Neil Munroe, Managing Director and Peter Sheerin, Executive Committee Member were pleased to see so many members of BIIA at the International Committee on Credit Reporting (ICCR) and at the Asia Pacific Regional Consultative Group (RCG) meeting held in Bali, Indonesia on the 24th October.

65 representatives from regulators and credit reporting providers in the Asia Pacific region were present at the meeting which shows the importance of the topic in the region.

BIIA played an active role in the organisation of the event  utilising its extensive network of contacts in the region to invite the relevant regulators and credit reporting providers.  

Neil Munroe who is also Deputy Chair of the ICCR, chaired the RCG meeting which discussed key topics relevant to the credit reporting industry in the region including the use of alternative data, buy now pay later finance and credit reporting, the use of new technology in credit scoring and cross border data sharing. Peter Sheerin also participated in the panel that discussed cross border data sharing.

Following the success of the event further Asia Pacific Regional Consultative Group meetings are planned which will take place twice a year. BIIA as the trade association for the information industry in the Asia Pacific region will be taking an active part in planning and running these meetings.

On the following day members of the RCG were invited to attend the Fall Plenary Meeting of the ICCR which was chaired by Neil Munroe, in the absence of the Chair of the ICCR, Jean Pesme. Welcoming remarks at the Plenary meeting were provided by the Deputy Governor of the Bank of Indonesia.

Source: International Committee on Credit Reporting (ICCR)

International Committee of Credit Reporting (ICCR) Fall Plenary Meeting 2023

The Central Bank of Indonesia hosted the International Committee of Credit Reporting (ICCR) Plenary Meeting for the first time in history in Nusa Dua, Bali (25/10). This forum is a regular meeting forum for ICCR member countries, an international committee under the World Bank whose role is to develop international standards related to credit reporting. ICCR committee members are some of the countries that are members of the G-20, which expanded by involving authorities and associations from other countries outside the G-20, with the number of members in 2023 as many as 24 institutions (18 authorities and six associations).

ICCR Fall Plenary Meeting 2023 was held on October 25, 2023, in Nusa Dua, Bali. These meetings were attended by 79 participants representing credit data management authorities, associations, and private credit bureaus from 19 countries. The event was opened by Neil Monroe, Deputy Chair of ICCR, then continued with welcome remarks from the Chief Executive of OJK Banking Supervision, Mr. Dian Ediana Rae, as well as a keynote speech from the Deputy Governor of Bank Indonesia, Mrs. Filianingsih Hendarta, raising the topic “Role of Bank Indonesia in Credit Information Management”.

BI and OJK have continued to synergize in managing credit information, including the flow of SLIK data from OJK to BI which is utilized for macroprudential policymaking. Credit data in the form of SLIK data obtained by BI is integrated to provide added value, quality, governance, and analytically processed data to support BI policies. In this event, Mrs. Filianingsih Hendarta also mentioned that BI remains committed to stimulating bank lending/financing on the supply side to accelerate sustainable economic growth, including inclusive sectors, such as MSMEs and UMis.

The meeting was opened by Neil Munroe, Deputy Chair of ICCR, and continued with welcome remarks by Chief Executive of Bank Supervision OJK, Mr. Dian Ediana Rae. This forum was held by the collaboration of Bank Indonesia, OJK, and ICCR Secretariat, and attended by 79 delegate participants from credit authorities and registries, associations, and private credit bureaus from 19 countries. ICCR consists of several countries that participate in G-20 and developed with including other authorities and associations, currently, the number of members are 24 institutions (18 authorities and 6 associations).

The topic of discussion at the ICCR Plenary Meeting was not only related with credit reporting international guidelines/standard but also discussed regarding current issues related to credit reporting, including (1) The Cost and Benefits of Implementing Artificial Intelligence (AI) in Credit Scoring; (2) Empowering the Role of Credit Reporting System (CRS) to Strengthening Financial Stability; (3) Expert Presentation related to Strengthening CRS in Expanding Financial Access to MSMEs and Women; (4) Strengthening the Effectiveness of Credit Information Sharing development; and (5) The Role of Credit Scoring in Supporting Environmental, Sustainability and Governance (ESG).

Beside the main event, the Asia Pacific Regional Consultative Group (AP-RCG) also carried out on 24 October 2023 as well as the Regulatory Forum on 26 October 2023. The AP-RCG Forum in Bali was the first forum held for the regional area to be a discussion media for regulators and industry in Asia Pacific countries regarding credit reporting and as a bridge between ICCR and PCR, PCB, and related industries in regional areas that are not ICCR members. The regulatory forum related to credit reporting was also held for the first time, to share information and experiences between regulators, especially regarding the use of credit data to fulfill the needs of authorities and supervision of the credit reporting industry.

Source: Bank of Indonesia/OJK