Like most modern lenders, Credicorp uses technology to help assess applications and run accounts efficiently. We think it's fair to be open about that, so here's a plain explanation of how it fits into our lending to UK companies.
What technology helps us do
- Bring together the information relevant to a company's application
- Look at patterns in how a business trades and manages its commitments
- Keep accounts, statements and communications accurate and timely
Decisions about your business
Our assessment is focused on the company, how it trades, its cash flow and its overall circumstances, rather than on a director's personal credit standing. The outcome and any terms are specific to your business, and the rate and term that apply are always those set out in your own offer.
Talking to a person
Technology supports our work, but you can always reach a human. If you want to understand a decision or discuss your company's situation, get in touch and we'll talk it through.
Your data
We handle the information involved in line with UK data-protection law, and our privacy notice explains it in full. As with all our lending, this is exempt business lending, so the Financial Ombudsman Service and FSCS protection do not apply.
See also: How Credicorp decides whether to lend to your company, How is my data used in lending decisions? and What we look at when we make a lending decision.