The purpose of the workshop is to determine whether standardization of data and formats would be of benefit to credit reporting institutions and data users. Standardization is also seen as a facilitator for greater information sharing between private credit bureaus, public credit registries, collateral registries and other government institutions such as National ID databases. This would be in the interest of region-wide efforts to provide Financial Inclusion to SMEs and Microbusinesses. It would also permit exchange of credit data across borders between credit bureaus.
The potential gains from standardization have increased with the move toward paperless, online and digital access for reporting institutions and data users. Standardization would also help service providers develop new products and tools for lenders. As there are capacity challenges in many emerging economies, the standardization of data and data management practices and services could lead to economies of scale for delivery of lower-cost credit information and reporting systems.
The above recommendations came from the recent 2015 Asia-Pacific Forum on Financial Inclusion, hosted by the Philippine Government and organized by the APEC Business Advisory Council (ABAC) which focused on specific issues relating to the development of credit bureaus, credit information and reporting systems and enabling small and medium enterprise (SME) access to finance through improved secured transactions systems. BIIA board and committee members participate in APEC / ABAC Forums.
Included in the discussions will be the experiences from the Indian credit bureau sector and the European Central Bank’s AnaCredit project (analytical credit dataset). AnaCredit is a core set of analytical granular credit data to be shared, on a need-to-know basis, across the European System of Central Banks (ESCB).
BIIA and its regional committee APCCIS have invited a number of renowned industry experts to participate in the discussions:
- Michael Ritter, Head of Central Credit Register at the Deutsche Bundesbank (confirmed)
- Serey Chea, Director General at National Bank of Cambodia (invited)
- JC Parrenas, Senior Advisor, Nomura Securities Co. Ltd. & ABAC Delegate to the APEC Finance and Central Bank Deputies Meeting (confirmed)
- Michael Turner, Founder, President and CEO of PERC (confirmed)
- Tony Hadley, Senior VP for Government Affairs and Public Policy at Experian – Chair of the BIIA Regulatory Committee (confirmed)
- Peter Villa, COO Schufa and Director of BIIA (confirmed)
- Lawrence Tsong, President TransUnion Asia and Director of BIIA (invited)
- Enrico Lodi, General Manager CRIF Credit Services and Director of BIIA (confirmed)
- Peter Sheerin, BIIA – APCCIS* Committee Chair (organizer)
We are looking for a broad discussion of the issue at hand between the experts and other participants.
Who should attend: Leaders from the Credit Bureau Industry, Public Credit Registries, Regulators and credit professionals from the banking, power, water and telecom utilities.
This event precedes the BIIA 10th Anniversary Business Information Industry Conference, which commences on October 29th 2015 at 2:00 pm and ends on October 30th at 5:00 pm.