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Regional MeetingPhnom Penh, Cambodia
March 14th to 15th, 2018
Event sponsored by:
Event supported by:
International Finance Corporation –part of the World Bank Group
Introduction to BIIA
Introduction to BIIA
• Who We Are
• BIIA Mission
• Membership Benefits
Outreach & Market Engagement
Industry Advocacy
Information Resources
Conferences & Networking
• Current Membership
• BIIA Governance - Leadership
Who We Are
The Business Information Industry Association (BIIA) is a trade association for
providers of a wide range of BOTH business and consumer information
services that help businesses manage growth and reduce risk.
Our members’ services spectrum includes information providers, platforms,
workflow software, decision systems, identity and authentication services,
compliance and risk assessment tools.
The largest member segments are consumer credit bureaus, commercial
credit information companies, business information and software providers
supporting digital commerce.
BIIA was formed in 2005 in Hong Kong by
regional industry members as a regional
association. By 2007 the association had
achieved global membership.
BIIA is registered in Hong Kong as a Limited
Liability Corporation by Guaranty. BIIA is a
Not-for-Profit Organization.
BIIA Mission
• Provide a neutral, open forum through which business and consumer
information providers and users, regulators, and government and public
information sectors can debate and resolve common issues
• Promote the information content industry by demonstrating the value of
information for businesses and national economies
• Serve as a resource on industry standards, trends, technological
developments, and policies
• Advocate a legal regulatory environment beneficial to the industry
• Provide a valuable platform for networking
Member Benefits - Outreach
Information Resources: Members are entitled to have free access to BIIA.com
proprietary industry and regulatory data compiled and analyzed on behalf of the
membership.
Networking: Conferences
Market Engagement: BIIA Participates in International and Regional Forums on
behalf of its members. BIIA works on international councils such as the World
Bank’s International Committee on Credit Reporting, The IFC’s SME Finance
Forum, Financial Infrastructure Development Network (FIDN), a part of the
APEC / ABAC financial infrastructure; B20 Taskforces on access to finance for
SMEs and Digitization
BIIA monitors and compiles
data and insights on industry
and regulatory developments
almost on a daily basis.
The BIIA database contains
over 9,000 articles of industry
announcements, white papers
and market research
documents.
Member Benefits: Industry Advocacy
• BIIA regards industry advocacy as one of BIIA’s principal responsibilities to
keep membership informed of regulatory developments and assist with best
demonstrated practices when needed.
• BIIA publishes a monthly Regulatory Newsletter keeping members informed
of significant developments in policy dossiers being worked on particularly in
Europe (most prolific) and in other geographical territories.
• The industry advocacy activity is ably supported by the regulatory committee.
Committee Chair
Tony Hadley, Senior
Vice President,
Government Affairs
and Public Policy at
Experian
Dennis Ambach,
Vice President
Government
Relations at
TransUnion
Dr. Axel Bysikiewicz:
Section Manager for
Corporate
Governance at
SCHUFA Holding AG.
Germany
Peter Sheerin, BIIA
APCCIS Committee
Chair & Member of
the Executive
Committee
Lawrence Yee,
BIIA Director –
China Regulatory
Affairs
Neil Munroe, BIIA
Deputy Managing
Director, BIIA
Executive
Committee CRS
Insights Ltd.
