CTOS Malaysia has launched a new credit scoring system called CTOS Score, aimed at providing banks with a more detailed evaluation of a consumer’s credit risk, even if the consumer in question does not have a credit history. According to Eric Chin, CEO of CTOS Data Systems Sdn Bhd, they will be leveraging their proprietary data for greater risk prediction.
Apart from information from the Central Credit Reference System (CCRIS), we also obtain information from non-banking sources such as the Companies Commission of Malaysia (SSM) and telecom companies. All these data sources permit us to get more accurate assessments of a person’s credit history,” explains CEO Chin.
The launch took place during the inaugural CTOS Global Forum 2016 with a panel discussion on the role of credit reporting in the financial ecosystem. Panelist included BIIA director Lawrence Yee, BIIA co-initiator David Emery of Reciprocus Singapore and Rory Matthews, CEO of Compustan Australia & Asia Pacific.
Other contributing exerts were Dr. Andrew Jennings, Senior VP of FICO; Shen Zhihua, Retail Risk Management Technology director of China’s Ping An Bank; Salome Pirtakhiya, Head of Retail Risk at Russia’s UniCredit and Kung Lim Siew Ghee, CTOS head of product development.
Source: The Star Online – Metro Section Malaysia
