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On the subject of affordability Interviewer Chris Warburton noted that from a decisioning point of view, one of the problems that's arisen is that a substantial amount of decisioning and lending is made based on credit bureau data or historical performance data. This information has been changed fun- damentally by differing circumstances during the pandemic, for example, for those people that have had payment support holidays here in the UK. Mr Warburton said: 'some of the models and techniques we've used before

aren't necessarily going to be as appli- cable going forwards and lenders have to approach it in a new way.' Mr Wylie agreed, and said, 'the bench- mark for credit scores have clearly been recalibrated as a result of what's occurred but that is a work in progress.' 'We have seen a significant increase in demand for Open Banking data, which is a more timely supply of accurate information, and is more relevant and up-to-date than a credit file may be. It can effectively illustrate the current

affordability and potential creditworthi- ness of that customer. In conjunction with traditional credit data, that offers lenders a more accurate picture of what are rapidly changing circumstances for consumers in the pandemic.' You can watch David Wylie's full inter- view here, where he discusses with Chris Warburton the impact of the pan- demic and the evolution of lending deci- sioning technology.

Below: watch a clip from David Wylie's interview where he discusses the demand for lending post-pandemic

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