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Commercial Credit Reporting

Availability and Access to Credit Information in Russia

There are 17 credit bureaus operational according to the State Register of Credit Bureaus maintained by the Central Bank of Russia.  Article 6, Provision of a credit report of the Federal Law No.218-FZ On credit histories of December 30, 2004 (as amended on July 3, 2016), regulates the provision of credit histories (credit information) in the form of a credit ... Read More »

FICO: Your Company’s Cyber Score Will Be as Important as Its Credit Rating

Cybersecurity Predictions 2018: Cyber Scores and Stolen Eyes “The more things change, the more they stay the same.” That 1849 quip from Jean-Baptiste Alphonse Karr somehow seems fitting for today’s cybersecurity industry. In 2017 we saw massive change in the speed, creativity and magnitude of attacks — yet the industry plodded along on important issues such as timely data breach disclosures. ... Read More »

Russian Risk Climate:  State Financial Support and Improving Information Transparency will Facilitate SME Access to Favorable Funding

«Program 6.5%». The Russian Corporation for the Development of Small and Medium Sized Businesses launched, in 2015, a funding program in association with 31 banks.  The program entails the provision of funding in the range of US$ 175,000 to US$ 17,500,000 at an interest rate of 10.6% for small businesses and 9.6% for medium businesses.  This compares favorably with current ... Read More »

Company Data – The Full Picture for Legal Professionals

Following the Panama Papers scandal, introduction of the PSC register, and increasingly complex ownership structures, Chris Bull talks to Roger Carson Roger Carson, co-founder of Encompass Corporation and Wayne Johnson, CEO and Co-Founder, Encompass Corporation, about why getting a grip on company data has been so critical. The leak of the Panama Papers serves as a forceful reminder to corporate ... Read More »

Philippines’ CIC to Collect Telco Clients’ Credit Data

State-operated Credit Information Corp. (CIC) has ordered telecommunications firms to submit subscribers’ basic credit data by year end in order to come up with a centralized and comprehensive credit information system in the country. Telecommunication companies must submit by Dec. 31 data subject and contract data. This is a great win for Transparency, Financial Inclusion and for Economic Growth in ... Read More »

Commercial Credit Information in Spain: An Overview

INFORMA D&B provided recently an overview of the roles of commercial credit and commercial credit reporting to a group of international credit professionals and central bankers.  The presentation contains details of the impact of credit on the national economy of Spain and answered the question “What is Commercial Credit Information used for? Find and gain knowledge about companies and their ... Read More »

Forget Microlending! India Needs Basic, Competent Credit Reporting

According to and article in Businessweek, K. C. Chakrabarty, deputy governor of the Reserve Bank of India, offered in recent speech an additional way to expand credit:  Better credit reporting.  No shepherds with phones, no happy mothers of four with new sewing machines.  Just credit reporting, plain old attention to detail, and administrative competence.  Chakrabarty indicated that it would help ... Read More »

Australian Risk Climate: New Legislation a Game-Changer for Commercial Risk Management

New Comprehensive Reporting legislation will add significant value to the assessment of the commercial risk of small businesses”, says Veda’s General Manager – Commercial Risk Products, Moses Samaha.  Speaking at a recent Veda road show to more than 150 Trade Credit businesses, Samaha urged creditors to also assess the credit profile of the directors and proprietors behind a company or business ... Read More »

China Regulates Credit Information

According to a press release of the Legislative Affairs Office of the People’s Republic of China, Premier Wen Jiabao, presiding over a State Council executive meeting, examined and adopted the “Credit Management Ordinance”. The legislation covers consumer and commercial credit information and took several years of extensive consultation between the Legislative Affairs Office of the State Council, the People’s Bank ... Read More »

Commercial Credit Information: Imperatives for Sharing of Payment Data

A recent survey of the US based National Association of Credit Management (NACM) revealed that 46% of respondents did not share trade payment data with commercial credit information companies (Credit Professionals Split on Sharing A/R Data).  BIIA’s Board Member and Contributing Editor Phil Cotter examines the reasons behind the aversions to share trade payment data and what can be learned ... Read More »

Financial Disclosure or Communication – A Necessity for Small and Midsize Companies

Financial disclosure and regular shareholder communication are requirements for large enterprises.  The customary glossy annual reports and quarterly statements give the impression that such practices are reserved for capital corporations only. Small, and in particular medium-sized companies generally believe that such practices do not apply to them.  To the contrary, small and medium size enterprises should adopt disclosure and communications ... Read More »

World Bank Issues General Principles for Credit Reporting

The World Bank, in collaboration with the Bank for International Settlements (BIS), the IFC (International Finance Corporation), various central banks and members of the information industry represented by ACCIS (Europe), BIIA (Asia Pacific), CDIA (USA) and the Latin American Credit Reporting Association, has been working on developing universal standards for credit reporting.  Following a six months consultative period the World ... Read More »

Asia: Demand for Experienced Risk Management Professionals is Soaring

The increasingly sophisticated regional business environment has created a huge demand for risk management professionals with banking and financial knowledge, analytical skills.  Although local universities provide education in accounting, banking and finance, the programs do not cover risk management and issues related to trade credit granting and collection management. IRmc’s Dr. Stanki Yuen, CEO of International Risk Management Consultants based ... Read More »