Member Benefits - Information Resources
• Technology Drives Digitization - An Imperative for BIIA Members to
Stay Informed - BIIA Monitors the Ecosystem
LATE BREAKING NEWS BY CATEGORIES
Analytics/AI Blockchain Business Information Compliance
Cyber Security Credit Bureau News Data Digitization
E-Commerce Financial Inclusion Fintech Fraud
Identity Privacy Regulatory News Technology
Information Resources - Example 1
• Who Grows – who does not? - A quarterly review of revenue growth
-1
11
-3
3
16
3
15
6
11
1918
12
24
7
-5
2
7
-3
3
810
11
45
3
7
-8
4 45
7
1816
5
14
109
-4
2
7
24
7
16
12
-10
-5
0
5
10
15
20
25
30
Ac
xio
m
BO
L T
ha
ila
nd
Cerv
ed
Co
reL
og
ic
Cre
dit
refo
rm
Cre
dit
sa
fe
D&
B
Eq
uif
ax
Ex
pe
ria
n
FIC
O
GB
Gro
up
Info
rma
D&
B
Mo
od
y’s
S&
P G
lob
al
Tra
ns
Un
ion
Ve
ris
k A
na
lyti
cs
Q1 2017 Q2 2017 Q3 2017 Q4 2017 Annual Growth 2016
Revenue Growth in % as reported of 02/18/2018
Information Resources - Example 2
• Who acquires what? - A quarterly review of acquisitions, partnerships,
internal product development and international expansion
Global Readership BIIA Website
Source: Google Analytics (differences in totals due to rounding).
USA 25%
Brazil 2%
Rest of Americas 2%
India 10%
China 4%
Hong Kong 2% Japan 2%
Malaysia 2%Philippines 1%
Thailand 1%Australia 1%
United Kingdom 14%
Germany 4%
France 2%
Italy 2%
Russia 2%
Spain 2%
Sweden 1%
Netherlands 4%
Belgium 2%
Rest of Europe 6%
ME Africa 4% Not Assigned 4%
Singapore 1%
Americas
29%
Asia 27%
Europe
MEA 41%
0 0 2
3022
-6
14
34
54
Conferences and Networking
BIIA The BIIA Network
2005 2010 2015 2017
1,100
3,200
4,300 Information Professionals
Current Membership
13 15 15 16 1620 20 21
25 2734 36 37 40
34 7
13 1310 12
1919
23
25
3033
33
0
10
20
30
40
50
60
70
80
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*
*As of February 25, 2018.
Full Members Associate Members
16 1922
29 29 30 32
40
44
50
59
6670
73
Full Members
Associate Members
Full Membership: Participation in Industry Advocacy and Association Governance:
Board Membership, Voting Rights, Policy Decisions
Associate Membership: Passive, Access to News
BIIA Governance: The Leadership Team
Mr. Thirachai P., BIIA
Chairman (nominated)
Former Central Banker
and Former Finance Minister
of Thailand
Joachim C Bartels,
Co-founder of BIIA,
Managing Director &
Executive Committee
Member
Neil Munroe, BIIA
Deputy Managing
Director, BIIA
Executive Committee
CRS Insights Ltd.
Enrico Lodi, BIIA
Executive Committee,
CRIF
Peter Villa, BIIA
Executive Committee,
Schufa
David Worlock, BIIA
Chairman retiring
Industry Expert
Adrian Ashurst,
Worldbox
Mark Cochrane
Business Strategies
Group
Shahid Charania
Equifax
Dan Meder
Experian
Ruth P. Stevens
B2B Marketing Expert
Surapol Opasatien
National Credit Bureau
of Thailand
Lawrence Tsong
TransUnion
Lawrence Yee
Entrepreneur
• Industry Know-How
• Leadership
• Competence
• Experience
18
Global Industry Trends and Key Regulatory Themes
Global Industry Trends and Key Regulatory Themes
10 Key Trends Keeping Information Executives Awake
19
Compliance
Fintech
Blockchain
E-Commerce
Fraud Prevention
Cyber Security
Identity
Analytics/AI
Regulatory
Digitization
Business Information industry Association - All Rights Reserved
20
Cyber Security Current Trends / Takeaways
Business Information industry Association - All Rights Reserved 20
• 2013 BIIA alerts members about data breaches and cyber security risk
• 2014 BIIA enters into an alliance with Cyber Security Intelligence - proving insights on key issues
• 2015 BIIA 10th Anniversary featured a session on cyber security: Prevention / Preparedness / Incident Management
• 2017 BIIA Biennial Conference: Panel discussion on cyber security – key issues
• 2018 BIIA to intensify the monitoring of Cyber Security Risk
22
39
74
98 103
2013 2014 2015 2016 2017
Total Articles on Cyber Security 358
