CRIF’s speech at the BIIA 2017 Biennial Conference in Bangkok

It was all about technology, digitization of data, financial inclusion, micro businesses, SMEs and corporate trade credit providers. Moreover, the requirements by policymakers to protect the privacy of individuals, protecting their identity, guaranteeing cyber security, complying with anti-money laundering (AML) and KYC guidelines, cause a conundrum for users of information services and our industry because of the lack of access to information.
Enrico Lodi, CRIF Managing Director, discussed blockchain technology as a great enabling power and explained how it works, stressing the fact that the technology itself needs to be practically applied to proof of concepts and showing the advantage provided to all the relevant stakeholders: an example is the authorization processes for online transactions. He also discussed the role of Fintech companies: competitors or partners for the credit reporting industry? Basically the latter: so far, the most valuable use cases come from the combination of their complementary know how.