The 2018 CoreData latest industry and consumer research is now available. Here is an overview of the key findings of that research.
The NCPA also engaged Gregory Mowle to undertake research into the financial literacy and behaviour of a typical small loans consumer.
Gregory Mowle – SACC Lending Financial Literacy & Behaviour
In 2017 NCPA again engaged an independent research organisation, CoreData, to undertake the latest in industry and consumer research into the small loans sector. Here is a brief overview of the key findings of that research.
In March 2015, the NCPA first engaged an independent research organisation, CoreData, to undertake the single largest data research project into the small and medium amount loans industry since the legislation changes came into effect in 2013.
It is also the first research of its kind into the use of small amount credit contracts.
The research looked at data from the providers of small loans, with CoreData gathering data for eight quarters, the first quarter being Q3 2013 (quarter beginning July 2013) and the last being Q2 2015 (quarter beginning April 2015).
There were a total of 23 submissions from Australia’s major providers of consumer credit, including Cash Converters, Money3 and Nimble, which together make up an estimated 80% of the industry’s total gross revenue. Relevant data were also obtained from Credit Corp’s ASX submissions to supplement these submissions.
The key findings from the report can be found at Small Loans: Myths and Facts
To view the full report, please follow the link below.
