Big news for the economy of Azerbaijan: on 7 December 2016, the President of the Republic of Azerbaijan signed the Decree on implementation of the Law on Credit Bureaus, which will be the foundation of credit bureau operations in the country. Continue Reading..
On Tuesday, December 6th, the Central Bank of Iraq announced the launch of online exchange of information between the banks via a credit bureau system. The system, named CBS5, is provided by Creditinfo, who won an international tender initiated by WorldBank. The credit bureau system was built from scratch in only 10 months, including transfer of know how and financial institutions’ education and training in risk management. According to the Central Bank’s official press release, from now on this solution will enable a fast and reliable way to share credit information between government and private banking institutions. The implementation of a modern credit bureau system will contribute in increasing the efficiency of risk assessment in order to make sound credit decisions.
Zakir Nuriyev, the President of the Azerbaijan Banks Association, mentions the benefits of the establishment of a credit bureau in Azerbaijan in his interview for Banco.az. He states that along with banks and non-bank credit institutions, the credit bureau will process much more information on payment behavior than only information on loans. The credit bureau information will include individual, insurance, leasing, telecommunication as well as utility companies’ data, thus allowing to gather more information about borrowers, such as whether they actually pay phone bills, water or electricity invoices.
Creditinfo Solutions is celebrating its 10th anniversary. A decade ago, on 1st December, 2006, we opened our doors, not knowing what was about to happen. Since then, we have grown from just a couple of employees to in excess of 100 employees. The company’s initial focus working with just local clients changed after a short period of time. Creditinfo Solutions, with the support and backing from our parent company, Creditinfo Group, soon began to successfully sign a number of sizeable deals to deliver credit bureau solutions in Sudan, Tanzania, Afghanistan, Iraq, Indonesia, Latvia and South Sudan. Now, our clientbase spans more than 40 countries around the world.
Financial Technology is often seen as a sector that works for those who are already winning: something to help sophisticated users of personal and commercial finance streamline their access. It performs that function, of course, and many of us have seen our professional and personal lives enriched as a result. But FinTech also has an essential role to play in opening access, as well as improving it.
At Coremetrix, we are committed to realising that potential. Part of the Creditinfo Group, we believe data on individuals – obtained voluntarily, and focusing on personality rather than the information used for traditional credit scoring – can broaden access to financial products of all kinds. Lenders and other financial institutions across international markets agree with us, and we are partnering with a number of them to provide access to credit and other services based on who people are, not what they can prove.Continue Reading..
Starting today the largest provider of business information in Estonia – Krediidiinfo AS has been renamed to Creditinfo Eesti AS and will start using the corporate trademark Creditinfo. The change of name relates to the fact that at the beginning of this year 100% of company’s shares have been acquired by Creditinfo Group, the international credit information and credit risk management services provider.
The Banking Forum in Baku, Azerbaijan, organized by the Azerbaijan Banks Association, focused on the challenges and perspectives related to the development of the banking system in post-oil period and covered the benefits of opening a credit bureau in the country. This major industry event took place on the 24th and 25th of November, 2016.
Creditinfo Academy invites you to a “Trade Credit Decision Making” webinar. On February 9th 2017, 15:00 CET, Andryi Sichka, Managing Partner of Credit Engineering and Development Director of The Association of Credit for Central and Eastern Europe will share with you his insights on the topic.
The First Credit Bureau’s experts and the partners companies have presented the main trends of the lending market and innovations in the banking sector during the Risk Challenge 2016: Big Data Big Money – the largest banking conference in Kazakhstan. The annual event Risk Challenge brings together all participants of the financial market to discuss and exchange views on major issues of the financial sector.