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Machine Learning a Route to Smarter Fraud Prevention

Use of machine learning to double amongst fraud professionals as they shift to smarter tactics New research launched recently by Callcredit Information Group found that the number of fraud professionals planning to use machine learning to tackle fraud in the next three years has doubled from 11% last year (2016) to 22% in 2017.  In comparison, the number planning to ... Read More »

Creditinfo and dataminingapps.com in Co-operation

Creditinfo and www.dataminingapps.com have agreed to work together to conduct research into the predictive nature of location and mobile call data to enhance the ability to increase access to credit for the unbanked. With more than 2 billion people in the world without formal banking and access to credit it is important innovative methods are found to introduce people to the formal sector. ... Read More »

TransUnion Launches Mobile Credit Platform in Rwanda

TransUnion Africa, a provider of global information solutions for assessing and managing risk, has launched Menyesha, a mobile credit reporting platform, to cater to the Rwandan market. Menyesha, literally “Inform Me” in Kinyarwanda, represents a leap forward in the way this historically underserved – but rapidly digitising – population can interact with lenders and other financial service providers. Using SMS ... Read More »

Australian Comprehensive Credit Reporting Scheme Attacked

Concerns are raised by Consumer Groups that new credit reporting scheme will penalize people struggling with debt Federal Government plans to force Australia’s big banks to give credit agencies more detailed information about customers’ financial behaviour could penalise the poor, consumer groups have warned. Treasurer Scott Morrison will mandate the comprehensive credit reporting (CCR) regime for the Commonwealth Bank, ANZ ... Read More »

Nova Credit in the News

Described as an Alternative Credit Agency in this article, Nova Credit Lets Immigrants Bring their Credit History With Them Millions of immigrants enter the United States lacking something important for success: a documented financial history or credit score. Unable to prove their reliability to lenders, they find it harder to rent an apartment, lease a car, or get their first ... Read More »

Equifax Q3 2017 Revenue Up 4% – US Information Solutions Down 3%

The company reported revenue of $834.8 million in the third quarter of 2017, a 4 percent increase compared to the third quarter of 2016 on a reported basis and 3 percent on a local currency basis.  Third quarter diluted EPS attributable to Equifax was $0.79, down 28 percent compared to the third quarter of 2016.  Net income attributable to Equifax of $96.3 million was down ... Read More »

FinTechs Taking Larger Share of Personal Loan Market While Increasing Portfolio Risk-Return Performance

New TransUnion study features personal loan performance of recent vintage loans FinTech lenders continue to gain market share in the personal loan space while maintaining their portfolio risk-return performance.  Results from TransUnion’s “Fact versus Fiction: FinTech Lenders” study were released during the Digital Lending + Investing Conference in New York. To better understand the personal loan market, TransUnion studied unsecured personal loan ... Read More »

Equifax Names Scott McGregor as New Independent Director

Equifax Inc. (NYSE: EFX) announced that Scott A. McGregor, the former Chief Executive Officer of Broadcom Corporation (NASDAQ: AVGO), has been appointed to the Board of Directors.  He will also serve on the Board’s Technology Committee.  The Equifax Board now consists of 11 directors, all of whom are independent.  “We are very pleased to add Scott McGregor—an exceptional leader with broad ... Read More »

Comprehensive Credit Reporting Takes Hold in Australia

National Australia Bank (NAB) will be the first major bank to share positive and negative credit information about its customers with credit bureaus, saying it will start to roll out comprehensive credit reporting by next February. NAB’s move, which will increase the amount of information held by companies like Equifax (Veda), including credit limits and loan repayment histories, will intensify ... Read More »

Macau Gaming and Entertainment Promoters Considers Central Credit Database

The Macau Association of Gaming and Entertainment Promoters – a trade organization for the Macau government-licensed firms that lend stake money to VIP gamblers visiting the city – says it is “not giving up” its plan to establish a central credit database to track credit issued to individual players. The association wants to press forward despite having no feedback from ... Read More »

News from the BIIA 2017 Biennial Conference

Melanie Zimmerman, SVP at TransUnion (picture), told us an inspiring story #BIIA2017 about an initiative in India that signed up 95% of the population, many of them illiterate, with a 12-digit ID number via their mobile phones, which automatically included a bank account, and the chance to buy life insurance (for $5/year). So now the government has a population count, ... Read More »

Credit Karma Adds Equifax to its Flagship Free Credit Monitoring Service

Personal finance company is the most comprehensive free U.S. online credit monitoring service Credit Karma announced it is adding Equifax to its flagship free credit monitoring service.  For the first time, Americans will be able to have two major credit reports monitored proactively for free, which can help them manage their credit health or stay alert of possible signs of ... Read More »

KSV1870 Opens New Office in Salzburg

More than 100 guests from the business and political community attended the opening of the new office location at the Hellbrunner Straße 15 in Salzburg’s capital at the invitation of KSV1870 President Mag. Dr. Roland Wernik, MBA. KSV1870 Managing Director Mag. Ricardo-José Vybiral, MBA spoke about the current business and credit conditions in the Austria in general and in the ... Read More »

BIIA Welcomes Credit Bureau Malaysia as a new Member

We opened our doors to a bright and beautiful morning on 1 July 2008. As SME Credit Bureau, we’ve helped many SMEs get access to better financing. When the Credit Reporting Act 2010 was introduced, we became Credit Bureau Malaysia and expanded our market to include helping individuals. Credit Bureau Malaysia collects and compiles credit information from various sources. We ... Read More »

BIIA Welcomes Credit Bureau (CBC) Cambodia as a new Member

Credit Bureau Cambodia (CBC) is the leading provider of financial information, analytical solutions, and credit reporting services to financial institutions and consumers in the Kingdom of Cambodia. CBC was established in March 2012 with strong support from multi stakeholders such as the National Bank of Cambodia, the Association of Banks in Cambodia, the Cambodia Microfinance Association, and the International Finance ... Read More »