The ongoing housing crisis remains a hot topic and one of the major concerns for many Australians. Figures from Equifax1 confirm a troubling trend: home ownership in Australia becomes a progressively distant aim for younger people.
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Strong personal loan growth constrained by decreased demand for BNPL, credit cards and auto loans. Consumer credit demand eased in Q4 2021, as factors including supply chain issues and a resurgence in COVID cases impacted consumer spending behaviour.
Business credit demand bounced back from Delta lockdowns in Q4 2021, with business loan applications driving a third straight quarter of growth. Despite the overall upward trend, however, the pace of growth has eased in recent months, and the spike in Omicron cases has cast a shadow on the prospect of continued commercial credit growth into Q1 2022.
Protecting sensitive employee data is a vital business concern, but some HR processes like employment income verification are crying out for a security upgrade.
Increasingly sophisticated cybercrime threats in Australia are encouraging organisations to evolve their security culture, reporting structures and level of preparedness, according to a new Red Paper released today by global data, analytics and technology company Equifax.
Overhauling manual systems and embracing digitisation is a key imperative for HR leaders, yet not all can afford the price tag that comes with digital enablement. Thankfully there’s a middle ground. A path that allows for innovation and growth while meeting budgetary constraints.
Australian-based global software company, Inspect Real Estate (IRE), could see a need to make the tenant application and screening process faster and easier for property professionals and property seekers.
Consumer credit demand continues its upward trajectory in Q3 2021, with early indications of further recovery in the coming months. Data from the first week of NSW reopening after 15-weeks in lockdown shows a jump in demand for auto loans (+33.0%), mortgages (+15.0%) and personal loans (+10.0%) compared to the previous week in lockdown.
The recovery in business credit demand eased in Q3 2021, but recovery may be imminent as states make their way out of lockdown. Data from the first four days of NSW reopening after 15-weeks in lockdown shows a jump in demand across all categories of credit. Asset finance enquiries rose by +25.1%, trade credit by +15.5% and business loans by +2.5% in the week of 11-14 October compared to the previous week in lockdown.
Equifax celebrates ten years with the release of the National Credit Managers Survey 2021 results
Every year from 2011 to 2021, Equifax has solicited the views of credit managers around Australia to gain insight into credit risk management practices, sentiments and trends. A decade of data provides a unique perspective of the past, the present, and the future of credit management in Australia. Here, we look at where the industry is heading and how it has transformed, including the impact of COVID-19.
