Caribbean Credit Bureau

Positive Data

 

Positive Data encompasses all types of data elements about credits that gives a view of consumer's total credit exposure.

Until August 1, 2013 CCB was only offering storage and sharing of Negative Data.  Sharing Negative Data provides lenders with important information that helps result in lower default rates and improved market function, however, it does not give an indication about a consumer’s ability to repay the debts it may have accumulated in recent periods. Therefore sharing Positive Data is of importance to the members of CCB.

As of August 1, 2013, CCB's system is fully capable to collect and share positive registration services and CCB is currently offering these positive registration services to its members.

Positive Data sharing provides more detailed information about a consumer’s loans and credit availability.

Examples of positive data include:

    • the total amount and type of loans;
    • accounts currently open and active;
    • balances;
    • credit limits;
    • guarantees;
    • recent changes to borrowing limits;
    • how much cash has been taken out;
    • monthly loan repayment commitments
    • details relating to credit card commitments, such as how much of the allowed balance is utilized;

Access to both Positive and Negative Data gives credit issuing institutions a more complete picture of a customer’s financial commitments so they can make more informed decisions about extending credit.

There are many benefits of sharing positive credit data for financial service providers, consumers and governments alike. For example, financial providers can reduce risk in lending to overextended consumers, while those same consumers can avoid becoming even more overextended.

This in turn can help reduce the number of bankruptcies filed, which shapes the financial landscape of the community and the economy as a whole.

Lender Benefits

    • Expand customer base with better access to more consumers, including those with good credit records.
    • Better understand the relationship customers have with other lenders.
    • Expedite the loan approval process and increase competitiveness.
    • Increase application quality and profitability. Lenders can offer targeted pricing to customers based on the level of risk involved in extending loans.


Consumer Benefits

    • Encourages consumers to maintain good credit records.
    • Rewards consumers who maintain good payment histories.
    • Positive data reporting provides a more comprehensive picture of consumer financial behaviour.
    • A disproportionate number of consumers with a good track record can be unfairly penalized by negative data reporting.


Government and Society Benefits

    • Promotes good payment behaviour among citizens.
    • Increases the country’s banking stability
    • Encourages steady growth in consumer banking