Real-time data for payday lenders

Press Association
File photo dated 16/12/12 of the website of payday loan company Wonga, as payday loan firm is to start using a new
File photo dated 16/12/12 of the website of payday loan company Wonga, as payday loan firm is to start using a new

%VIRTUAL-SkimlinksPromo%Payday loan firms including Wonga are to start using a new "real-time" information sharing service about consumers' borrowing habits to help them to improve their lending decisions.

The new service is being launched by credit reference agency Callcredit to tackle concerns that lenders should have the most up-to-date and accurate snapshot of a potential borrower's circumstances when they make a loan request.