Apply to become a credit reference agency or credit information services provider

You must be authorised by us if you want to provide credit references or credit information services. Find out how to apply for authorisation.

Read everything listed below

Start with our main 'how to apply' page for all applicants

Prepare your application

Include your business plan and other supporting material

Pay the application fee

You must pay this in order to apply

Submit your application

You'll do this on our Connect system, so please register first

You'll need to demonstrate that you can consistently deliver good outcomes for retail consumers.

What to read first

The application process

Our how to apply[1] page explains:

our expectations of all firms
the application process
how to avoid delays with your application

You must read this page in full before submitting your application through our Connect[2] system.

Our letters to your sectors

We expect you to make our Consumer Duty[3] a top priority.

Our portfolio letter[4] sets out our view of the main risks of harm and the action we expect firms to take.

You should also review the correspondence[5] for insurance intermediaries and credit brokers if you're proposing to carry out these activities as well.

Supporting material

Along with your application form, you'll need to provide a range of supporting documentation including your:

regulatory business plan
financial forecasts
required policies, procedures and other relevant forms on Connect

Check what supporting material[6] you need to include.

Our how to apply[1] page explains:

our expectations of all firms
the application process
how to avoid delays with your application

You must read this page in full before submitting your application through our Connect[2] system.

We expect you to make our Consumer Duty[3] a top priority.

Our portfolio letter[4] sets out our view of the main risks of harm and the action we expect firms to take.

You should also review the correspondence[5] for insurance intermediaries and credit brokers if you're proposing to carry out these activities as well.

Along with your application form, you'll need to provide a range of supporting documentation including your:

regulatory business plan
financial forecasts
required policies, procedures and other relevant forms on Connect

Check what supporting material[6] you need to include.

Prepare your application

You'll submit your application through Connect[8], so make sure you register[6].

Your application must include your:

application form
regulatory business plan (RBP)
financial forecasts – learn how to prepare your firm's financial information[7]
other relevant forms and supporting material[12]

Below are the specific things we expect to see in your application – providing this information will help you to demonstrate that you can meet our expectations.

We know we're asking for lots of information, but if you submit everything required in sufficient detail it'll help us assess and determine your application without delays.

If you plan on providing payment services

You'll need to make a separate application for payment services permissions, such as account information services or open banking.

Find out more about applying to become a payment institution[7].

In your regulatory business plan (RBP)

Explain where your firm will fit within the market and how your products and services compare to competitors.

This should include:

who your target customers are
how you'll ensure you distribute your products or services to your target market
the value your customers will get from your products and services
how this value is fair given the costs you face, and the price customers pay
how you'll ensure your data is accurate and secure, and how you'll comply with General Data Protection Regulations (GDPR) when dealing with personal customer data
how you'll deal with disputes, corrections and complaints

Wind-down plans for credit reference agencies

If you're applying to be a credit reference agency, you'll also have to provide details of your wind-down plan.

This should be tailored to your business and explain how you'd wind down your firm's business in an orderly manner to ensure you aren't trading while insolvent.

In particular, it should include:

the different scenarios that could lead to a wind-down
the related trigger points for each scenario
how your firm will monitor the potential for wind-down
the practical steps you'd take in winding down the business including the servicing of any in-flight loans

You must answer all questions on the application honestly, including on Form As, and provide us with full information regarding any disclosures you make, including details about any removals you've had from lender or product providers’ panels.

If in doubt, let us know as much as possible, even if it may not seem relevant.

If you don't disclose something, we take this very seriously and may consider it to be evidence of dishonesty and/or lack of integrity.

Application fee

You have to pay a fee to submit your application. The fee is non-refundable.

If you're applying to become a:

credit reference agency your fee falls into pricing category 6
credit information services provider your fee falls into pricing category 3

You may have to pay other fees if you also need payment services permissions.

Find out more about our authorisation fees[8], including our pricing categories and how to pay.

Final check and submit

Before you submit everything on Connect, give it one more check to be sure you've included everything.

Our how to apply[9] page has 3 top tips to ensure your application goes smoothly, and explains what happens after you've submitted it.

If you need more help

Please contact us on 0300 500 0597. We're open Monday, Tuesday, Wednesday and Friday 9am to 5pm, and Thursday 9.45am to 5pm.

First published: 27/04/2020 Last updated: 17/09/2024

Apply to become a credit reference agency or credit information services provider

What to read first

Prepare your application

Application fee

Final check and submit

If you need more help

On this page

More on authorisation