Paper
Expanding the Scope of Credit Information
What is the need for developing credit information scope and how is it done?
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26 pages
This presentation discusses the need to increase the scope of credit information.It informs about:
- Credit bureau (CB) activities in the Asia region;
- Flow of information in CBs;
- Types of CBs;
- CB development considerations such as, data, resources, credit policies, legislations, consumer privacy, security, etc;
- Standard credit information, with examples.
It presents the following reasons to increase the scope of credit information:
- Socio-economic factors;
- Increased knowledge of the credit process with consumers;
- Credit- hungry societies;
- Competition;
- Revenue opportunities.
It identifies the following five keys to develop scope. These include:
- Depth of information;
- Manipulation of information;
- Value adding;
- Technology;
- Presentation of the information.
The presentation:
- Identifies legislation, governments, public opinion, attitudes, cost, infrastructure and skills as barriers to developing scope;
- Lists the features of both public and private credit bureau information;
- Explains the steps to expanding scope that include: tracing, monitoring, scoring, asset checks, value decisioning, marketing, loan origination and administration.
It concludes by presenting a timeline for the development of scope.
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