ID.VU uses data from high-cost, short-term loan applications and the Vulnerability Registration Service to identify financially stressed individuals.
Users can immediately identify customers who are at risk of harm by appending ID.VU flags to categorise vulnerability types.
The data can also be accessed in its raw format to allow organisations to create and improve their own vulnerability and affordability scores.
The solution allows businesses to identify and manage credit risk, prevent over-indebtedness, provide help to the customers most at risk of harm and meet their obligations to the regulators.
ID.VU identifies the customers on your database who are most at risk of harm using over 3.4m high-cost, short-term loan applications and 500k financially stressed people identified by the VRS.
ID.VU is built every day to allow real-time updates so you can spot the characteristics of vulnerability in time to help your customers.
Help the customers most in need of assistance and ensure that they do not suffer further harm. Meet your regulatory obligations and prove you are going above and beyond to prevent vulnerability worsening.
Research shows that many customers classed as vulnerable do not believe they are vulnerable or are afraid to ask for help. Reach out to these people most in need of help from your organisation.
Use the information from ID.VU to understand the credit and default risk to your organisation. Share information with Credit Risk Teams and Collections Teams to plan resource and influence strategy.
Learn about how our products could benefit you.
Get in touch and find out about our solutions for Identity Verification, Consumer Vulnerability & Debt Recovery.