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Financial Inclusion

US Risk Climate: Small Business Owners Remain Optimistic

A surge in small business optimism that started last November was continued in March, according to the National Federation of Independent Business’ (NFIB) Small Business Optimism Index. Though the index slipped slightly, it still posted a strong reading, with gains in actual earnings, capital expenditure plans and job-creation plans. Sales expectations, however, dropped eight points, signaling that the index could ... Read More »

Kreditech Russia Achieves Microfinance Company Status

Kreditech Group’s subsidiary, LLC MFC “Kreditech Rus”, received the status of a Microfinance Company (MFC) on March 27, 2017 from the Central Bank of Russia. A new federal law in Russia aims to make the microfinance market transparent and understandable. It therefore requires the MFC status for all alternative lending companies operating in the country. As a Microfinance Company, Kreditech Russia ... Read More »

Financial Inclusion:  Nepalese Credit Unions Rebuilt

Financial Inclusion was restored in Nepal by rebuilding local credit unions following Nepal’s worst earthquake in 80 years.  Thus hope has been restored to the country’s credit unions, known as Savings and Credit Cooperative Societies (SACCOS). Nearly 9,000 lives were lost and more than 900,000 homes damaged in the earthquake. The Nepal Federation of Saving and Credit Cooperative Union Limited (NEFSCUN) estimates ... Read More »

Credit Bureau Cambodia Expands Database

The credit histories of about 400,000 borrowers were added to its database last year, raising the number to slightly more than 4 million in credit bureau database, Credit Bureau Cambodia Interim CEO Mr. Oeur Sothearoath says at the bureau’s newly opened office in Vattanac Capital. All of this data is stored on Power7 servers and managed locally with international expertise ... Read More »

Financial Inclusion: Cibil TransUnion to Assist Borrowers Get the Best Loan

India’s first credit information company, TransUnion Cibil, with the launch of Cibil Marketplace will assist the borrowers to get the most appropriate loans available, on the basis of the borrower’s credit scores and history, in a bid to stay ahead in competition with other online retail loan aggregators. At present, Cibil offers retail loans like personal loans, credit cards, loan ... Read More »

Keep the Date: BIIA 2017 Biennial Conference Bangkok, Thailand October 18 to 20, 2017

BIIA Biennial Conference 2017

BIIA invites its members from the business and credit information industry, users of information services, government policy makers and regulators to attend the BIIA 2017 Biennial Conference, where we intend to discuss disruptive technologies  impacting our industry and the businesses of our customers. Venue: The Okura Prestige Hotel, Bangkok Thailands October 18, 2017: 13:00 hrs:  Registration opens 17:00  hrs: Membership ... Read More »

Russian Risk Climate:  State Financial Support and Improving Information Transparency will Facilitate SME Access to Favorable Funding

«Program 6.5%». The Russian Corporation for the Development of Small and Medium Sized Businesses launched, in 2015, a funding program in association with 31 banks.  The program entails the provision of funding in the range of US$ 175,000 to US$ 17,500,000 at an interest rate of 10.6% for small businesses and 9.6% for medium businesses.  This compares favorably with current ... Read More »

Consumer Credit Behavior: Hong Kong Credit Card Holders Least Aware of the Impact on Credit Score if they just Pay the Minimum, Survey Reveals

Hong Kong credit card holders were the least certain about the importance of paying more than the minimum balance on their monthly statement, according to a survey conducted by an international credit information company.  In Hong Kong, 41 per cent of credit card holders were unsure about the benefits of paying above the minimum balance, according to a consumer credit ... Read More »

Experian Joins Marketplace Lending Association to Drive Responsible Financial Innovation

Marketplace lenders continue to be at the forefront of transparent and responsible financial innovation. This growth has helped to ensure that consumers and small businesses have access to the capital that they need to thrive. As part of our commitment to driving responsible financial innovation, Experian has joined the Marketplace Lending Association as an associate member.  Now more than ever, ... Read More »

