The 2006 edition of the Conference took place in Cape Town, South Africa, from the 8th to the 10th of October. The Conference brings outstanding international credit bureax experts together every two years to talk about global credit trends.
Some of the main topics of discussion were: the integration of credit bureau data between the consumer and small businesses, new generation credit bureau scores, fraud prevention, micro-finance and its relation with credit bureaux. Moreover, there were specific sessions about the impact of Basel II, the relationship between credit bureaux and consumers, technological evolution and legal aspects of the credit sector.
During the Conference, CRIF talked about its own experience, innovative on an European level, related to the application of Credit Bureau Score in the field of Structured Finance.
“After a research project with Standard & Poors” – explains Silvia Ghielmetti, Director of CRIF Decision Solutions – “in 2005 CRIF Credit Bureau Score was included in the Standard & Poors’ Rating model for securitisation for housing finance”. This produces several benefits such as 20% average reduction of expected loss, reduction of credit enhancement and, in certain cases, Rating improvement.”
Some of the world’s credit reporting industry experts spoke at the conference on a variety of issues affecting bureaux and their customers around the globe. There were around 150 attendees representing virtually every country in the world that has a credit bureau. One of the most interesting presentations focused on new markets, discussing the development of credit bureaux in the Russian banking system, where CRIF is founding member of NBCH, the first local credit bureau.
