Experian signs an agreement with PlaNet
Finance, an international NGO (Non-Governmental Organisation) to promote credit
bureau projects in countries where microfinance is developed. Introducing a
credit bureau to store and share information about microfinance customers would
provide a better visibility of a borrower´s past and ongoing history, and
would help the lending institutions to develop further the microfinance
activity.
Experian, information solutions company,
has signed an agreement with PlaNet Finance, an international NGO
(Non-Governmental Organisation) dedicated to reducing world poverty through the
development of microfinance, to promote credit bureau projects in countries
where microfinance is developed. The initiative would enable microfinance
institutions, which offer financial services to those living in poverty and
excluded from the standard financial system, to make more reliable decisions
about the lending applicant. Introducing a credit bureau to store and share
information about microfinance customers would provide a better visibility of a
borrower´s past and ongoing history, and would help the lending institutions
to develop further the microfinance activity.
The agreement with PlaNet Finance covers
all areas where micro financing systems are in place, and combines all the
benefits of sharing the valuable customer data held by lending institutions, to
create a more efficient and stable sector. The introduction of a credit bureau
is considered to be the most effective tool to help to grow the economy of the
country by assisting responsible lending and making credit available to new low
risk customers. This initiative would foster the microfinance sector in developing
countries, creating a more stable economic environment and better conditions
for credit borrowers. There are further benefits of this collaboration for the
borrower as microcredit also has a positive impact on the beneficiary's family.
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