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Creditinfo Lauches Risk Analytic Product IFRS 9

We are proud to launch Creditinfo’s new IFRS products created by Creditinfo Global Solutions. These products meet the extensive market demand from the Credit Industry, due to the obligation for all to comply with IFRS reporting requirements starting this year. Our offer will enable clients to meet a regulatory requirement in a cost effective way, using Creditinfo Credit Bureau data alongside ... Read More »

Cedar Rose Highlighted as One of Europe’s Best in First Ever ‘Ones to Watch’ list

Cedar Rose has been named as ‘One to Watch’ in Europe in a list of business excellence published by the European Business Awards sponsored by RSM.  Cedar Rose was chosen as it demonstrates exceptional achievement in Digital Technology – and reflects the programme’s core values of innovation, success and ethics. The ‘Ones to Watch’ for all countries across Europe can ... Read More »

Chinese Bank Lending Hits Record On Corporate Finance Demand

Chinese banks provided $169.27 billion in new loans during the month, the publication said, citing data from the People’s Bank of China. That figure surpassed analysts’ expectations, especially considering China’s efforts to reduce risk tied to a surge in corporate debt.  An earlier survey from Reuters found analysts predicted new yuan loans in November to hit 800 billion, up from ... Read More »

US Senators Demand Unrealistic Penalties for Data Breaches

Two senators on proposed this week “massive and mandatory” fines for data breaches at Equifax Inc. and other credit reporting companies, starting at $100 for each consumer whose sensitive information is compromised. The bill from Sens. Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) would add a $50 fine for each additional piece of compromised personally identifiable information for each consumer. ... Read More »

BIIA Regional Meeting Phnom Penh, Cambodia

Save the Date:  BIIA Regional Meeting – March 14th to 15th, 2018; Phnom Penh, Cambodia BIIA will be hosting its first regional meeting to discuss key issues and concerns relevant to the industry and to lead efforts to promote dialog, identify solutions and to facilitate the development of potential pathways forward. The meeting will be a two day event, held ... Read More »

Ant Financial Says Sorry Over Illegal Data Sharing

Ant Financial has apologized for a checked-by-default option on Alipay’s an­nual bills that allowed its credit scoring system to access user data. Alipay bills and the Annual User Footprint Report that analyzes how customers have spent their money over the past year are widely shared on China’s social media. People tend to show off their purchasing power, especially as the ... Read More »

China Fintech: 2nd Consumer Credit Bureau in Sight Now

On January 4, the People’s Bank of China (PBoC) accepted a license application for consumer credit bureau led by the National Internet Finance Association of China.  The name of the credit bureau is Baihang Credit Scoring. As of now, the Credit Reference Center of the central bank is the only consumer credit bureau in China. Lending has always been the prerogative of ... Read More »

Vietnam State Bank Launches Data Management System

The National Credit Information Centre of Việt Nam (CIC) under the State Bank of Việt Nam (SBV) on December 7 launched a data management system – CG1 contract.  The contract was jointly carried out by Vietnamese FPT IS and Singaporean DP Credit Bureau Pte Ltd.  It is part of the Financial Sector Modernisation and Information Management System (FSMIMS) project sponsored ... 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 »

US Credit Climate: 2018 TransUnion Consumer Credit Forecast

Consumer Credit Market Expected to Remain Strong in 2018 Even in a Rising Rate Environment. TransUnion forecast finds mortgage loan delinquency rate may reach lowest level since 2005 In spite of rising interest rates, the U.S. consumer credit market is poised to perform well in 2018, with well-managed delinquencies and continued wide access to credit across all products. TransUnion’s (NYSE: ... Read More »

China Continues Its Quest for A Credit Ranking System

China is on the hunt for a homegrown alternative to the U.S.-based FICO score credit ranking system as it attempts to keep up with the rapid expansion in consumer loans being offered through mobile. Lacking such a single system, online lenders instead use a patchwork of methods to assess consumer credit worthiness, including things like online questionnaires and analysis of ... Read More »

China: People’s Bank of China Sets Up Credit Reference Platform for Alternative Lending Transactions

In order to tighten regulations on personal borrowings from alternative lending platforms, the People’s Bank of China, China’s central bank, has made plans to launch a platform by the end of 2017 for collecting personal credit information to assess credit ratings of people using alternative lending platforms. Over the past year, the intense expansion of consumer loans (mostly from online ... Read More »

Is it Still Possible to Live with Bad Credit History?

Credit is a hugely important part of the global economy and also has a major effect on the quality of individual’s personal and professional lives – from making everyday purchases with credit cards to borrowing larger sums for investing in vehicles, homes or businesses. The world is governed by budgets and pay checks, and people frequently require credit to meet ... Read More »

Callcredit Steps Up Investment in Lithuania and Appoints New Country Manager

Data, analytics and software business Callcredit Information Group has appointed Eglė Šimė as its new Country Manager. At the same time it has reaffirmed its commitment to Kaunas, signing a new lease for increased space at its current location in the Žalgirio Arena. Eglė will be responsible for the running of Callcredit’s Lithuanian operations and the development of new specialist ... Read More »

Fintech Company Rubique in Partnership with TransUnion Cibil

Rubique Ties up with CIBIL to Allow Easier Access to Credit Score Checks Fintech company Rubique has announced its partnership with CIBIL, India’s premier Credit Information Company (CIC) to provide credit scores and valuable insights on its platform, thereby increasing the transparency in the conventionally-opaque credit-seeking process for its users. This is the first ever tie-up for CIBIL with a ... Read More »