CRIF participates at the World Consumer Credit Reporting Conference

The eleventh World Consumer Credit Reporting Conference was held on September 23-25, 2018 in New Delhi, India, once again promoted by the Association of Consumer Credit Information Suppliers (ACCIS) and the Consumer Data Industry Association (CDIA).

Approximately 200 delegates from over 60 countries attended the conference, including experts with an in-depth background in credit reporting as well as many representatives of credit reporting agencies from around the world, and representatives of lenders and regulators as well as government officials.

The common theme of the event was “change”: new data, new technologies, new regulations and new business models are modifying the context in which credit reporting agencies operate, leading them to transform themselves as well.

Enrico Lodi, CRIF Managing Director and President of ACCIS, with his speech “The Open Banking Revolution in Europe - the impact of the 2nd EU Payment Services Directive”, presented a concrete case from the European Union: the implementation of PSD2. Interpreted for a long time as "a regulation to comply with", in fact it offers important opportunities to credit reporting agencies to improve their traditional services and expand the audience of end users, such as citizens and companies.

“Credit reporting agencies are no longer just ‘data processors’, but are quickly becoming ‘solution providers’ for traditional customers and end users. It is a change of perspective that has many implications, summarized – as Lodi mentioned in his speech - in the recently published ACCIS document ‘Our Vision’".