TransUnion is the new trading name of Callcredit in the UK. The usual high levels of service and products will continue as normal whilst we update the brand over the coming months.

Affordability checks and fraud prevention


PiggyBankPiggyBank is one of the first peer-to-peer short term lenders in the world and launched in April 2012.  The company uses lenders one-off deposits of £100 to £25,000 to lend out to borrowers in the form of short term loans.

The system for borrowers and lenders is 100% online, built using industry leading, secure and future proof software. Meaning that PiggyBank is one of the most innovative short term lenders in the world.

PiggyBank is a competitive short term solution for getting funds to pay for any unforeseen circumstances, and is more cost effective and has less liability than paying the minimum payment on a credit card or going over an agreed overdraft limit.


As PiggyBank Loans is a new short term lender in the market they needed solutions in place to ensure every person who applies for a PiggyBank short term loan;

  • can afford to pay it back - (payment verification)
  • fits within their stringent affordability criteria - if a customer does not meet the criteria and pass the checks, they won't lend to them - (affordability checks)
  • is who they say they are - (fraud prevention tools in place)

The Solution

  • CallValidate - allows PiggBank to undertake real time, effective and reliable identity verification against bank accounts and credit card provider's records on every applicant - helping the company to prevent ID fraud.
  • CallReport - quickly and cost-effectively confirms an applicant's name, address and presence or absence of adverse data, as well as assessing the applicant's likelihood of credit risk.  This allows PiggyBank to establish if the applicant can afford to pay back the loan and ensure responsible lending practices are upheld.


PiggBank is committed to responsible lending and the solutions provide by Callcredit have allowed the company to:

  • ensure a borrower only borrows what they can afford to repay
  • only lend to those who can pay back the money they have borrowed, not only does this benefit the borrower but also reduces PiggyBank's default rates.

CEO, PiggyBank commented: "Callcredit fully understood our requirements and responded quickly to our needs.  As a new company we needed expertise and support from a respected credit data provider and they were able to provide personal tailored advice.

"It is great to be benefiting from Callcredit's market-leading response times and innovative approach to customer matching."