21
Cyber Security Locked in an Arms Race
Business Information industry Association - All Rights Reserved
22
Cyber Security Magnitude of Data Breaches
18,556
19,800
20,955
21,045
21,300
21,663
21,750
22,490
24,211
25,802
28,512
33,125
33,167
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000
AU
SA
IT
AS
JP
UK
CA
DE
FR
BZ
US
ME
ID
Average size of data breach 2017
The average number of breached records by country or region
Global average = 24,089
Source: IBM / Ponemon Study
Business Information industry Association - All Rights Reserved
23
Cyber Security Average Cost per Data Breach
1.52
1.68
1.92
2.29
2.53
2.80
3.10
3.47
3.51
3.68
4.31
4.94
7.35
1.70
1.53
2.39
2.29
2.20
2.87
3.55
2.95
4.19
4.58
4.56
4.12
6.69
0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00
BZ
ID
AU
AS*
SA*
IT
UK
JP
FR
DE
CA*
ME
US
4-year average FY 2017
The average total cost of a data breach
compared to the four-year average
Grand average for FY2017=$3.62,
FY2016=$4.00, FY2015=$3.79,
FY2014=$3.50 (cost in millions)
Source: IBM / Ponemon Study
Business Information industry Association - All Rights Reserved
24
Cyber Security Per Capita Cost
$71
$101
$119
$123
$124
$131
$132
$137
$149
$150
$154
$165
$188
$200
$223
$245
$380
$80
$114
$128
$123
$129
$139
$140
$155
$168
$149
$144
$207
$260
$178
$222
$369
$0 $50 $100 $150 $200 $250 $300 $350 $400
Public sector
Research
Media
Transportation
Hospitality
Entertainment*
Consumer
Energy
Industrial
Communications
Retail
Technology
Life science
Education
Services
Financial
Health
4-year average (US$) FY 2017 (US$)
Per capita cost by industry
classification
Source: IBM / Ponemon Study
Business Information industry Association - All Rights Reserved
25
Cyber Security Current Trends / Takeaways
1. Undeniably now a strategic risk
2. Ranks high on scale of business risks
3. Expect escalation of attacks – insider risk underinvested
4. Cyber Risk Score (Preparedness) may become as
important as a Credit Rating (FICO) (Moody’s)
5. Run on Cyber Insurance
6. Run on talent - 2018 compensation to increase by 8%
7. Enterprise average cost in 2017: US$6.69 – US$7.35mil
– cost varies by country and industry (USA)
8. Enterprise Cost for Equifax in 2017 was US$ 164 mil (net
US$114 after insurance)
9. Economic Cost - Exceeding US$1trillion
10.Regulators - Spotlight widens becoming more complex
Business Information industry Association - All Rights Reserved
26
Fraud Prevention
• Online fraud now considered to be the most common
criminal offence in many countries
• Increasing cross-over with cyber crime, financial fraud
and identity theft
• Online crime wave hits consumers, financial services
and businesses alike
• Consumers and SMEs need education and help
• Identity is critical in preventing fraud
• Fraudulent synthetic identities are on the rise
Current Trends / Takeaways
Identity Theft Prevention
Business Information industry Association - All Rights Reserved
27
Fraud Prevention
• Machine learning and AI to speed fraud detection
• Credit information Industry and its clients make
significant investments in fraud prevention technology
• Equifax said it had launched 55 new products in 2017
• Companies with leading edge applications of Analytics /
AI are more competitive , grow faster and are rewarded
with a higher valuation (revenue multiplier) (S&P)
• Acquisitions and partnerships are used as fast track
methods to acquire analytics capabilities, platforms,
products and talent
Current Trends / Takeaways
Analytics/AI Identity
Business Information industry Association - All Rights Reserved
• Analytics / AI service are leading
28
Fraud Prevention Platforms / Analytics / AI
BIIA analysis of 900 company announcements in 2017
29
Current Trends / TakeawaysDigitization
• Digitization has become a reality
• Solutions vs Products
• Welcome to Robot Land – Automation in Credit Granting
