Dun & Bradstreet launches UK tool for small business credit

Dun & Bradstreet has introduced its D&B Unified Risk View in the UK to assist financial services organisations and trade credit providers in making informed credit risk decisions for the country's 5.5 million small businesses.

The new tool combines business data with consumer data from TransUnion UK, providing a comprehensive perspective on a loan applicant's risk profile.

This integration aims to offer more favourable options for applicants while enabling Credit Risk teams to assess potential risks and mitigate bad debts effectively.

This launch allows financial services and trade credit providers to widen their customer bases with added confidence by evaluating existing credit risks. Additionally, it helps in identifying potential growth opportunities among customers, and in developing better customer management strategies that reflect changing behaviours and circumstances, all the while managing risks efficiently.

David Marshall, Senior Director of Finance Solutions at Dun & Bradstreet, emphasised the importance of supporting small businesses. "The success of small businesses, sole traders and micro enterprises is essential to the country's growth and overall resilience. But for too long, lenders, as well as those extending a line of trade credit, have struggled to assess their risk effectively by using business data alone," he said.

Marshall continued, "Dun & Bradstreet is committed to empowering lenders and credit providers with data solutions that help them make smarter and quicker credit risk decisions."

"D&B Unified Risk View enables credit providers to navigate risk effortlessly. By leveraging these comprehensive insights, lenders can optimise lending decisions, and drive profitability while ensuring robust data security."

Sam Welch, Chief Revenue Officer at TransUnion UK, expressed enthusiasm about the collaboration. "We're excited to partner with Dun & Bradstreet to help enable better decision making. At TransUnion, information for good is at the heart of what we do and by combining both consumer and business data we can help enable the best possible outcome for both consumers and lenders. Access to accurate data is crucial to ensuring that businesses are able to access the credit that they need, in an affordable and responsible way," Welch stated.

D&B Unified Risk View also supports maintaining high security and GDPR-compliant standards when accessing non-customer consumer data, an increasingly vital capability as data protection regulations evolve.