Recently 14 microfinance institutions joined Creditinfo Registr as Early Adopters and the bureau holds records on more than 50 000 contracts and 40 000 individuals. This number is rapidly increasing, as more data and especially – more information sources – are to be connected to the bureau in the nearest future.
According to Managing Director, Tesa Vitelj, this is an important step for the Czech credit system as the Creditinfo Registr is the first registered bureau in the Czech Republic accounted for novelization of Consumer Protection Act, hosting data exclusively from microfinance institutions at this date, which are amongst the most active and dynamic financial institutions in the country.
Analytics drawn from using MFI data are extremely valuable and will be shared with the members of the bureau as well as the market itself on regular basis. Creditinfo is building a Next Generation Credit Bureau and will not be limited to microfinance companies but also encompass data from telco’s, leasing, utilities, online retailers and banks. Furthermore, the registry will be fully prepared for GDPR in May 2018.
Considering the fact that Creditinfo has been operating in the Czech Republic since 2006 and providing international credit risk management analytics, consultancy and software solutions worldwide, Mrs. Vitelj stated that the implementation of Creditinfo Registr was a logical step forward and that today Creditinfo can consider Czech Republic as a home market where the global company also operates and manages local credit data.
Source: Creditinfo Chronicle