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Trade Credit Risk Climate: Number of Business Insolvencies Peak in 2016

Despite increased claims core markets remain soft due to an ongoing growth in volumes of insured business Members of the International Union of Credit and Investment Insurers (Berne Union) and the International Credit Insurance and Surety Association (ICISA) have signalled high levels of claims for 2016 in the latest joint industry member survey. Data trends suggest a peak, with claims ... 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 »

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 »

Transparency: Russia Has Joined the Multilateral Competent Authority Agreement on Automatic Exchange of Country-by-Country Tax Reporting

The Multilateral Competent Authority Agreement on automatic exchange of Country-by-Country Reporting¹ was signed by the Federal Tax Service of Russia on 26 January 2017 within the framework of implementation of the Plan on counteracting tax base erosion and profit shifting (BEPS Plan); the Plan was approved by top public officials of “G-20 Group”. Currently over 50 countries have adopted the ... Read More »

Compliance:  Protect Your Reputation, Make Smarter Decisions and Reduce Friction While Performing Due Diligence on Customers

Confidently acquire the right business customers with Business Compliance InsightTM, a comprehensive report that aggregates key sources for Customer Identification Programs Companies that need to evaluate merchants, suppliers or customers must face the real threat of mistakenly acquiring customers that engage in identity theft schemes, money laundering or funding terrorism. To help these companies meet multiple Know Your Customer (KYC) ... Read More »

Equifax’s Income and Employment Verification Product to be Introduced Soon in India

US-based Equifax, a consumer credit reporting company, is planning to launch its income and employment verification product to India.   Talking to BusinessLine on the sidelines of the Nasscom India Leadership Forum, David Webb, Chief Information Officer, Equifax, said the company is keen to add to its portfolio of solutions that it offers to the Indian market. Equifax is offering credit ... Read More »

P2P Lending: China Regulators Warn That 90 Pc of Peer-to-Peer Lenders Could Fail in 2017

Nine out of 10 of the mainland’s peer-to-peer (P2P) lending platforms will struggle to survive this year as the government rolls out tightened regulatory supervisions, according to a multi-agency report recently led by the Beijing Bureau of Financial Work.  About 500 P2P companies, out of the total 4,856 players across the nation, are likely to maintain their operations this year, ... Read More »

Australian Privacy Actions: ABR Gazette Change, February 2017

The ABR Gazette is a subscription-only commercial information service, collating public record information on companies and individuals such as insolvency, bankruptcy and court data relating to debt. The cover of the ABR Gazette includes the terms and conditions of use, restricting it to the assessment of credit risk Veda has agreed to amend the ABR Gazette in the next three ... Read More »

Russian Company Statistics: The Liquidation of Legal Entities has been Increasing, but not Due to Bankruptcies

In 2016 approximately 499,000 legal entities were created, however during the same period 781,000 legal entities were removed from the register, leaving a total registered active companies of 4.6 million as of January 01, 2017.  Liquidations in 2016 were 2.4 times higher than the 338,000 company liquidations recorded in a prior year.  According to the Federal Tax Service (FNS), which ... Read More »

CRIF Germany Launches CREDITY, a new B2B Credit Management Solution

CRIF has launched CREDITY, the new B2B Credit Management Solution (SaaS) for the non-finance service sector. CREDITY is an optimized decisioning & collaboration web tool for international credit management that companies can use for the daily management of their business customer portfolio.  The key benefits are: Fast & easy onboarding (no customization projects required) Cutting edge user interface (“strong UX”) ... Read More »

BIIA in Action:  China Internet Finance Credit Reporting Forum 2016 (Dec 1-2)

Shine Consultants hosted the 2nd China Internet Finance Credit Reporting Forum 2016.  The event was attended by a wide range of industry players from the commercial banking industry, P2P lending, consumer finance, credit bureaus, risk prevention and big data companies.  The event was co-hosted by the Shanghai Credit Services Trade Association. For the second time BIIA was a supporting organization ... Read More »

EU Study: Small Businesses Increasingly Confident About Access to Finance

EU Publishes “Survey on the Access to Finance of Enterprises” (SAFE). The Survey was published on: 30/11/2016 Key Findings: Small businesses from the EU are increasingly confident about their access to finance, according to a joint survey published today by the European Commission and the European Central Bank. Access to finance is the least pressing problem in general and businesses’ demands ... Read More »

Fintech is the Game-changer for Financial Inclusion in Asia

Due to innovations in financial technology and changes in the enabling environment, the number of financially excluded adults across Asia and the Pacific has dropped to about 1 billion. Editorial comment: This topic was on the agenda of the Global Payment Summit 2016 and is a good summary of the potential impact FinTech has on financial inclusion.  Ms Lotte Schou ... Read More »

China’s National Development and Reform Commission (NDRC) and Alibaba to Build Credit System for SMEs

China’s top economic planner, the National Development and Reform Commission has teamed up with Alibaba to build a national credit system for small- and medium-sized enterprises. Millions of transactions take place on China’s largest e-commerce platform Alibaba every day leaving a trail of data.  The data will be integrated in a platform to promote credibility and transparency of SMEs in ... Read More »

Transparency: China & Cambodia to Exchange Credit Reports

The central banks of Cambodia and China are in talks to share customers’ credit reports in an effort to boost bilateral private investment, as a response to rising trade between the two countries. The National Bank of Cambodia (NBC) director general Chea Serey told Khmer Times yesterday that discussions were held with senior People’s Bank of China official Luo Yue ... Read More »