Dear Members,

The BIIA Newsletter November II – 2022 Issue is posted on this website.  To download the document, please click on this link: BIIA Newsletter November II – 2022 Issue

As we are emerging from the perils of the pandemic, we have to admit that the credit information industry did rather well during the past two years.  As a historian once said:  “Information  Grows in the Age of Uncertainty.“   Credit Bureaus and Rating Agencies experienced revenue growth percentages in the high twenties. 

As the uncertainty lingers on, the pendulum is now swinging in the opposite direction.  The decline in mortgage issuance and the decline in Global debt issuance is driving growth rates into minus territory.  Lucky those who are able make acquisitions or are sufficiently diversified.

Late Breaking News:

  • Revenue Growth Comparisons 2021 vs 2022
  • FICO Exits Germany
  • International Committee on Credit Reporting (ICCR) Issues Paper on Key Principles for Effective Regulation and Supervision of Credit Reporting Service Providers

Member News:

  • Superapp Grab has Announced a Partnership with Credit Reporting Agency CTOS
  • TransUnion Q3 2022 Revenues Up 26%
  • Experian Half Year Revenue Up 9% (Fiscal 2023)
  • GBG achieves UK Government Trust Framework Certification
  • Equifax Launches New Reemployment Services
  • LexisNexis Risk Solutions Earns Three Technology Industry Awards for Its Fraud Prevention Solutions
  • Annual LexisNexis Risk Solutions Study Finds Fraud Costs up to 22.4% from Pre-Pandemic Levels Across U.S. and Can. Financial Services Firms
  • Brankas and CRIF jointly Launch APAC’s First ever Open Banking Credit Score Product
  • CRIF Bahamas Discusses Progress of the Credit Bureau Initiative with Clearing Banks’ Association (CBA) Members and Introduces CRIF Digital Solutions
  • Why RegTech Collaboration is Key to Solving Financial Crime
  • Equifax Introduces CloudControl to Strengthen Digital Supply Chain Security for Company’s Products and Services

Industry News:

  • Moody’s Ratings Reported a 36% Decline in Q3 2022 Revenues
  • Moody’s to Acquire SCRiesgo
  • Harte Hanks acquires InsideOut Solutions, LLC for US$7.5 million

Post Pandemic Career Aspirations

  • How To Become A Cyber Millionaire

Credit Bureau News:

  • TransUnion UK Affirms Commitment To Learning and Development With The 5% Club
  • TransUnion Appointed to Support Multiple Credit Reference Agencies Model in Hong Kong
  • Cambodia Regional Credit Reporting Conference – Cross-border Credit Report Discussed
  • Experian Appointed to Operate Singapore’s “Buy Now, Pay Later” Bureau

We thank our members for the contribution to this newsletter and their support of BIIA. 

We wish our members an enjoyable holiday season and a happy, healthy and prosperous New Year.

Best regards
Joachim C Bartels
Managing Director and Editor-In-Chief