• Farewell to the credit manager – perhaps not quite as yet
• Growth opportunities par excellence
• Cyber crime has raised the strategic risk
• Resource allocations shift to balance opportunity and risk
• Welcome Chief Information Security Officer (CISO)
• Welcome Chief Risk Officer (CRO)
• Not ready for digitization? You better get used to it …
Business Information industry Association - All Rights Reserved
30
Digitization From Credit Reporting to Risk Management
Credit Infrastructure
Capital Markets Bank and Trade Credit Consumer Credit
InformationCommercial Credit
Information
Consumer Credit
Information
Large Medium Small Micro / Consumers
Type of Credit
Recipient of
Credit
Credit Rating
Indices
Business Information industry Association - All Rights Reserved
Large Medium Small Micro / ConsumersRecipient of
Credit
Risk Management
Solutions
Risk Management
Solutions
Credit Infrastructure
Capital Markets Bank and Trade Credit Consumer Credit
InformationData & Analytics Data & Analytics
Type of Credit
Credit Rating
Analytics
31
Digitization From Credit Reporting to Risk Management
Business Information industry Association - All Rights Reserved
Capital Markets Bank and Trade Credit Consumer Credit
Talent
Large Medium Small Micro / Consumers
Type of Credit
Recipient of
Credit
AnalystRating Committee
UnderwriterLoan Officer
Credit Manager
Loan Officer
32
Digitization What happened to yesterday’s users?
Business Information industry Association - All Rights Reserved
Capital Markets Bank and Trade Credit Consumer Credit
Large Medium
Talent
Small Micro / Consumers
Analytics / AI
Type of Credit
Recipient of
Credit
Automated Systems
Analytics / AI
Analytics / AI
Data Scientists
Robots
33
Welcome to Robot Land – Today’s UsersDigitization
Business Information industry Association - All Rights Reserved
The Impact of Technology on Employment
Capital Markets Bank and Trade Credit Consumer CreditType of Credit
0.015 0.03 0.0350.08
0.22
0.38
0.61
0.66
0.76
0.86
0.940.97 0.98 0.98 0.98 0.99
0.00
0.20
0.40
0.60
0.80
1.00
Probability (0 Low – 1.0 High)of Professional Functions Being Replaced
by Computerization
Source: “THE FUTURE OF EMPLOYMENT:
HOW SUSCEPTIBLE ARE JOBS TO
COMPUTERISATION?∗Carl Benedikt Frey† and Michael A.
Osborne‡
September 17, 2013”
Insurance
Underwriters
Loan Officers
Credit
Analysts
Credit
Authorizers
Statistical
Assistants
Statisticians
Compliance
Officer
34
Digitization
Business Information industry Association - All Rights Reserved
Source: The 2016 Global Data Management Benchmark Report by Experian
0 20 40 60
Compliance Officers
Customer Focused DataRoles
Data Protection Officers
Analysts
Chief Data Officers
All Respondents C-level Respondents
Percent of Respondents
Top Data Related Roles U.S. Organization’s Plan to Hire in 2017 Vs Today
35
Digitization
The Rise
of the
Risk
ManagerWelcome
To CISO
Chief
Information
Security Officer
Business Information industry Association - All Rights Reserved
Source: The 2016 Global Data Management Benchmark Report by Experian
36
Current Trends / TakeawaysCompliance
• Banks are forced to become serious about compliance
• AML / Beneficial Ownership / KYC
• Businesses have additional issues:
• Supply Chain problems with slave labor, child labor,
environmental issues
• Escalating costs
• Lack of information – it is all about identity
• Inefficient compliance leads to:
• Customer dissatisfaction – loss of customers
• Potential erroneous flagging as high risk
Business Information industry Association - All Rights Reserved
The Collapse of the Supply Chain: Impact on Information?American Online Retailing Growing Rapidly (% of Core Retail Sales)
37
E-Commerce Current Trends / Takeaways
Business Information industry Association - All Rights Reserved
External Information
E-commerce and the Collapse of the Supply
Chain: Impact on Information?
