Press Releases

The Perfect Borrower: Renaissance Credit and Equifax credit bureau offer the clients a new service


29 July 2019

Renaissance Credit and Equifax Credit Services credit bureau offer the bank’s clients a new service called the Perfect Borrower. The service allows to verify one’s credit history as well as to obtain credit bureau’s recommendations on how to improve it.

In the framework of the Perfect Borrower service the client makes a request and receives a report consisting of three sections: borrower’s portrait, factors determining the scoring and advice on the financial prospects. The first section contains analysis of the current quality of the client’s credit history and his or her payment behaviour – number of issued loans, information on overdue payments ect., as well as the scoring which indicates probability of obtaining a new loan at the moment. The second section contains factors which influence the scoring and credit history. In cases with poor credit history (low scoring), the third section contains step-by-step recommendations from the credit bureau on how to improve it. Clients with a good credit history are offered recommendation on how to maintain the existing high scoring.

At the moment this service is available to borrowers applying for the bank’s loans at partner points of sales.

Comments by Svetlana Surina, Executive Director, Head of Department for Development of Retail Banking Products at Renaissance Credit: “Credit history – is the key source of information about borrowers. On the basis of information from the credit history the bank takes decisions regarding the credit products available to the client. Therefore it is important for the client to understand the state of his or her credit history. The new service allows the client to get acquainted with the information which describes his or her trustworthiness as a borrower in a simple and easy-to-understand way as well as to find out the probability of approval for the future loan applications and get advice regarding the financial behaviour which would help to maintain or improve the quality of the credit history.”

Comments by Oleg Lagutkin, General Director of Equifax credit bureau: “It is difficult to overestimate the importance of credit history in contemporary world, since its state may influence many social aspects of individual’s life. Therefore we are trying to create new solutions for easy and comfortable control over the one’s credit history. Our ultimate goal is a systemic increase in financial awareness among citizens, which - apart from purely informational - also comprises an educational component. In the unique Perfect Borrower service we familiarize the owner of the credit history with the mechanics behind calculations supporting the individual credit rating as well as financial instruments capable to influence the quality of credit history. We are proud we have established a long-term co-operation with Renaissance Credit and are glad to offer in the framework of our partner relations the services which has no rivals on the Russian market.”