Banking and non-banking credit registers start sharing data

“Through this project, the Banking Credit Bureau (SRBI) and the Non-Banking Credit Bureau (NRKI), which contain information about the obligations and relationships of clients and their creditors including participating banks (SRBI) and other financial institutions (NRKI), will share data”, explained Ján Budinský, Executive Director at CRIF – Slovak Credit Bureau, the company managing the banking and non-banking credit registers in Slovakia.
While SRBI members are exclusively banks, the NRKI contains information on clients of leasing and sales finance companies. The new shared information system will serve all current members of the two registers, primarily lenders, banks, financial institutions, leasing companies and companies providing consumer loans, and in the near future it may be extended to important new sectors.

“All members will significantly benefit from the data sharing between the credit registers and have the opportunity to assess the creditworthiness of a client across the whole financial market, thus increasing transparency within the credit market,” added Budinský. To conclude, making information on the payment behavior of clients available to other sectors will potentially reduce the information gap and thus encourage more responsible lending practices and a more accurate risk assessment.”