Raw Mat. Manufact. Distribution Wholesaler Retailer Consumer
E-commerce
FSFS
FS
38
E-Commerce
Business Information industry Association - All Rights Reserved
Hello Disrupters: Fintech More Competition?
Large Medium Small Micro
FINTECH
Alternative Data Sources
Consumer
Credit Infrastructure
Capital Markets Bank and Trade Credit Consumer CreditType of Credit
The Definition Conundrum Technology
Provider
Technology and
Lending
Licensed &
Regulated Bank
Data & Analytics
39
Fintech
Business Information industry Association - All Rights Reserved
Credit Infrastructure
Capital Markets Bank and Trade Credit Consumer CreditType of Credit
Hello Disrupters: Blockchain
Smart
Contracts
Food
Safety
Financial
Transactions
Issuance
of Shares
Company
Registrations
Trade
Transactions
40
Blockchain
Business Information industry Association - All Rights Reserved
• From early beginnings too much hype and empty promises
• Great Expectations – Great disappointments
• 2018: More empty announcements expected
• Don’t use Blockchain until you need one!
41
Blockchain Current Trends / Takeaways
Blockchain concept in
decline on the Gartner
Hype Cycle Chart
Business Information industry Association - All Rights Reserved
42
Blockchain Current Trends / Takeaways
• Concentration of Proof of Concepts and Beta Projects
Land Registry
Exchange Settlements
Food Fraud
Identiy Protection
Cross Border Payments
KYC Applicatiojns
Lending Platforms / Micro / SME
Central Bank Cross Border Settlements
Supply Chain and Trade Finance Solutions
Source: Sample of Intensity of Concepts Observed by BIIA 2016 / 2017 Based on 161 Company Announcements
Business Information industry Association - All Rights Reserved
• Specific developments in Europe impacting the credit reporting
industry
• Access to Credit in the Digital Data World
• Regulatory approach to innovation
• Sharing of Credit Data on SMEs – the UK example
43
Regulatory
Specific developments in Europe
impacting the credit reporting industry
Business Information industry Association - All Rights Reserved 48
Key Policy drivers
Financial stability Growth
Citizens Rights
Business Information industry Association - All Rights Reserved 45
Specific developments impacting the credit reporting
industry
• Financial stability/financial reform
Consumer Credit Directive (CCD)
Mortgage Credit Directive (MCD)
Anti-money laundering
Over indebtedness and assessment of affordability
Capital Requirements Directive – fourth edition (CRD IV)
ECB and Anacredit
Business Information industry Association - All Rights Reserved 46
Specific developments impacting the credit reporting industry
• Growth
Capital Markets Union – SMEs
Payments Accounts Directive – access to bank accounts
Payment Services Directive
Retail Financial Services Green paper
Digital Single Market
FinTech
Big Data
Crowdfunding
Business Information industry Association - All Rights Reserved 47
Specific regulatory developments impacting credit
reporting
• Citizens Rights
Data Protection Regulation
To be implemented by 25th May 2018
Key areas of change that could impact credit reporting
• Consent
• Legitimate interest
• Data portability
• Right to be forgotten
• Profiling
US – EU ‘Privacy Shield’
– The new ‘Safe Habor’
Business Information industry Association - All Rights Reserved 48
Access to Credit in the Digital Data
World(Disrupting the Credit eco-system)
Business Information industry Association - All Rights Reserved
Factors enabling disruption
The ‘explosion’ of digital data
New data
Social media
Greater access to existing data resources
APIs, Open Data programme, ‘blockchain’
Transactional/behavioural data in e-trading and e-payment platforms
New approaches to lending (the so called ‘dis-intermediation of banking’)
Crowdfunding/P2P
New lenders leveraging their detailed relationship and ‘trusted’ brand
status with the consumer/small business (customer centric)
E commerce merchants
E payment service providers
Social media/communication channels
Big Data analytic platforms
Ability to go beyond the traditional data provided by CRAs, unlocking the
broader insights available through digital data (Big data is no longer
regarded as ‘unstructured’)
The Credit eco-system is changing
50
What is driving the growth of the new eco-system?
