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Commercial Credit Reporting

Company Data – The Full Picture for Legal Professionals

Following the Panama Papers scandal, introduction of the PSC register, and increasingly complex ownership structures, Chris Bull talks to Roger Carson Roger Carson, co-founder of Encompass Corporation and Wayne Johnson, CEO and Co-Founder, Encompass Corporation, about why getting a grip on company data has been so critical. The leak of the Panama Papers serves as a forceful reminder to corporate ... Read More »

Philippines’ CIC to Collect Telco Clients’ Credit Data

State-operated Credit Information Corp. (CIC) has ordered telecommunications firms to submit subscribers’ basic credit data by year end in order to come up with a centralized and comprehensive credit information system in the country. Telecommunication companies must submit by Dec. 31 data subject and contract data. This is a great win for Transparency, Financial Inclusion and for Economic Growth in ... Read More »

Commercial Credit Information in Spain: An Overview

INFORMA D&B provided recently an overview of the roles of commercial credit and commercial credit reporting to a group of international credit professionals and central bankers.  The presentation contains details of the impact of credit on the national economy of Spain and answered the question “What is Commercial Credit Information used for? Find and gain knowledge about companies and their ... Read More »

Forget Microlending! India Needs Basic, Competent Credit Reporting

According to and article in Businessweek, K. C. Chakrabarty, deputy governor of the Reserve Bank of India, offered in recent speech an additional way to expand credit:  Better credit reporting.  No shepherds with phones, no happy mothers of four with new sewing machines.  Just credit reporting, plain old attention to detail, and administrative competence.  Chakrabarty indicated that it would help ... Read More »

Australian Risk Climate: New Legislation a Game-Changer for Commercial Risk Management

New Comprehensive Reporting legislation will add significant value to the assessment of the commercial risk of small businesses”, says Veda’s General Manager – Commercial Risk Products, Moses Samaha.  Speaking at a recent Veda road show to more than 150 Trade Credit businesses, Samaha urged creditors to also assess the credit profile of the directors and proprietors behind a company or business ... Read More »

China Regulates Credit Information

According to a press release of the Legislative Affairs Office of the People’s Republic of China, Premier Wen Jiabao, presiding over a State Council executive meeting, examined and adopted the “Credit Management Ordinance”. The legislation covers consumer and commercial credit information and took several years of extensive consultation between the Legislative Affairs Office of the State Council, the People’s Bank ... Read More »

Commercial Credit Information: Imperatives for Sharing of Payment Data

A recent survey of the US based National Association of Credit Management (NACM) revealed that 46% of respondents did not share trade payment data with commercial credit information companies (Credit Professionals Split on Sharing A/R Data).  BIIA’s Board Member and Contributing Editor Phil Cotter examines the reasons behind the aversions to share trade payment data and what can be learned ... Read More »

Financial Disclosure or Communication – A Necessity for Small and Midsize Companies

Financial disclosure and regular shareholder communication are requirements for large enterprises.  The customary glossy annual reports and quarterly statements give the impression that such practices are reserved for capital corporations only. Small, and in particular medium-sized companies generally believe that such practices do not apply to them.  To the contrary, small and medium size enterprises should adopt disclosure and communications ... Read More »

World Bank Issues General Principles for Credit Reporting

The World Bank, in collaboration with the Bank for International Settlements (BIS), the IFC (International Finance Corporation), various central banks and members of the information industry represented by ACCIS (Europe), BIIA (Asia Pacific), CDIA (USA) and the Latin American Credit Reporting Association, has been working on developing universal standards for credit reporting.  Following a six months consultative period the World ... Read More »

Asia: Demand for Experienced Risk Management Professionals is Soaring

The increasingly sophisticated regional business environment has created a huge demand for risk management professionals with banking and financial knowledge, analytical skills.  Although local universities provide education in accounting, banking and finance, the programs do not cover risk management and issues related to trade credit granting and collection management. IRmc’s Dr. Stanki Yuen, CEO of International Risk Management Consultants based ... Read More »

New Transparency for Credit Management – Value Added through Internal and External Information Sources

The German Credit Management Association recently held its 2011 conference and exhibit in Frankfurt/Main.   The conference focused on the topic of value creation through greater availability of internal and external information.   A number of presentations centered on methods in how the effectiveness of credit management can be measured.   The conference was well attended by credit professionals, information suppliers and members ... Read More »

Credit Information: What does ‘Freshly Investigated Credit Reports Mean’?

On June 13, 2011 BIIA posted a story “Customers Turn Competitors” discussing the offering of ‘freshly investigated credit reports’ by credit management associations.  The story was prompted by a discussion within BIIA what ‘freshly investigated credit reports’ means in terms of in-date rules.  For instance are credit management associations producing these reports; or only act as distributors and whether the ... Read More »

Commercial Credit Information: The Shape of Things to Come?

BIIA contributing writer Philip Cotter examines how two new entrants disrupt the current status quo in commercial credit information. Recently Cortera in North America and Creditsafe in Europe, have caused discomfort to the larger players through their aggressive pricing, PR practices that arguably allow them to punch above their weight and focus on serving the SME segments in the markets ... Read More »