Creditinfo combats Synthetic Identity Fraud for the Kenyan mobile lending market
PRESS RELEASE
According to a recent article by Mckinsey, many fraudsters are now using fictitious, synthetic IDs to draw credit. Applying for credit using a combination of real and fake, or sometimes entirely fake, information creates synthetic IDs. The act of applying for credit automatically creates a credit file at the bureau in the name of the synthetic ID, so a fraudster can now set up accounts in this name and begin to build credit.
Creditinfo Group wins contract with Central Bank of Oman for the Implementation & Support of Oman Credit Bureau “OCB”
PRESS RELEASE
Creditinfo joins forces with Central Bank of Oman (CBO) to implement a world class Credit Bureau in the Sultanate
PRESS RELEASE: Know your credit score to make better informed financial decisions
PRESS RELEASE
DPI, Guyana, Thursday, November 22, 2018
– all lending agencies are mandated by law to share all credit data with the credit bureau
– “a lender cannot pull your credit report without your consent”
– know your credit score – it prevents over-indebtedness and encourages responsible borrowing and brings stability to the financial sector
– credit bureau was established in 2013 and operates under the Credit Report Act of 2010 and the Credit Reporting [Amendment] Act of 2016
Guyana – Successes driven by One Creditinfo at Work
Creditinfo from data provider to trusted industry leaders; a case study from Guyana
Ben Riley, Global Consultant Creditinfo and David Falconer, Sales Manager Creditinfo Guyana
In many ways the country of Guyana is unique. Considered part of the Caribbean region even though it is on the South American mainland. The only English speaking country in South America more interested in cricket than football. On the lowest population density countries on earth (just behind Iceland) but with 30% of that population residing in the capital city of Georgetown. However in the area of Credit, Guyana is proving again that a Creditinfo Credit Bureau can by the driving force behind market development and the opening up of affordable credit to all.
Consumer lenders in Latvia obliged to exchange full positive credit history via Credit Bureaus
PRESS RELEASE
Changes in Consumer Protection Law adopted by Saeima (Latvian Parliament) obliging consumer lenders to exchange positive credit information about consumer and to use this information in assessment of creditworthiness is a positive step, said “Kredītinformācijas Birojs”.
Creditinfo Estonia celebrates the 25th anniversary
Creditinfo Estonia – the oldest company in the Creditinfo Group – celebrates the 25th anniversary this year. Creditinfo Eesti AS was established in 1993 (operated under the name Krediidiinfo AS until December 2016). Many years’ experience has helped the company to become the largest and most professional Estonian supplier of credit information.
Creditinfo Estonia has been a loyal long-term partner to Estonian companies helping them to make smart and intelligent business decisions. Creditinfo Eesti AS is the Estonian market leader in the sector of information collection, processing and intermediation.
On 17th of October, Creditinfo Estonia celebrated its 25th anniversary with the clients in a client-conference: Creditinfo 2.0.43. Our goal was to look back to the eventful history, and to begin with the creation of a new version of Creditinfo Estonia for the next 25 years – Creditinfo, version 2.0.43!
The main topics of the conference covered the preview into the next years – possibilities of using alternative data solutions in credit ratings and cross-border data exchange, we talked about innovations and advances in data ecosystems and analytics. Additionally, we took a closer look into what is happening in the credit-industry in the world.
The conference was a perfect thank you gesture for all the clients, who are the roots of our success. Trust and loyalty from the clients give us the inspiration and courage to create innovative solutions impacting the business and social environment around us.
THE CREDITINFO STORY – a real story about a really good company
Today is a special day as we have a movie premiere to announce: THE CREDITINFO STORY – a real short documentary about Creditinfo, or Creditinfo philosophy to be exact, and all of this through the eyes of the company’s founder and Chairman of the Board, Reynir Gretarsson.
The Creditinfo Story is a genuine documentary telling an authentic business story, that started back in 1997. It includes flashbacks on how the business was founded, reminds of what its roots were and displays the core if its DNA, which remains unchanged.
You are welcome to check it out right here.
Creditinfo to power Azerbaijan’s First Credit Information Bureau
Baku, Azerbaijan, April 19, 2017 – IFC, a member of the World Bank Group, over 20 local financial institutions and Creditinfo have teamed-up in launching Azerbaijan’s first private credit bureau to enable local financial institutions to better share credit information, manage lending risks, and boost access to finance for borrowers, including SMEs.
Central Bank of Iraq to start online credit information exchange
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.
Interview: the President of the Azerbaijan Banks Association about the credit bureau in Azerbaijan
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.
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