The ‘Millennials’ (Generation ‘Y’)
Tec savvy and connected – super users of new technology and social media
Growing purchasing power
Less established credit histories
Different attitude to banking facilities
Recent study showed more than 50% of them don’t think their bank offers
anything different than other banks and many expect more innovation and
banking solutions from the technology sector
Credit trends require a fresh approach
Temporarily impaired credit as a result of the recession - alternative data points
can be more effective in identifying one-time versus recurring credit issues and
provide more insight into consumer behavior.
New services offer better rates and faster service
Driven by lower operating costs, enhanced information and use of online
technology.
The Credit eco-system is changing
Business Information industry Association - All Rights Reserved 51
Access to Credit in the Digital Data
World
Consumers/SMEs CRAs
E commerce merchants
Banks/Lenders
Social Media
The current eco-system
ASPSP
Business Information industry Association - All Rights Reserved 52
Access to Credit in the Digital Data
World
Consumers/SMEs
CRAs
E commerce MerchantSocial Media
PISPs and ASIPs
Banks
Finance Company
CRA
Finance Company
Finance Company
P2P Lenders
CRA
P2P Lenders
Data analytic
platforms
Data analytic
platforms
Data analytic
platforms
Lenders
PISP/ASIP
PISP/ASIP
API
API
API
The new eco-system
Business Information industry Association - All Rights Reserved 53
Access to Credit in the Digital Data World
The potential impact of the disruption on lenders
Business Information industry Association - All Rights Reserved 54
The potential impact of the disruption on lenders and
traditional CRAs and how can they respond?
CRAs
Pressure will continue to open up the data – will this cause
a rethink of the traditional model – ‘facilitator’ rather than
‘owner’?
Look to enhance existing data with new social media and
transactional data sources to avoid minimalisation of role
Develop analytical skills that understand the new data
Real time, dynamic databases will be critical
Invest in the new platforms or become part of one of them?
Access to Credit in the Digital Data World
Business Information industry Association - All Rights Reserved 55
Regulatory approaches to
innovation: European experiences
Business Information industry Association - All Rights Reserved
EU Policy and regulatory priorities
• Data protection and data-related policy initiatives
data as a core asset in the new economy, need for a new policy approach
The new EU General Data Protection Regulation
o Profiling
o Lawfulness of data processing (consent, legitimate interest)
o Right to be forgotten/right to object
o Accountability principle
• Digitalisation and Innovation
EU Digital Single Market Strategy
New E-Privacy Regulation
• Revamping of EU financial services regulation
as response to the recent financial crisis but also to adapt to market developments
and digital world (40 + major legislative and policy initiatives on the financial sector
in 2009-2017)
Business Information industry Association - All Rights Reserved 57
EU Policy initiatives
• A whole range of EU initiatives focused on innovation in the digital data
world
• Common themes: recognition of the potential of the use of data to bring significant improvements to
the credit and financial markets: financial inclusion (alternative data), access to
credit, risk management and preventing over-indebtedness, fraud prevention
highlighting of risks related to the expanding use of data in the digital world (risk of
financial exclusion of certain groups, privacy breaches, questions around the use of
social media data).
