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Castle Water joins Experian’s Payment Performance Data Scheme
Castle Water, the UK’s leading independent business water supplier, has announced that it has joined Experian’s Payment Performance Data Scheme. Castle Water has introduced data sharing with Experian, a leading credit reporting company, to ensure that customer information is accurate and can therefore provide the best service possible. By assessing creditworthiness and product suitability, Castle Water can better tailor its services to help manage its UK customer business water accounts.
What is the Payment Performance Scheme?
The payment performance scheme is a reporting programme where Castle Water and Experian share data to advise how well customers pay their invoices. The data being exchanged may contain customer details and information relating to payment performance, such as billing invoices. Currently, hundreds of different companies contribute to this scheme and allow for shared data to help businesses make credit decisions.
Data Protection
The Information Commissioners Office (ICO) authorises the sharing of customer data without consent between business water suppliers and Credit Reference Agencies (CRAs). Castle Water and Experian take data protection very seriously. Castle Water is transparent about the type of data and how this data is being used.
Within the shared payment data, where personal/business data is used, Experian will only process this personal information on a legal basis if it is found to be of legitimate interest. This data is significant for helping lenders determine responsible loan decisions, as well as help, manage customers financially.
If you would like more information on data sharing, please refer to our privacy policy here.
*Please remember credit score is calculated across a range of factors, such as payment performance, current outstanding debt, business performance. Due to this, Castle Water cannot confirm to customers that our data alone has a positive or negative impact on Experian’s reporting.
