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Equifax Partners with Digital Matrix Systems

Equifax announced a Partnership with Digital Matrix Inc. to Introduce Credit Score Alternative for Auto Insurance Equifax announced a relationship with Digital Matrix Systems, Inc. (DMS) to introduce a new, innovative credit score alternative for the auto insurance industry.  The risk evaluation tool will enable insurers to reduce risk exposure, reduce acquisition costs and simplify the customer quote process. Compare.com, an auto insurance ... Read More »

PERC Study on Expanding Credit Access for ‘Credit Invisibles’

Fully Reported Utility and Telecommunications Payment Data Could Expand Credit Access for “Credit Invisibles,” PERC Study Finds Using fully reported utility and telecommunications payment data (timely and late payment information) in credit reports and credit scores could expand credit access for significant numbers of Americans with thin or no credit files while decreasing credit risk for lenders overall, according to ... Read More »

Australian Risk Climate: 772,000 Victims of Identity Theft

Online black market is closer than you think with 1 in 5 Australians affected by identity theft Personal information is currency in the underground world of cybercrime, which has managed to sting 5% of Australians – more than 772,000 people – with identity theft in the past 12 months alone. A new survey by credit bureau Veda shows that almost ... Read More »

Equifax, Experian, TransUnion in Settlement of US$6 m with 31 State Attorneys

Equifax, Experian and TransUnion have agreed to improve their approach to fixing mistakes on credit reports and address consumer disputes more effectively under a $6 million settlement with 31 state attorneys. The credit bureaus pledged to more closely scrutinize companies that furnish them with data and to curb the marketing of credit monitoring products to consumers who dispute information on ... Read More »

Shandong Province’s Dongying Establishes City-level Credit Reference Platform

There are now a reported 31 micro credit companies, 24 financing guarantee companies, and 25 private capital management companies operating in Dongying, Shandong Province. To better regulate and ease the loans approval process for small- and medium-sized enterprises (SMEs), the city-level government of the Chinese city has now established a financial credit platform to consolidate credit information for the local ... Read More »

U.S. Lenders Reluctant to Switch to Better Performing Credit Risk Scoring Models

For an industry that prides itself for being sophisticated with the use of data and advanced analytics adoption to new credit scoring systems is a slow and expensive process. According to VantageScore LLC, three recent independently conducted surveys http://www.vantagescore.com/news-story/140 suggest that slightly more than 50% of the lenders interviewed would consider switching from their existing credit scoring system to one ... Read More »

PPCB, CRIF’s partner in Vietnam, joins the Vietnam Banking Association

PCB (Vietnam Credit Information Joint Stock Company), whose major shareholder and local strategic partner is CRIF, has officially become a member of the Vietnam Banking Association. During an event held in Hanoi on April 20, the Vietnam Banking Association celebrated the admission of new members and signed a cooperation agreement with PCB. The support and welcome of the members of ... Read More »

TransUnion Canada Announces Paul Devereaux to Lead Its Financial Services Team

TransUnion Canada announced Paul Devereaux has joined the company as vice president of financial services.  With more than 25 years of experience in business development and sales, Devereaux will lead the financial services team as it continues to expand TransUnion’s market share in Canada. Prior to joining TransUnion, Devereaux led Canadian sales for SecureKey Technologies. Devereaux has also served as ... Read More »

Shangai Train-fare Dodgers Listed on Credit Reporting System

Role of Local Credit Reporting System to Combat Subway Ticket Fraud At a recent Shanghai city council conference, rail transportation was selected as one of the 20 sectors highlighted as a responsible industry.  Fare dodgers on the subway were pointed out as a major concern.  A new task force setup by the rail transport authority has prosecuted fare dodgers and ... Read More »

China’s Tencent Enters Credit Information

The approval of eight enterprises by China’s PBOC to enter the personal credit market in 2015 sees Internet giants Aliba (Alipay) and Tencent competing for a piece of the market share.   General Manager of Tencent Credit Services, Wu Dan, disclosed at the Global Mobile Internet Conference (GMIC) in Beijing that the company is currently establishing personal credit rating reports ... Read More »

Big Changes to Credit Reports Are on the Way: What It Means for US Data Subjects

As we have reported in a recent post the Attorneys general in 30 states have reached a $6 million settlement with the major credit reporting agencies Equifax, Experian and TransUnion to make changes in the way they address errors in consumer reports and how some negative information is added to credit reports. The agreement is very similar to one announced March 9 by the attorney general ... Read More »

Comprehensive Credit Reporting in Australia Faces Obstacles

Experian is disappointed with the take-up of comprehensive credit reporting in Australia, saying credit providers appear reluctant to share additional customer information because they are afraid that competitors will get an advantage. Experian outlined its concerns in its submission to the Australian Competition and Consumer Commission in response to an application by the Australian Retail Credit Association for authorization of ... Read More »

To Make Ends Meet:  Australians Struggle to Reduce Debt as Cost of Living Continues to Rise

Eighty-eight per cent of Australians say day-to-day expenses, rent or mortgage repayments, groceries and bills, are the most common roadblocks to paying down debt, according to new research by Experian, the global information services company. Experian research also showed 65 per cent of Australians incorrectly believe contributing to superannuation or saving money can have a positive impact on your credit ... Read More »

Experian and Kredi Kayit Burosu (KKB) Turkey in Partnership on Data Governance

The joint initiative will enable banks to make more accurate credit decisions, thanks to increased data quality. Experien and Kredi Kayit Burosu (KKB), the first and only credit bureau in Turkey, have signed an agreement for a project that will ensure more accurate credit decisions are being made, thanks to the most comprehensive data quality project that has been carried out ... Read More »