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Equifax Partners with Consents.Online to Develop Open Banking Solutions

Equifax, the consumer and business insights expert, has formed a strategic alliance with consents.online, a digital consent management and AISP accredited Open Banking platform which for the first time allows UK consumers and small businesses to manage the sharing of their financial information. The alliance has been established to develop solutions for the UK’s Open Banking initiative which gives online ... Read More »

CIBIL Credit Score Now Available Free Online on WhatsApp

Wishfin, a Fintech startup, has integrated with Whatsapp to launch a new product called ‘Whatsapp for Credit Score’.  As a result consumers can now get CIBIL credit scores on Whatsapp. In India, credit scores are provided by credit bureaus like CIBIL, Equifax, and Experian. However, the most common are the credit scores provided by CIBIL. A CIBIL credit score, like ... Read More »

Callcredit launches Ireland’s first multi-bureau data solution

Building on the success of their established UK platform for multi-bureau processing, Callcredit have launched their unique multi-bureau data solution in Ireland. Combining data from multiple sources, including the Irish Credit Bureau (ICB) and the more recently-formed Central Credit Register (CCR), the solution is the first of its kind for lenders operating in Ireland. It provides data from multiple sources ... Read More »

Analytics: Four in Five Businesses Investing in Advanced Analytics

New report from Experian reveals four strategic priorities for businesses Experian has identified four key priorities for businesses in an evolving market place, all influenced by technology and consumer experience. Organisations are targeting investments in data technologies to boost growth.  Experian’s Business Review found companies are shaping their strategies around: data and analytics; customer insight and customer experience; fraud and ... Read More »

TransUnion Completes Acquisition of iovation

TransUnion (NYSE: TRU) has announced that it has completed the acquisition of iovation, one of the most advanced providers of device-based information in the world, strengthening its leadership position in fraud and identity management. iovation pioneered the device intelligence industry and provides a highly advanced digital device reputation consortium, with insight into nearly 5 billion unique devices from more than 35,000 leading ... Read More »

Paytm Makes Inroads Across Rural India

Mobile wallet company Paytm said its service was now used in 300,000 villages in its home market of India, a statistic it attributes partly to the success of the country’s digitization drive. In a blog, it also revealed its merchant network in small towns had grown to more than 3 million retailers, which registered similar transaction sizes as peers in ... Read More »

Equifax Avoids Fines in Deal with U.S. States over Data Breach

Equifax Inc (EFX.N) avoided fines in a deal with eight states’ banking regulators over a data breach that compromised sensitive data of more than 145 million people, as the credit reporting agency agreed to tighten up security. Equifax’s disclosure of the cyber attack in September 2017, one of the largest to date, prompted the ouster of top executives.  Former Chief ... Read More »

China’s Private Sector Credit Information Services: The Baihang Story

Three years after eight commercial firms were granted permission by the People’s Bank of China (PBOC) to start their pilot programmes in operating personal credit information systems in 2015, none of them have received a license. Instead, they have now become shareholders and active contributors to a new unified platform that has access to an enormous number of personal credit ... Read More »

FICO Offers Free Cybersecurity Ratings to Companies Worldwide

FICO® Enterprise Security Score aims to raise global cybersecurity effectiveness Highlights: FICO is offering free subscriptions that allow users to access their FICO Enterprise Security Score, a machine learning-based cybersecurity rating service The only security rating that offers self-service network definition to ensure accurate ratings Silicon Valley analytics firm FICO announced that it is offering free subscriptions to the Portrait ... Read More »

FICO Helps Malaysia’s Credit Guarantee Corporation Accelerate and Automate Small Business Lending

Loans issued in days rather than weeks while bad debts reduced to 3 percent of loan book Highlights: Credit Guarantee Corporation Malaysia Berhad (CGC) has launched direct loans to micro, small and medium enterprises (MSMEs) using FICO’s decision management and scorecard technologies Using FICO® Blaze Advisor® for business rule automation, CGC is able to make consistent, accurate and reliable credit decisions. The ... Read More »

Credit Scoring in the Philippines: Getting Ahead of the Curve

CIBI-FICO synergy to elevate credit scoring in the Philippines CIBI Information, Inc.TM (CIBI), and Consumer CreditScore (Phils.) held recently an important event at the Makati Shangri-La Hotel, with the title “Adding Value to Data”.   The purpose of event was to engage key clients in a group discussion on about the role of data in the digital age and acknowledged its ... Read More »

Experian Named as One of the World’s most Innovative Companies

Experian® has been named among the top 100 most innovative companies in the world for the fifth year in a row by Forbes magazine. In the publication’s eighth annual list of the “World’s Most Innovative Companies,” Experian climbed to the rank of 57th and was amongst the top 10 most innovative companies headquartered in Europe. Technology, innovation and new sources ... Read More »

TransUnion Sets Foot in Europe with the Completion of its Acquisition of Callcredit

TransUnion (NYSE: TRU) has announced that it has completed the acquisition of Callcredit Information Group, Ltd., the second largest and fastest growing consumer credit bureau in the U.K., for approximately £1 billion, or approximately $1.4 billion. Founded in 2000, Callcredit is a U.K.-based information solutions company that, like TransUnion, provides data, analytics and technology solutions to help businesses and consumers ... Read More »

Association of Credit Information Providers (ACIP) of Eurasia Launched

Over 100 delegates representing credit reporting industry and regulators from 8 countries (Azerbaijan, Belarus, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Ukraine and Uzbekistan) converged in Azerbaijan in April of this year for the official launch of the Association of Credit Information Providers (ACIP) of Eurasia. This landmark gathering hosted by IFC’s Finance, Competitiveness and Innovation (FCI) Global Practice with the ... Read More »

Credit Bureau at Center of IP Infringement Allegation

A financial technology startup and major credit bureau are locked in a fight, with the former claiming the Korea Credit Bureau violated intellectual property rights on the startup’s technology to allow user verification with a single finger touch on a smartphone. Korean financial technology startup Hankook NFC said it is filing complaints against Korea Credit Bureau, its former business partner ... Read More »

Transunion Opens First Global In-House Centre in Chennai

TransUnion launched a global in-house development centre in Chennai recently, the first off-shore technology hub, to drive growth outside its home market.  The company, which already has its roots in India through CIBIL, said it plans to hire 500 employees for the centre in Chennai in the financial year 2018-2019. “The Indo-U.S. trade relationship is going strong. Cumulative two-way U.S. ... Read More »

Stung by Compliance Costs, Asia Banks Urge Watchdogs to Approve more FinTechs

Regulators need to do more to allow new technologies that could help in the fight against money laundering, as financial institutions are struggling with ever-growing compliance costs, an Asia finance industry group said recently. Banks have been slapped with vast sums for not preventing money being laundered through their accounts, and the call for action comes after Commonwealth Bank of ... Read More »