RAND Europe was commissioned by the Financial Conduct Authority (FCA) to conduct forward-lookingresearch to understand how the credit information market might evolve in the future. The research wasundertaken between July 2019 and December 2020. This report forms part of the Credit Information

Market Study (CIMS) undertaken by the FCA.1A rigorous, structured and expert-led approach was adopted to identify several plausible scenarios of howthe credit information market might develop in five to ten years’ time.

Using a structured scenario methodology and an extensive, iterative expert and stakeholder consultation,this project identified the factors influencing change, built an understanding of how the market mightevolve in the future and the implications of different scenarios. The findings published in this report formpart of the overall evidence base for the Credit Information Market Study.