CRIB launches new initiatives, products
View(s):With the deployment of advanced technological platforms, Credit Information Bureau (CRIB) introduced a national credit score, the CRIB Score, which now has a 70 per cent market adoption rate enabling robust risk evaluation and serving as reputational collateral in the absence of physical security, a top official said.
“We are aligning ourselves with regional counterparts such as India, Pakistan, Indonesia, the Philippines, and Taiwan by integrating alternative data to provide advanced, dynamic, digital products,” Pushpike Jayasundera, Director /General Manager of CRIB said recently at the CEO’s forum and institutional rating awards ceremony organised by CRIB.
“In addition, we are progressing steadily towards cross-border credit data sharing, supporting both migrant workers and foreign investors,” he told The Sunday Times Business.
To empower data-driven decision-making, CRIB has also launched advanced business analytical tools, offering institutions actionable insights on market concentration, risk exposure, and delinquencies, he added.
CRIB launched two products -Monitoring & Alerts and Credit Stat at the forum. Monitoring & Alerts is a sophisticated portfolio management tool enabling banks and finance companies to manage their large credit portfolios with real-time insights. Credit Stat is an analytical dashboard that provides institutions with detailed monthly performance metrics covering market penetration, risk exposure, and delinquency trends delivered within the first 10 days of each month to support data-driven decision-making in management reviews.
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