Credit reference agency TransUnion has introduced Trended Affordability data to improve lending decisions and credit risk assessments in the UK.

Integrated within TransUnion’s Affordability Report, this new feature will enable users to more accurately anticipate consumers’ future affordability, thereby improving assessments and credit risk performance.

Trended Affordability expands upon the insights gained from TransUnion’s TrueVision product, offering a trended perspective on traditional credit risk attributes.

It incorporates new algorithms, attributes, and a specific score that assists clients in understanding the pattern of an individual customer’s affordability position over time.

By analysing a customer’s affordability over the past 12 months, lenders can make better predictions about future financial behaviour and stability of a customer.

TransUnion also said that this can further help in refining credit risk assessments and improving affordability evaluations.

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The updated Affordability Report incorporates trended and old credit and affordability data to generate new trended algorithms along with a Trended Affordability Score.

The forecasting of a consumer’s future affordability position also increases in accepted applications, while maintaining the same rate of bad debt.

TransUnion UK core credit director Clare Hollis said: “By providing more precise affordability predictions and improving subsequent credit risk performance, Trended Affordability adds significant value to client decisioning.

“With many of the new trended attributes outperforming existing affordability reporting, we can deliver more accurate assessments for our clients as well as enhance outcomes for consumers.”