The Credit Bureau Association of South Africa (CBA), Experian SA, and TransUnion ITC in association with Consumer Data Industry Association (CDIA, US) and the Association of Consumer Credit Suppliers (ACCIS, Europe), will host the 5th World Consumer Credit Bureau Conference in Cape Town, in 2006. This bi-annual event is organised by the Global Consumer Credit Reporting Network (GCCRN).
"The Consumer Data Industry Association (CDIA) is extremely pleased that SA has agreed to host the 2006 World Consumer Credit Reporting Conference," said Stuart Pratt, president and chief executive officer of CDIA of the US.
"This is the only event that brings together the world`s consumer credit reporting entities as well as government representatives and credit lenders. It`s important to recognise SA`s positive and mature credit reporting environment by meeting in Cape Town next fall. The South African experience should be a model for other emerging economies on the continent. Those delegates attending the 2006 conference will learn firsthand about the growth and development of the credit reporting industry in SA.
"A strong infrastructure must provide data that lenders can use for judicious risk assessment while, at the same time, adopt policies that protect consumers. SA achieves these goals through its private credit bureaus that maintain positive and negative data. They adhere to a strict industry code of conduct that ensure lenders underwrite loans based on the same principles at play in the rest of the world`s major economic markets including Britain and the US."
Since the first event in Rome 1998, the conference has grown increasingly more successful and now attracts delegates from major credit bureaux worldwide. The purpose of the conference is to communicate the latest innovations and global trends in consumer credit reporting, and to share knowledge regarding information exchange issues in countries around the world.
Mike Reilly, Country Manager at Experian in SA, commented: "This represents a fantastic opportunity for the local industry to showcase its level of sophistication and innovation while, at the same time, gaining access to new developments."
Edward Khoury, CEO of TransUnion ITC, added: "This conference provides a platform for us to share our experience in developing products and services for unique risk scenarios, emerging market environments and also demonstrate SA`s sophistication in credit reporting solutions."
The 5th World Consumer Credit Bureau Conference aims to address the needs of both established credit bureau operators looking to the conference for best practice and innovations that are relevant to their mature businesses, as well as credit bureau operators from emerging markets who are interested in introductory information about credit data management. To this end, the 2006 conference will include both general sessions to address widespread credit trends and issues and targeted break-out sessions that will focus on topics relevant to a specific audience.
According to the World Bank: "The World Bank Group is working actively with public and private sectors throughout the region to develop and strengthen credit reporting in Africa and look forward to the increased attention which hosting the global event in SA in 2006 will bring to these efforts."
Ashina Singh, executive director of the Credit Bureau Association of South Africa, concluded: "As SA is in the process of finalising credit bureaux laws, this conference represents an excellent opportunity to understand international best practices in this regard, and to draw on international expertise for this purpose. For all stakeholders in the credit industry: government, credit providers, credit bureaux and consumer bodies, this conference will be both informative and enlightening."
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Experian is a global leader in providing information solutions to organisations and consumers. It helps organisations find, develop and manage profitable customer relationships by providing information, decision-making solutions and processing services.
It empowers consumers to understand, manage and protect their personal information and assets. Experian works with more than 50 000 clients across diverse industries, including financial services, telecommunications, healthcare, insurance, retail and catalogue, automotive, manufacturing, leisure, utilities, e-commerce, property and government. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, California.
Its 12 000 people in 27 countries support clients in more than 60 countries. Annual sales exceed lb1.3 billion.
The word `Experian` is a registered trademark in the EU and other countries and is owned by Experian Ltd and/or its associated companies.
For more information, visit the company`s Web site at www.experian.co.za.
TransUnion ITC
TransUnion ITC is a leading global provider of business intelligence services in 36 countries worldwide.
TransUnion ITC is an information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion ITC offers a broad range of financial products and services that enable customers to manage risk and capitalise on market opportunities, creating financial opportunities for consumers and building competitive advantage for businesses.
The company uses leading-edge technology coupled with extensive analytical capabilities to facilitate the management of risk across the customer lifecycle - customer acquisition, customer management and collections. This capability expands multiple B2B and consumer markets across diverse industries, including banking, telecoms, healthcare, insurance, retail and government.
In southern Africa, TransUnion also delivers motor vehicle information services through it subsidiaries: Motor Online, Hire Purchase Information and Mead and McGrouther, providers of best-in-class vehicle identification, verification information and trade and retail values.
For more information, please visit www.transunionitc.co.za.
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