What data is used by UK banks and financial institutions in their lending decisions?

UK Banks make credit decisions based on available customer data primarily from credit reference agencies. Financial institutions must always lend wisely, based on whether consumers are able to pay debt as well as protecting against fraudulent activity.

Please see the following internet extract which highlights the readily available shared data which is available to be assessed by any UK banking institution or financial organisation from a Google search:

Data included in searches combine consumers rent, mobile phone and utility bills history. Educational background such as university degree and occupation. Employment and income history. Existing banking relationships including account transactional data such as the size and frequency of income and the magnitude and types of outflows, number of open accounts, total levels of debt, and repayment history. A search across multiple data points for inconsistencies in a borrower’s identity, including a full range of public records and digital fingerprints from a consumer’s use of social media. Web browsing history and email and IP addresses. Employment and income history. Age and whether the borrower has an existing overdraft agreement.