Credit Bureau

Consumer credit, leasing and the credit card business in the region of CEE, Russia and CIS countries are growing quickly. Every day, issuers aggressively distribute new credit-based products in order to gain significant penetration and market share. One of the areas where systematic effort can deliver financially attractive results is more complex credit scoring. Every financial institution is looking for ways to lower the ratio of bad debts and related financial losses.

One of the most effective approaches to this problem is to establish a credit bureau which can be used by more financial institutions – banks, providers of consumer credits and leasing companies. These users provide data to the registers about their clients who do not comply with contractual commitments, but also check the registry for information about new applicants for loans or credit.

Global Payments Europe has been a provider of technical services for the credit bureau SID/SOLUS since the first register of individuals was first put into operation. In the Czech market alone, with a population of 10 million inhabitants, Global Payments Europe received almost one million requests concerning individual clients from SID/SOLUS members during the first year of the register operation. Hit rate – the number of responses when an applicant was found in the database as a client who do not meet his commitment towards creditors reached 4.5 %.in the first year.

Because of the high success of this project, a second register of entrepreneurs and corporations was launched as a joint effort by Global Payments Europe and SID/SOLUS in April 2005. Both registers fully comply with the legislation and regulations for personal data protection.

And, Global Payments Europe offers support for financial institutions planning to develop and use credit bureau services in their own markets.

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