Invitation to attend the BIIA 2019 Biennial Conference 

Five weeks to go and there is still time to register


Latest update on the Panel Discussion: The Future of Credit and Credit Information

There has recently been a lot of talk about the changes which are happening in the credit and credit information ecosystems and what the future will hold.

Our final panel session at the BIIA 2019 Biennial Conference will look to explore these changes and what that means for organizations granting credit and for those supporting these organizations such as credit information companies.  One thing is certain, our industry will not be the same five years from now.

Here is what our panelists recently said:

Ben Elliott, CEO of Experian APAC, commented: “The acquisition of Look Who’s Charging, the Australian fintech startup, is our sixth investment in Asia Pacific since 2017, following venture investments in Grab, Jirnexu, C88 Financial Technologies, and CompareAsiaGroup.  This demonstrates our ongoing commitment to investing in the region and using our advanced data and analytics expertise to remove complexity from the lending process.”

Jérôme Pezé, CEO of Tinubu Square stated earlier this year:  “The credit insurance industry will face its biggest challenges as we move into 2019, due to changes in the risk landscape, increasingly volatile markets, and the continued threat of company insolvencies.” He expected demand for greater governance and transparency to grow in 2019, particularly in the assessment of exposure across different business functions and by industry.

In 2018 Tinubu Square launched Tinubu Innovation Lab and in 2019 has reached the final “top 5” of the inaugural Global Corda Insurtech Challenge, a competition that rewards blockchain insurance startups and the innovation investment arms of insurance companies.

Matt Gamser, CEO of the SME Financial Forum, is a compassioned champion of financial inclusion of individuals, micro and small businesses. He recently raised the following questions: Why, despite so much expansion of operations (and the positive results of the spread of credit information worldwide and in Asia), are so many people & businesses still uncovered and also not included?   What are some of the breakthroughs that are leading to more people being “covered”?  … and why (picking up on 2 years ago) have so many of these come from outside the established industry?  What is the credit information industry doing?  How do regulation and regulators affect progress in this area?”

In his opinion: “Credit” information is dead, long live financial capability information? Meaning services moving beyond just financing (including prescribing other individual and business support).”

Cato Syversen, CEO of Creditsafe, describes his attributes as being strategic, unstructured, creative, a good laugh, unpredictable, restless, direct, obsessive and on a mission to make sure that Creditsafe remains one of the world’s largest providers of business information.  One of his specialties is getting companies to change the way they use business information.  The Financial Times  (FT) describes him as a prime motivator aiming to provide a surprise at least once a month so that people go home saying ‘you will never believe  what happened at work today …’; he also believes in talent competitions.  That implies that he himself is highly competitive and has taken Creditsafe successfully to places where key competitors felt safe on their home turf.  We look forward to hearing a disrupter’s views about the future of credit and credit information.

Peter Villa, COO of Schufa Holding AG, is involved in the application of leading technologies to enhance customer experience, to improve data quality and to raise operational efficiencies. He participates in Schufa’s forward thinking initiatives such as the recent acquisition of finAPI GmbH, which develops and implements sophisticated solutions for integration and analysis, based on artificial intelligence technologies.  Villa stated: “This latest investment is a clear signal of the strategic direction of Schufa to become a leading solutions provider in the field of credibility, identity and fraud prevention for corporations and private clients.”

The moderator will be Neil Munroe, Deputy Managing Director of BIIA and member of the BIIA executive committee. Neil comes to BIIA with 35 years’ experience in the financial services and credit reporting industries.  As an industry representative he served as president of ACCIS for 11 years.  Neil has witnessed many changes in the credit landscape and our industry and the inevitable responses from regulators.

Given the almost unprecedented pace of technological change we expect this panel discussion to be rather provocative.  

To learn more about the entire program click on this link.  To register click here.