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For more than five years, growth initiatives have been extremely difficult for UK lenders. In a weak, uncertain economy, even a modest amount of additional debt can push many consumers—even those with favourable credit profiles—into default. Today, when evaluating consumers for new loans or extensions of credit, lenders must measure repayment risk, and they must take another measure into account: How much credit is too much?
That’s why FICO and Equifax are helping UK lenders jump start growth with the combination of solid risk assessment of a consumer’s historical and current obligations—via Equifax’s Risk Navigator score—and a consumer’s capacity to manage additional obligations—via the new FICO® CreditCapacity Index™. The new index is a complementary risk measure that predicts capacity by inferring a consumer’s ability to manage incremental debt not yet represented on the credi