The Credit Reference Platform is a key step towards introducing multiple CRAs in Hong Kong, a plan set into motion by TransUnion's 2018 data breach.
November 29, 2022Banks can access commercial credit reference agencies via the CDI to automate credit approval processes, reduce manual handling, and enhance operational efficiency.
November 18, 2022The new platform will enable SMEs to get cheaper bank loans, and enable banks to access the information they need to assess creditworthiness.
October 25, 2022The PBOC will establish connectivity between all credit reporting systems and platforms nationwide, so data on each economic entity can be combined into a single "credit file".
October 18, 2022Banks are encouraged to access credit data in the CCRA database via the CDI, to help them automate credit approvals and enhance efficiency.
September 1, 2022The new platform, expected to be launched by year-end, will serve as an interface for lenders and CRAs to share consumer credit information.
July 11, 2022Hong Kong official Christopher Hui says regulations for banks and money lenders on providing unsecured credit already cover BNPL services.
June 5, 2022Reports say other fines may be made public in the near future for violations of new rules that prohibit the over-collection and misuse of credit information.
January 18, 2022More entities will become eligible to tap credit information disseminated by CICs, which observers say will benefit digital lenders and neobanks.
January 7, 2022The new platform will serve as an interface for credit providers and CRAs to share credit data, as Hong Kong prepares to introduce additional CRAs in the city.
December 20, 2021