US Consumer Credit Climate: Credit Products Including Auto, Credit Card and Personal Loans in 2016

TransUnion report finds personal loans continued to grow in popularity; Baby boomers make up largest share of consumers with a personal loan in 2016 Auto loans, credit cards and personal loans reached new milestones in 2016 as the number of consumers with access to these products continued to grow, according to TransUnion’s (NYSE:TRU) Q4 2016 Industry Insights Report. The report, powered ... Read More »

Experian and Lenddo Provide Financial Inclusion to Millions of Customers in Indonesia and Vietnam

Experian announced a partnership with Lenddo, a leader in non-traditional data solutions, as part of Experian’s Consumer Financial Inclusion Indexing platform in Indonesia and Vietnam. Using Experian’s global expertise and knowledge, the introduction of Lenddo’s technology into Experian’s platform will provide financial firms with more information to offer appropriate financial services. Consumers who are unbanked or underserved by major financial ... Read More »

Philippines: The Road Towards Financial Inclusion

CIBI Information, Inc. of the Philippines has published its Annual Report for 2016 on Financial Inclusion It is a dynamic goal, or probably even a valiant act, owning the challenge of revolutionizing the consciousness of our nation about the advantages of building a good credit history; by influencing the lending institutions in providing, what we call, responsible lending services; and ... Read More »

India Is Building the Infrastructure for a Truly Digital Economy and Financial Inclusion

India’s 1.1bn people now have an identity!  Financial inclusion: 270 million bank accounts opened within the last three years.  Unified Payment Inferface (UPI) allows digital payments based on the Aadhar number with biometric authentication.  Welcome to India Stack  India may have leapfrogged the US technology industry with simple and practical innovations and massive grunt work. It has built a digital infrastructure that ... Read More »

Experian India Partners with BankBazaar.com

BankBazaar.com, India’s leading financial marketplace, has announced its tie-up with credit bureau Experian to offer free credit monitoring service to customers, giving them a much better understanding of their financial footprints. Experian Credit Information Company of India Private Limited provides Credit Information Services to consumers. A general misconception is that checking your own credit score on platforms like BankBazaar will ... Read More »

Schufa Introduces a New Guide to Improve Financial Literacy

Schufa’s Education initiative “WirtschaftsWerkstatt” (BusinessWorkshop) has reached over 5 million young Germans.  According to its forsa poll, 72% of young Germans want to learn more about financial topics.  Dr. Michael Freytag, Chairman of the Management Board of Schufa commented: “The sooner young people can handle money, the better.  The latest forsa study indicated that there is still a considerable need ... Read More »

IFC Promotes Increased Access to Credit in Lao PDR

IFC, a member of the World Bank Group, is working with Bank of the Lao PDR (BOL) to reform its credit-reporting framework. This is part of a wider effort to improve the country’s financial infrastructure, facilitate lending for smaller businesses, and boost economic growth. Around 100 representatives—including government officials and managers of local financial institutions—attended an international symposium on credit ... Read More »

Equifax Consumer Credit Impact Analysis: Trended Credit Data Leads to Higher Financial Inclusion

Equifax Inc. announced that its December 2016 Consumer Credit Impact analysis found that trended credit data used alongside a consumer’s traditional credit report could improve access to credit and/or loan terms for up to 1.5 million consumers on an annual basis. Trended credit data provides up to 24 months of a borrower’s payment patterns, and offers a historical perspective of ... Read More »

Ant Financial Pushes Rural Finance Service

Ant Financial Services Group, Alibaba Group Holding Ltd’s financial-services affiliate, has ramped up its expansion in rural finance-with the company announced recently that it will provide so-called acquaintance-based loan services, big data-based online loan services and supply chain financing for the rural population in China. Acquaintance-based loan services is a new model created by Ant Financial for rural financing, in ... Read More »