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Industry Dynamics

Country Risk Climates:  Trends to Keep an Eye On

Burundi – new election deadlines and more violence; China – growing international use of the yuan; Greece – down to the wire; Uzbekistan – unusually volatile black currency market. CANADA:  Extreme weather and the global oil price drop hit the economy in the first quarter. While the weather effect is passing, oil will have a negative influence for some time. ... Read More »

New PERC and TCAI Study: Is CROA Choking Credit Report Literacy

A newly released study finds that implementation of the Credit Repair Organizations Act (CROA) discourages interested consumers from learning more about their credit reports and scores, creating conflicts with other federal laws and public policy objectives. The authors, from the Policy and Economic Research Council (PERC) and Take Charge America Institute (TCAI) at the University of Arizona, examined data from ... Read More »

Employment Screening Reveals Rise in ‘Bad’ CVs

Due diligence specialists are reporting that inaccurate job applications are at their highest levels since 2011, with 63% of CVs containing inaccuracies already this year. Over a third were found to have errors regarding employment history, while 30 per cent featured incorrect claims of professional qualifications or memberships.  The findings come from HireRight’s checking of 26,000 European, Middle Eastern and ... Read More »

Cyber Security: There is No Secure Inside

There is No Secure Inside – So Get the Most from your Firewall Firewalls seem like a fixture of IT security, having been used for more than 15 years in most business environments to protect our internal assets from the hacks out there on the big bad Internet.  Yet too often we read the headlines and hear about another network ... Read More »

Using Unreliable Data Won’t Help Credit Invisibles

American Banker recently published an Op-Ed from Jim Wehmann, head of FICO’s Scores business. In it, he delineates some of the risks associated with the approach being promoted by those claiming that tens of millions of previously “invisible” consumers can qualify for mortgages based on data that exists today in their credit bureau files. An important debate is occurring in the mortgage industry ... Read More »

Commercial Credit Bureau (SCCB) Singapore and Hospital Alliance Singapore to Launch Special Credit Reporting Service

A new credit report has been launched in Singapore to help hospitality firms in their risk management.  The SCCB Hospitality Credit Report is a joint effort by Singapore Commercial Credit Bureau (SCCB) and Hospitality Alliance Singapore (HAS).  It will be made available to members of seven key associations under HAS, benefitting some 80 hospitality firms. According to SCCB, payment performance ... Read More »

Internet Services Market in Russia – Review 2014

According to The Russian Association for Electronic Communications (RAEC), the Runet’s (Russian term for Internet in Russian language) aggregate revenue 2014 is approximately at the level of 2013 amounting to about 14.6 million EURO. The revenue of Internet dependent segments such as Internet access providers, e-commerce etc. has grown from 76 million EURO to 102 million EURO.  According to experts, ... Read More »

Country Risk Climates: Trends to Keep an Eye On

Brazil – putting the inflation fight ahead of economic stimulation; Chile – downward revised predictions; Ecuador – banks now must accept the dinero electronico; Greece – brinkmanship down to the wire. ARGENTINA:  There is less optimism now that whoever replaces Pres. Fernandez in the October elections will be able to liberalize regulations and turn the economy around quickly. Meanwhile, the ... Read More »

Google Brings Indian Business Information Online

A five month trial of the online business registration service Google My Business (GMB) has seen over a million small and mid-size businesses (SMBs) registering in India. With an average of 25,000 businesses signing up to the app each week, the tech giant is hoping to capture the details of some 20 million businesses in the country by 2017. Google’s ... Read More »

Tencent Debuts Micro Loans Product

Data sourced through the Internet to be used for credit assessment WeBank, an online-bank owned by majority shareholder Tencent, has recently launched its first financial product – “micro loans”. The amount of the small loans product is set between RMB 20,000 to RMB 200,000 (US$3,225 to US$32,250) with daily interest rates set at 0.05%. The loan service does not require ... Read More »

Seeing Your Business through the Eyes of a Hacker

Cyberattacks are growing more sophisticated and more damaging, targeting what companies value the most: their customer data, their intellectual property, and their reputations. What these attacks, together with breaches to defense, law-enforcement, and military-contractor networks, reveal is that our cyber-security efforts over the last two decades have largely failed, and fixing this will require the attention not only of security ... Read More »

Credit Management:  Internal Knowledge of Country’s Culture Key to Success in Global Business

When considering expanding into the international market, it is essential for credit professionals to have a clear understanding of the values and cultures of a country’s business environment. That was a key takeaway during the breakout session, “Going Global,” at NACM’s 119th annual Credit Congress in St. Louis from May 17-20. “It’s culture, communication, regulation and currency,” said Gent Culver, ... Read More »

Callcredit Launches DeviceRisk to Protect Customer Enrolments

Callcredit Information Group has launched DeviceRisk which will be immediately available via its flagship Fraud and ID solution, CallValidate.  Powered by the risk solution from anti-fraud company iovation, DeviceRisk captures information relating to the device used by a consumer during any interaction and returns critical information in real time to highlight any risk associated to that specific device. Devices such ... Read More »

Outsell Report: IBM Watson, a Hammer in Search of Nails

Outsell Inc. has published a report on IBM’s computer system ‘Watson’  Outsell’s Simon Alterman, VP & Lead Analyst comments on this new era in computing. A system that will change the relationship between man and machine.  A computer system that appears to reason in the way humans do, simulating the workings of the brain. This is not the realm of ... Read More »

Yelp Seeks Buyer Amid Slow Growth & Rising Costs

Yelp Inc. is exploring a sale as the company at the top of many Internet search results struggles to post strong growth with users and advertisers. The San Francisco-based site was willing five years ago to go it alone despite an acquisition offer from Google Inc.  Today, it is working with investment bankers and sounding out potential buyers, people familiar ... Read More »

Russia Intends to Launch a Bad Debt Bank

The Russian Government is reconsidering the idea to launch a bank for bad debts. Such a financial institution will buy distressed assets of banks as well as debts of corporations. The new institution will become a brand new instrument created for resolution of debts that are classified as difficult to collect. In Europe and in the USA similar financial institutions ... Read More »