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The New Privacy: It’s All About Context

Adopt Contextual Privacy to gain A Market Advantage says Fatemeh Khatibloo of Forrester Research “Privacy is dead”: It’s a trope so often repeated you might actually think it’s true. But in the age of smartphones and sensors, privacy is not only possible, it’s essential for building trust, the foundational currency of social, mobile, and local services. Context is key: Businesses crave ... Read More »

Top 10 Tips for Managing Trade Credit in 2014

BIIA member Tinubu Square recently has issued its Top Ten Tips for Managing Credit in 2014: Signs of economic recovery should be treated with caution: Trade credit may well become more widely available in 2014, but it is crucial to exercise robust financial management and not to overstretch limits due to an improving market. Don’t overtrade and remember recovery never ... Read More »

EU Union Estimates the Cost of Corruption at Euro120bn

The European Union has been trying to compute the costs of this increased corruption:  The estimate is €120 billion annually.  This is a combination of lost tax revenue and a reduction in foreign investment. The data is actually pretty shocking given that these are modern industrial states and not the developing nations that are so often assumed to be the most ... Read More »

Open Government: Indonesia to Provide an Integrated and Accessible Portal for Public

LAPOR! (“to report” in Indonesian) is an initiative from the Government of Indonesia to provide an integrated and accessible portal for the Indonesian public to submit complaints and inquiries as a means of enhancing public participation in national development programs.  The Public can submit complaints about development programs and public services simply through the website. LAPOR! Will then transfer every validated ... Read More »

Small, Spotty and Zero Data: Insights Gleaned from the Absence of Data

Insights appear to be funny things.  They don’t necessarily depend on data, but, without corroboration in the objectively measurable, insights must be taken on faith.   In essence that’s a slippery slope to superstition and subjective decision making. Sleuthing is everything.  Insights are something one usually has to work for, and, more often than not, that involves vetting the data from ... Read More »

EU Commission Workshop: Improving Credit Assessment and Information for SMEs in Europe to Facilitate Access to Finance for SME

The EU Commission had invited a diverse group of experts ranging from credit rating, credit information, banking, alternate finance, and capital market participants to discuss whether regulating credit scoring would facilitate access to finance for SMEs i.e. as a tool to advance lending. The workshop was well attended indicating intense interest in this topic.  There were eight BIIA members at ... Read More »

Russian Credit Health Nearing Four-Year Low

Russian borrowers’ credit health reached nearly a four-year low in October. The country’s FICO® Credit Health Index fell to 102, down from 104 last quarter, and just 2 points above the low experienced in late 2009. This information was published by FICO with our partner, the National Bureau of Credit Histories (NBKI), Russia’s leading credit bureau. Since April 2012, the ... Read More »

Transparency International Corruption Index 2013: Corruption Still a Big Problem

Transparency International has just released its Corruption Index 2013 which rates corruption perceptions in 177 countries around the world.   Unfortunately, more than two thirds of the 177 countries in the 2013 index score below 50, on a scale from 0 (perceived to be highly corrupt) to 100 (perceived to be very clean).  The average country score this year is 43/100 ... Read More »

Credit Scoring: An Effective Way to Ensure Availability of Timely and Adequate Credit to Micro and Small Enterprises (MSEs)

In a keynote address by Dr K C Chakrabarty, Deputy Governor of the Reserve Bank of India, at the Training Workshop on Credit Scoring Model (Mumbai Nov. 29th, 2013), stated that credit scoring offers a modern alternative for the traditional method of evaluating loans for small businesses where loans were approved on the basis of the banker’s qualitative judgment and ... Read More »

Transparency: Virginia Commission Makes No Recommendation on Credit Reporting Bill

The Virginia Small Business Commission made no recommendation on Virginia House Bill 2198 this week, leaving the commercial credit reporting bill effectively dead for the remainder of the year. The credit information industry and the National Association of Credit Management (NACM) are opposed to HB 2198 since its introduction in January, and will continue to oppose it as the debate ... Read More »

Transparency International to Sponsor One World Media Corruption Reporting Award

The global anti-corruption organisation Transparency International is pleased to announce its sponsorship of the Transparency International Corruption Reporting Award, a new award, as part of the One World Media Awards 2014. The Corruption Reporting Award is for all media that cover any aspect of corruption, including investigative reports and features that show the effects of corruption on individuals or society. ... Read More »

NACM Reiterates Opposition as Virginia Continues Consideration of Commercial Credit Reporting Bill

The National Association of Credit Management (NACM) reiterated its opposition to Virginia House Bill 2198 this week as policymakers in the Commonwealth continue to consider the bill’s ramifications ahead of the next legislative session in 2014. NACM continues to oppose HB 2198 on the grounds that it would make it harder for commercial credit managers to get the information they ... Read More »

Unintended Consequences: New Proposed EU Data Protection Rules May Retard Access to Finance for Consumers

A major overhaul of current EU data protection rules was voted by the EU Civil Liberties Committee this week. The new rules are to replace the current “patchwork of national laws” and the EU Civil Liberties Committee is pushing for a fast track ratification by member states. The new rules are supposed to put people in control of their personal ... Read More »

Transparency at Risk: Commercial Credit Reporting under Attack by Small Business Commission

Virgina, USA:  DEBATE OVER HB 2198 CONTINUES AT RECENT VIRGINIA SMALL BUSINESS COMMISSION MEETING The Virginia Small Business Commission continued its study of House Bill 2198 early September with the meeting of an ad hoc committee specifically formed to study the legislation, which would affect commercial credit reporting in the Commonwealth. NACM was in attendance, providing the committee with a ... Read More »

Transparency International Calls On G20 to Deliver On Anti-Corruption Commitments

Companies to publicly register the names of their real, beneficial owners Transparency International called on G20 countries to follow through on their anti-corruption commitments by boosting financial transparency across borders and creating an environment which enables civil society to combat corruption. To deliver on their commitment to tackle financial crime, G20 leaders should agree to make all companies publicly register ... Read More »

Australian Risk Climate: New Legislation a Game-Changer for Commercial Risk Management

New Comprehensive Reporting legislation will add significant value to the assessment of the commercial risk of small businesses”, says Veda’s General Manager – Commercial Risk Products, Moses Samaha.  Speaking at a recent Veda road show to more than 150 Trade Credit businesses, Samaha urged creditors to also assess the credit profile of the directors and proprietors behind a company or business ... Read More »