The credit checking agency Equifax and ENSEK, a UK energy company, have formed a joint partnership to support identity verification and credit assessment services for new-to-market energy suppliers.
The firms will supply real-time consumer and commercial data to energy providers, enabling them to onboard new customers more efficiently as part of an automated process. According to the firms this will give energy firms a better understanding of customers at point of registration, helping to mitigate the risk of fraud and bad debt. As a contribution to a consumer’s credit history, it could also be a proposition for those looking to improve their score.
Rebecca Hammond, Head of Utilities at Equifax, said: “The energy sector continues to evolve at a rapid pace and undergo significant change, particularly with the growth of new market entrants, increased switching volumes and smart metering implementation. Coupled with the fact that energy suppliers are under evermore political pressure to increase engagement with customers, avoid price rises and cap prices for the most vulnerable. This partnership with ENSEK is a further demonstration of our commitment to supporting the energy sector, by offering solutions that allow smaller providers to grow sustainably, and provide their domestic and business customers with confidence in the accuracy and efficiency of the switching and onboarding process.”
And Jon Slade, CEO at ENSEK, said: “ENSEK is transforming the way suppliers interact with the industry and its end customers. As a leading Credit Bureau, Equifax are an ideal partner, and through the integrated solution we’ve developed we will be further empowering our clients’ ability to serve their customers better through data. ENSEK has lowered the barrier to entry through its use of modern technology and industry expertise. The additional insights gained from the integration with Equifax will provide new entrants and those looking to challenge the status quo with compelling and competitive offers for the end consumer – from unique credit focussed products to the proactive management of debt and fraud.”
