies | data | data sharing | economic trends | european union geographic scope | finance | financial inclusion | financial technology | inequality | lending decisions | privacy | regulation | technology | united kingdom geographic scope