The endeavor to build or renovate a home in Australia stands as a significant investment, both financially and emotionally. In a sector characterised by innovation alongside inherent complexities, the selection of a reputable and reliable builder is paramount. A misstep in this critical decision can precipitate costly delays, substandard workmanship, and considerable stress.
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Cost-of-living pressures have negatively impacted the financial ambitions of Australians, with 2 in 5 more stressed about their financial situation
As our industry works to improve confidence in construction, partnering with the right professionals is more critical than ever for developers. iCIRT rated developers and builders now represent over half of the residential market by value, putting those whose entire build team is iCIRT rated in a unique position of being able to showcase their trustworthy credentials.
While PEP, sanctions and adverse media screening are vital for customer due diligence, false positives create unnecessary delays and frustration. These inaccurate matches waste time and resources, slowing down onboarding and impacting the customer experience.
So, how can you optimise your screening process and minimise false positives?
Residential builders across Australia are choosing to distinguish themselves from high-risk and unscrupulous operators by seeking an iCIRT rating.
As we know, ‘trustworthiness’ is a crucial business asset. With the construction sector continuing to experience high insolvency rates, 4 in 5 Australians are concerned about construction quality, defects and insolvency risk.
Builders who have undergone the iCIRT assessment share three key reasons how an iCIRT rating has benefited their business:
Consumer trust in the construction sector continues to fall, with two-fifths of Aussies saying their perception of the industry has gotten worse over the past 12 months.
Equifax has been recognised as an ABA100 Winner for Business Innovation, Digital Transformation and Business Transformation in The Australian Business Awards 2024.
When it was announced in 2017 that the world’s most valuable resource is no longer oil but data, organisations were already leveraging data to manage credit risk, predict future trends, and unlock new revenue systems to drive business growth.
