Dear Members,

The BIIA Newsletter October II – 2023 Issue is posted on the BIIA website.  To download the document, please click on this link: BIIA Newsletter October II – 2023 Issue

Two regulatory events were held in October 2023 in Indonesia:  The International Committee on Credit Reporting (ICCR) [World Bank Group] & the Asia Pacific Regional Consultative Group held back to back meetings with 68 members from the regulatory community and credit information industry attending.

BIIA played an active role in the organisation of the event utilizing its extensive network of contacts in the region to invite the relevant regulators and credit reporting providers.  BIIA as the trade association for the information industry in the Asia Pacific region is taking an active part in planning and running these meetings.

Generative AI continues to be in the limelight and governments across the world seeking to play a major role in regulations.  For example, the UK government is poised to launch a Global Advisory Group on AI.

Big tech is making daily news with new developments, such as IBM tooling up with a Microchip to reshape Artificial Intelligence.  Moody’s and Google Cloud entered into a partnership to harness generative AI in risk assessment. Amazon and Microsoft entered into a strategic partnership.

It is the third quarter earnings report season and three companies have published their results.  Thanks to a recent attendance at a conference, we were able to obtain current valuations of major business information companies (see first page).

In this latest newsletter you will find the following topics:

Late Breaking News:

  • BIIA at the International Committee on Credit Reporting (ICCR) and at the Asia Pacific Regional Consultative Group (RCG) Meetings in Bali, Indonesia
  • UK Poised to Establish Global Advisory Group on AI
  • “The Spirit of Bletchley Park to Help Global Advisory on AI”
  • News from IBM: NorthPole – A Microchip To Reshape Artificial Intelligence

Member News:

  • CIBI is Accredited as the Philippines’ First Advanced Tier
  • TransUnion Third Quarter 2023 Revenue up 3%
  • Equifax 3rd Quarter 2023 Revenue Up 6% –  Executive Summary
  • Equifax 3rd Quarter 2023 Revenue Up 6% –  Segment Results
  • GB GROUP PLC Half-Year Trading Update – October 2023
  • GBG Launches the International Identity Index to Address The Disparity In Digital Identity Ecosystems and Build a More Inclusive Identity Industry

Industry News:

  • Moody’s and Google Cloud Partner on Generative AI Applications Tailored for Financial Services Professionals
  • Amazon and Microsoft to Enter Strategic Partnership
  • Dun & Bradstreet India Partners with Small Farmers Agribusiness Consortium (SFAC) to Help FPOs Become Export Ready
  • ZoomInfo Platform Offers 321 Million Contact Profiles, a 3x Increase Since 2021
  • Databricks Agrees to Acquire Arcion, the Leading Provider for Real-Time Enterprise Data Replication Technology

Credit Bureau News:

  • CIC Grants Advanced Tier Accreditation to CIBI Philippines
  • Nova Credit Raises $45M Series C Financing to Scale Cash Flow Underwriting and Verification Solutions Across the Credit Industry
  • Experian Has Announced its Partnership with what3words
  • Experian, MTN’s Chenosis Sign Partnership Pact 
  • Equifax to Expand I-9 Anywhere® with New Virtual Option
  • TransUnion Unveils Integration with AWS Entity Resolution

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

Best regards
Joachim C Bartels
Co-founder, director and Editor-in-Chief