• The EU policy approach to these issues is still being developed
58
• FinTech identified as a priority by the EU Commission in 2016 recognition of FinTech as a potential contributor to growth, financial inclusion and
other benefits for consumer, increased competition
• Special FinTech Task Force at the EU Commission (cross-department) no specific output (e.g. policy or legislative proposal) has been committed to
rather monitoring of developments, early thinking
• EU Action Plan Launched this month.
• Credit Reporting industry response: Fintech is a significant opportunity for companies (old and new) and consumers
Need for the right regulatory framework to encourage innovation
Regulatory level playing field between established and new players, EU and non-
EU players
EU Work on FinTech
Business Information industry Association - All Rights Reserved 59
• UK – FCA Innovation Hub including the “Regulatory Sandbox“
• France – AMF "Regulatory Soundbox"
National Work on FinTech
https://www.youtube.com/watch?v=YUb3dc90y_g&index=3&list=PL6Bvf2KRQCCcXVQmjKrAXGRfzdxRP3tE_
Business Information industry Association - All Rights Reserved 60
Sharing of Credit Data on SMEs
– the UK example
Business Information industry Association - All Rights Reserved
Policy Objectives
• Increase competition in the SME credit market by lowering barriers
to entry providing SMEs with a wider choice beyond their existing
credit provider leading to an increased availability of credit
– Achieved by improving the availability of SME credit data amongst
lenders to reduce information asymmetries and enable newer lenders to
better differentiate high and low risk borrowers, removing a barrier to
entry for newer credit providers
– Improved access to SME credit data will improve SME credit scoring and
therefore the availability and price of credit for SMEs, particularly for
smaller and newer businesses which have no credit footprint
Business Information industry Association - All Rights Reserved 62
The Regulation
• Designated Banks to provide credit information about their SME customers
to designated CRAs
• Designated CRAs to provide this credit information to other finance
providers for the following purposes:
– credit assessment
– debt collection
– complying with its statutory or other legal obligations relating to the provision of
the credit (AML. KYC etc.)
• Supply of information by the Banks and by the CRAs requires agreement of
the SME customer
• Under the Regulation a business is an SME business if:
– It has annual turnover of less than £25million
– It carries our commercial activities
– It does not carry out regulated activities as its principle activity, and
– It is not owned or controlled by a public authority
Business Information industry Association - All Rights Reserved 63
The Regulation
• Credit information to be shared
– Information relating to:
• loans
• credit cards
• current accounts
• business type indicator (e.g. limited liability company or non-limited
business);
• business name and address
• company registration number (if applicable)
• telephone number
• VAT number (if applicable)
– The finance provider receiving the credit information is required to agree
reciprocally to provide credit information that it holds about its SME
customers to the designated CRA within 12months of accessing the
information from the Banks.
Business Information industry Association - All Rights Reserved 64
Global Industry Trends and Key Regulatory Themes
10 Key Trends Keeping Information Executives Awake
65
Fintech
Blockchain
E-Commerce
RegulatoryP
R
E
P
A
R
ECompliance
Fraud Prevention
Cyber Security
Identity
Analytics/AI
Digitization
I
N
V
E
S
T
Fight over Resource
Allocation
LATE BREAKING NEWS BY CATEGORIES
Analytics/AI Blockchain Business Information Compliance
Cyber Security Credit Bureau News Data Digitization
E-Commerce Financial Inclusion Fintech Fraud
Identity Privacy Regulatory News Technology
For Information, Insight and
Vision on the Information
Industry
Visit
www.biia.com
Thank You
For further information about joining please contact any member of the BIIA
executive committee:
Joachim C Bartels, Managing Director: e-mail biiainfoasia@gmail.com
Neil Munroe, Deputy Managing Director: E-mail neilm@crsinsights.com
Peter Sheerin, Member of the Executive Committee: E-mail:
sheerin.peter@gmail.com
or consult our website: How to become a member
February 2018
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