CoreLogic Teletrack UK Ratified as Full Member of SCOR
Email Dan Smith
July 13, 2010, England –
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that Teletrack UK Limited, a subsidiary of CoreLogic, Inc., has been ratified as a full-member of the Steering Committee on Reciprocity (SCOR).
SCOR is a cross industry forum made up of representatives from credit industry trade associations and credit reference agencies. It is responsible for the administration and development of the data sharing rules known as the Principles of Reciprocity.
“Teletrack UK set out three years ago to be the leading specialist credit reference agency (CRA) serving the UK Payday Lending and other non-traditional credit markets,” said Dale Williams, Managing Director of Teletrack UK. “Since that time, we have grown to be recognized as the leading CRA and solution provider in these markets as evidenced by the rapid growth of our company, our customer base and our data assets.”
Over the last three years Teletrack UK has served as an observer member, providing a unique perspective and expertise in the areas of payday lending and other non-traditional credit. In addition to establishing a track record of contributing to the affairs of SCOR, Teletrack UK satisfied the formal acceptance criteria for full membership for a CRA which includes significant minimum thresholds for the volume and integrity of data assets, size of contributing customer base, regulatory and data sharing compliance standards, and information security and audit standards.
SCOR was established by the UK credit industry as a self-regulating user group to develop and oversee documented guidelines to address issues surrounding the use and sharing of credit performance and related data on individual consumers in the UK. SCOR operates on behalf of the trade associations that it represents and makes recommendations on matters concerning the Principles of Reciprocity to those associations.
“We consider SCOR membership as well as the core values and benefits of the Principles of Reciprocity fundamental to the integrity and success of our business. We are delighted our efforts and achievements have now been recognized by SCOR,” said Williams. “We are committed to providing ongoing input to SCOR through its working parties where our expertise in specialist markets adds value and to helping our clients run profitable and responsible lending businesses.”
Trade associations represented at SCOR are the British Bankers’ Association (BBA), British Retail Consortium (BRC), Consumer Credit Association UK (CCA), Consumer Credit Trade Association (CCTA), Council of Mortgage Lenders (CML), Credit Services Association (CSA), Finance & Leasing Association (FLA) and The UK Cards Association. CRA members now include Experian, Equifax, CallCredit and CoreLogic Teletrack UK.
To learn more about SCOR, visit their website at www.scoronline.co.uk. To learn more about CoreLogic Teletrack UK Ltd, visit their website at www.teletrack.co.uk.
About CoreLogic Teletrack UK Limited
CoreLogic Teletrack UK was formed in 2007 to deliver risk management tools and solutions to the non-traditional lending markets in the UK. As a credit reference agency, Teletrack UK creates fast, reliable and cost effective access to proprietary consumer credit data. As a multi-national provider of credit referencing services in non-traditional markets, Teletrack UK offers an unparalleled suite of credit risk and fraud prevention solutions, and also acts as a full service data provider, enabling single-point access to additional third party external databases. Teletrack delivers real-time transaction processing to support the risk assessment needs of payday loan providers, instalment lenders, mail order companies and other consumer finance businesses serving consumers with less than perfect credit histories in-person and online. In addition, Teletrack offers integrated access to additional summary credit performance data, fraud prevention, and scoring solutions from the broader credit market. Our uniquely efficient single interface enables lenders to combine our data with market leading traditional credit reporting, fraud prevention and consumer authentication services. For more information visit www.teletrack.co.uk
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com