Latest opinions that Nick Green has shared on Finextra

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Nick Green

Director

Purple Patch Broking Ltd

Member since

07 Dec 2020

Location

Stratford-Upon-Avon

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Nick's opinions

The future of credit data: Will AI reduce bureau dependency?

Lenders have traditionally turned to credit bureau data to assess affordability and risk—but that reliance is starting to change. AI-powered models are now delivering real-time, predictive insights that offer far more than static bureau scores. And with alternative data sources gaining traction, credit providers are under pressure to reassess how ...

10 April 2025 /retail /crime Banking

How overpaying for credit data impacts your entire credit lifecycle

Most lenders think of credit bureau costs as a procurement issue, something to review at renewal. But in reality, overpaying for credit data has a knock-on effect across the entire credit lifecycle. It drives up the cost of every loan application, slows down approvals, and limits the flexibility to make competitive lending decisions. In collecti

11 March 2025 /regulation /retail Banking

How to avoid the 20% plus credit bureau price hikes in 2025

You’ve seen the headlines: credit reporting costs are climbing, and lenders are footing the bill. But let’s break down what’s actually driving these increases: 20%+ rise in credit bureau data costs It’s not just FICO. Credit bureaux themselves are adjusting their pricing models, and some mortgage lenders expect a minimum 20% increase in credit

11 February 2025 /retail /inclusion Banking and Lending Solutions

When's the best time to renegotiate your credit bureau contract?

When is the best time to renegotiate a credit bureau contract? With costs, data quality, and your organisation's changing needs on the line, the timing of renegotiation can make all the difference in maximising contract value and ensuring your contract stays aligned with your business goals. Acting too late can leave you stuck overpaying or ope

12 December 2024 /regulation /retail Banking

Credit data trends: what to look out for in 2025

You'd think the credit data market would be fairly predictable by now. But if there's one thing we've learned from working in credit risk for the last 30 years, change is constant. While some organisations are paying up to five times more than their competitors, others have managed to secure much better deals. The difference often co

10 December 2024 /regulation /retail Banking and Lending Solutions

How the FCA's new BNPL regulations demand better bureau data for credit risk

The Financial Conduct Authority's (FCA) new regulations of Buy Now, Pay Later (BNPL) mark a significant shift in the industry. With nearly half of UK adults now using BNPL services, these rules introduce crucial requirements: mandatory affordability checks and clearer loan disclosures. While these measures protect consumers from mounting debt, th

21 November 2024 /regulation /retail BNPL

Strengthening digital banks against fraud: Best practices for the industry

Digital banks have levelled up finance with their unmatched speed and convenience, but this agility also makes them prime targets for fraudsters. Authorised push payment (APP) fraud is on the rise, with losses hitting £580 million in the first half of 2023, according to UK Finance. The very features that make digital banking appealing—fast, onlin

19 November 2024 /retail /crime Banking

Maximising AI risk model performance with multi-bureau data

Many financial institutions shy away from multi-bureau strategies, fearing complexity and cost. What if we told you that not only is a multi-bureau approach achievable, but it can also significantly enhance your AI model performance while potentially reducing costs? In this post, we'll show you how to maximise your AI's potential with multi-bur

26 September 2024 /ai /retail Banking and Lending Solutions

The importance of quality data in AI risk modelling: How data benchmarking can help

Just because your firm can use your existing data for AI risk modelling doesn’t mean you should. There’s a perception that AI can create accurate predictions based on any data set. That’s not always the case. AI models are only as good as the data they're fed. Quality data is key to effective AI risk modelling. Without it, even the most sophistic

24 September 2024 /ai /retail Banking

Citi's $136M fine: A stark reminder of data's critical role in risk management

Imagine losing $136 million in a single day. That's the harsh reality Citi faced recently, courtesy of US regulators. Why? A key reason was due to poor data and risk management. This eye-watering fine isn't just a Citi problem. It's a wake-up call for the entire financial services industry. This hefty penalty stems from Citi's failure to address lo...

22 August 2024 /regulation /retail Banking

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