The mission of BIIA is:
- Provide a neutral open forum for its members to debate and resolve common issues with users, regulators, government and the public information sector
- Promote the industry by demonstrating the value of information for users and national economies as a whole
- Inform the industry, users and the general public by serving as a resource on standards, trends, technological developments, and policies
- Protect the industry by advocating a legal regulatory environment that benefits the industry
- Provide a platform for networking for industry members
In line with its mission BIIA held several user forums (2005 / 2006 / 2008 and in 2011) in which members from the user community, regulators, academia met with information industry executives to discuss critical issues concerning the role of business information in business decision processes.
BIIA represents it members in international standards and regulatory meetings. For example BIIA participated in a taskforce co-chaired by the World Bank and the Bank for International Settlement to develop general principles for credit reporting for the financial services sector.
These general principles are intended for policymakers, regulators, financial supervisors, credit reporting data providers, credit reporting service providers, the users of such services, and individuals and businesses whose credit histories and identification data are stored in these systems (the latter two are referred to as “data subjects” throughout the report). In addition to the principles, the Task Force has also developed a set of specific roles, one for each of the stakeholders in credit reporting systems, as well as recommendations for effective oversight of credit reporting systems. The principles were unveiled for the first time in a public forum at the World Bank / IFC Financial Infrastructure Week 2011 in Rio de Janeiro, Brazil on March 15th2011.
BIIA and its members collectively represent an industry position as expressed by its code of conduct, best demonstrated practices and a self-regulatory framework.