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Credit bureaus play a critical
role in today's credit markets. The credit history
information provided by the credit bureaus helps
lenders assess and monitor the risk of lending, and
hence make more informed and profitable business
decisions. Taking a closer look at the European
credit bureaus and understanding the current
structure of the credit information industry, along
with the financial privacy laws can help lenders and
credit bureaus developing strategies to position
themselves in the single European credit market.
June 16, -- New Research Report by
Mercator Advisory Group - Credit bureaus play a
critical role in today's credit markets. The credit
history information provided by the credit bureaus
helps lenders assess and monitor the risk of
lending, and hence make more informed and profitable
business decisions. Taking a closer look at the
European credit bureaus and understanding the
current structure of the credit information
industry, along with the financial privacy laws can
help lenders and credit bureaus developing
strategies to position themselves in the single
European credit market.
Evren Bayri, Director for Mercator Advisory Group's
Credit Advisory Service, comments, "While the
EU states typically have credit bureau(s), the
exchange of information among them occurs at a
marginal level. Some important reasons for this
trend are the sluggish development of the European
cross-border credit market, technical challenges
that arise from differences among the credit bureaus
and privacy regulation-related issues. As the
mobility of the EU population increases and
consumers start to shop around for cross-border
credit, the demand for cross-border credit and hence
the demand for cross-border credit information will
increase. This will occurr regionally in the short
run, where compatibility in privacy laws, lower
language barriers, and the more consumer mobility
create favorable conditions for cross-border lending
and information sharing."
This report puts the European credit bureaus and the
state of the cross-border credit information sharing
under the magnifying glass by providing:
1. A discussion on the public credit registers (PCRs)
in the EU
2. A discussion on the private credit bureaus in the
EU
3. A look at the cross-border information sharing
and implications for the EU consumer credit market
4. A discussion on the regulation in financial
privacy in the EU, and
5. A look at the types of information managed by the
EU credit bureaus
The report contains 28 pages and 4 exhibits. |
