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Finance industry must work together to ensure GDPR privacy notice changes are effective

As companies prepare for new general data protection regulation (GDPR), Steve Martin, Data Protection Officer at Equifax highlights the importance of a consistent approach to making privacy notices understandable and accessible: “Data sharing and analysis can bring huge benefits to consumers, but raises concerns about how personal information is used, and who can access it. The new general data protection ... Read More »

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

BIIA Biennial Conference 2017

BIIA invites business and credit information industry professionals 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, Thailand The conference will start with a Welcome Reception in the evening of the 18th October 2017.  The main conference sessions will commence on October ... Read More »

Experian and Finicity collaborate to digitize the lending marketplace with an easier, quicker and less tedious experience for consumers and lenders

New technology will allow for real-time income and asset verification from more than 80 percent of all financial accounts, making paper-based processes more obsolete Experian® and Finicity have joined together to make it easier for consumers to apply for a loan, accelerating loan underwriting and broadening loan availability. The new technology also improves accuracy and reduces fraud risk for lenders.  Experian’s new Digital Verification Solutions will ... 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 »

CIBIL Provides Credit Scores Online Free of Charge

Borrowers can now get their credit score free of cost from TransUnion Cibil, India’s first credit information company.  Cibil said it will offer free annual credit score and report for consumers online. “We are pleased to provide this new offering, which gives all consumers online access to their Cibil score and report in a few minutes from any computer or ... Read More »

CRIF Acquires Full Ownership of CRIF NM Credit Assure Ltd. Jamaica

CRIF, a global company providing credit bureau, business information and credit solutions, has announced the acquisition of the remaining shares in CRIF NM Credit Assure Ltd., a joint venture between CRIF and Massy based in Kingston. CRIF NM Credit Assure was established in 2011 with the objective of providing a world-class credit bureau and related added-value services in Jamaica and ... Read More »

BIIA at the Inter-American Development Bank (IDB) Washington Conference

BIIA attended a recent meeting organized by the IDB – Inter-American Development Bank on “Credit Reporting in the Americas: The current state of the industry and its regulations”.   At the IDB conference Neil Munroe, president of ACCIS and BIIA’s deputy managing director, provided an overview of the EU’s regulatory approaches to innovation.  Neil Munroe covered the following topics: EU policy ... Read More »

Equifax Canada Advances ‘Data Democracy’ Through Equifax Ignite(TM)

Canadian businesses gain faster and greater access to data-driven insights with new analytics powerhouse Equifax Canada announced the launch of Equifax Ignite(TM), a data analytics powerhouse that can rapidly deliver business insights in a self-serve environment. Through advanced analytics such as trended payment data and enhanced risk scores, Equifax Ignite enables the development of precise, targeted insights about consumer behaviours that ... Read More »

Equifax Gains Full FCA Authorisation

Equifax has been granted full Financial Conduct Authority (FCA) authorisation with effect from Wednesday 1 March 2017. The FCA approval comes at a pivotal time for credit reference agencies (CRAs), with technological advances and shifts in customer behaviour fuelling important developments in data sharing, evidenced by industry initiatives such as Commercial Credit Data Sharing (CCDS) and the Open Banking Standard. ... Read More »

TransUnion Bolsters Fraud Prevention Exchange as Online Fraudsters Continue to Impact Personal Loan Delinquency Rates

Newly released TransUnion data found that as personal loan delinquency rates rise, online fraud, which includes loan stacking, continues to make significant contributions to these increases.  Serious delinquency rates (90+ days past due) at the conclusion of 2016 for personal loans originated in 2015 rose to 6.22%, up nearly 3% from the year-end 2015 delinquency rate of 6.05% for loans originated in ... Read More »

Killer Devices to Hacked Fingerprints: FICO Predicts 17 Financial Crime Trends for 2017

Highlights: FICO experts predict a wide range of challenges in fraud, cybersecurity and money laundering in 2017 The 17 predictions include IoT threats, cybersecurity transparency, EMV confusion, hacked biometrics and illegal migration rings FICO is a leader in financial crime solutions If the world seemed dangerous from a financial crime perspective last year, experts at Silicon Valley analytics firm FICO predict an even more challenging 2017. In ... Read More »

Veda Rebrands to Become Equifax in Australia and New Zealand

Veda has today completed its rebranding process to officially become the Australian and New Zealand division of Equifax, the global information solutions company, listed on the New York Stock Exchange, and the leading provider of credit information and analysis in Australia and New Zealand.  Equifax acquired Veda Group Limited in February 2016, and has been working closely with the Veda ... 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 »

Equifax Disrupts the Global Market with Debut of Revolutionary Data and Advanced Analytics Portfolio, Equifax Ignite™

Through the optimization of differentiated data, analytical techniques, and advanced technology, Ignite redefines customer’s access to data, reduces speed to production from months to days  Equifax (NYSE: EFX) announced the global launch of its powerful analytics portfolio, Equifax Ignite™. Available now in the U.S., Canada, the U.K. and in Australia in the fall, Equifax Ignite challenges the traditional “one size fits all approach” with an innovative suite ... Read More »