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UK Credit Monitoring Market Report

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Credit Monitoring market, and the behaviours, preferences and habits of the consumer.

Mintel has the answers you’re looking for

What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Key points included

  • Scope for lenders and banks to extend into credit check services
  • Subscription-based services need to differentiate to survive
  • Improving levels of engagement among financial strugglers

Covered in this report

For the purposes of this report, the terms “credit scoring” and “credit monitoring” are used interchangeably to describe the services people use to access information about their credit score and credit history.

This report focuses on consumer use of credit monitoring services, rather than B2B (Business-to-Business) services. It does not look at the role of credit references agencies in detail but instead focuses on consumer-facing brands and providers

Expert analysis from a specialist in the field

Written by Deborah Osguthorpe, a leading analyst in the Financial Services sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

Mintel expects more and more people to start using credit scoring services over the coming years. Consumers will continue to be interested in using their own data to help inform financial decisions, especially among younger age groups.As managing finances moves away from a focus on individual products, to a platform-type approach using open banking technology, access to credit scoring services will become an integral part of consumer finances. Deborah Osguthorpe
Head of UK Financial Services Research

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What's included

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Table of contents

  1. Overview

      • What you need to know
        • Economic overview
          • Business health
            • Special focus: B2B finance
              • What’s next?
              • Economic Overview

                • Annual GDP growth falls to six-year low in 2018
                  • Figure 1: Annual GDP growth rate, 2014-18
                • Bank rate remains at 0.75%
                  • Figure 2: Bank rate, 2008-18, by date of adjustment
                • CPI rate hits two-year low…
                    • Figure 3: Consumer Price Index, January 2018-January 2019, (12-month rate)
                  • …which has boosted wage growth
                    • Figure 4: Average weekly earnings, total pay, January-December 2018, Great Britain
                • Business Health

                  • Although 85% of small businesses’ finances are ‘healthy’ or ‘ok, many miss out on business opportunities due to a lack of funding
                    • Figure 5: Current finance situation of the business, June 2016 vs June 2017 vs June 2018
                  • Business turnover rebounds in 2018
                    • Figure 6: UK business turnover, 2018, at the start of the year, by business sector
                  • Insolvencies rise for third consecutive year
                    • Figure 7: Company insolvencies in England and Wales, Q3 2016-Q4 2018
                  • Business investment levels fall and profitability continues to stagnate
                    • Figure 8: UK PNFCs net rate of return, Q3 2016-Q3 2018
                    • Figure 9: UK total business investment, Q3 2016-Q3 2018, (chained volume measures and not seasonally-adjusted)
                • Special Focus: B2B Finance

                  • Net lending remained positive in 2018
                    • Figure 10: UK MFIs’ net loans to non-financial businesses, Q4 2016-Q4 2018, by size of business, (not seasonally adjusted)
                  • Credit availability and demand falls in 2018
                    • Figure 11: Availability of corporate credit to PNFCs in the past three months, Q3 2016-Q4 2018, by business size
                  • Write-offs on loans to non-financial companies fell to an eight-year low in 2017 but are expected to have risen in 2018
                    • Figure 12: Write offs of loans to PNFCs from banks and building societies, Q3 2016-Q3 2018, (not seasonally adjusted)
                • What’s Next?

                  • Businesses plan to reinvest profits to develop and to increase the cash held in reserve
                    • Figure 13: Business owners' plans for their business' finances over the next two years, June 2018
                  • Business confidence reaches a decade low at the start of 2019
                    • Figure 14: Business Confidence Index, Q1 2018-Q1 2019
                  • General consensus suggests slower economic growth
                    • Purchasing Managers’ Index Surveys
                      • Increasing threat of no-deal Brexit driving change in company strategy
                        • Businesses responding to potential loss of passporting rights
                        • Appendix – Data Sources, Abbreviations and Supporting Information

                            • Abbreviations