Canada’s first small business credit bureau providing data for lowered risk and better decisions
With more than 1.9 million small businesses in Canada, which represents 80% of Canada’s 2.44 million businesses, the industry was challenged with limited and fragmented sources of small business information. The existing non-bank data was considered insufficiently predictive. Through a partnership with TransUnion and a consortium of Canada’s largest banks, TransUnion launched the first Small Business Credit Bureau in Canada, known as the Business Solutions platform. The platform provides unique data assets and allows financial institutions to gain better visibility into the overall financial health of a business for improved decisioning.
The solution is a data asset that is built on aggregating data to provide bank-specific tradeline data. This data covers specific small business payment behaviour and unlike supplier-based data, demonstrates the payment patterns of SB bank credit facilities, authorized limits and outstanding balances. Solution offerings available include the Small Business Credit Report and Small Business Risk Score.
Our sophisticated technology is designed for every stage of the customer lifecycle and drives sound financial decisions.