Credit Bureau

The subsidiary, Global Payments Credit Services (GPCS), operates in the Russian Federation and it is the biggest credit bureau on the local market. The company GPCS was established in 2005 as a joint venture of Global Payments Europe and Home Credit & Finance Bank from the PPF financial group. The representatives of Global Payments Europe hold the duties in its board of directors and they are fully responsible for the management of the company. The representatives of HCFB hold the duties in the supervisory board of GPCS. Currently, GPCS services approximately 40 clients, mainly financial institutions. More information about our activities in the field of credit bureaus in Russia can be found on the web site:

http://www.globalpaymentsinc.com/Europe/russian/products/credit-bureau.html

At the present time, a pilot operation of credit bureau of individuals takes place in Slovakia. Global Payments Europe provides technical services for the credit bureau SOLUS here.

In the Czech Republic, Global Payments Europe has been a provider of technical services for the credit bureau SID/SOLUS since February 2004 when the first register of individuals was put into operation. In view of the high successfulness of this project, a second register of entrepreneurs and corporate bodies was put into operation by GPE and SID/SOLUS in April 2005. Both are cases of negative registers that process and save information solely on subjects who do not meet their commitment towards creditors. The register contains only information necessary for the identification of the client and information about the manner and extent of his failure to comply with his duty to pay his financial commitment. The information about the settlement of the debt is saved in the database to the extent of the approval of the client, for the period of 3 years.

The present register users are mainly financial institutions – banks, providers of consumer credits and leasing companies. These users provide data about their clients who do not comply with contractual commitments to the registers and check new applicants for loans or credits in the form of inquiries to the register.

Advantages

The basic advantage of registers for which GPE provides technical services is the highest data safety. All personal sensitive data are encoded. As the technical processor of the register, GPE does not have keywords at its disposal. These keywords are saved with other legal entities in different geographic localities. Thanks to this solution it is not possible to misuse the access to the register database for acquisition of sensitive data.

The system fully complies with the legislation and regulations for personal data protection.

The usage of both credit registers enables clients to:

• Lower the growth rate of the number of debtors with default in payment
• Lower the ratio of bad debts and related financial losses
• Avoid the combination of unreliable debtors in several institutions
• Offer credit to reliable clients under more favorable conditions

Features

• Both registers are accessible on-line
• Importing records in registers through the import of a batch over a web interface
• Sending confirmation about the import of the batch result via e-mail
• Saving all sensitive data in registers in an encoded form
• Possibility of formulation of different inquiry types
• High speed – more than 99,99% of inquiries are executed within 1 second after the raise of the inquiry

How it works

The execution of the inquiry to any of the registers takes place in 4 phases:

• The register user sends his inquiry after log-in into the internal information system.
• The inquiry to the register database is made according to the received requirement and the response is set up.
• The response with encoded sensitive data is sent to the register user’s system.
• The register user´s system decodes the data sent and sends them in a readable form to the end station (PC) in its respective commercial branch where the inquiry was made.