Sberbank, Experian and Interfax have completed creation of United Credit Bureau
In the new bureau, Sberbank got 50% shares, and Experian and Interfax - 25% each.
UCB is created on the basis of Experian-Interfax CB, with which Infocredit bureau, owned by Sberbank, was consolidated.
"Two years of the bureau development have confirmed the correctness of our strategy for formation of a dynamic market entity, capable of becoming the leader of the Russian market. The united bureau for two years has built up the credit history database by more than 6 times, whereas the number of banks‘ requests to the bureau database has increased by ten times", said Vice-President, Head of the Risk‘s Department of Sberbank Vadim Kulik.
. Currently, the UCB database comprises data on 33 million borrowers who have 65 million loans.
Within the previous year, the database grew by 22 million credit histories. Due to increased activity of banks who are UCB clients, the number of bureau requests in 2011 exceeded 27 million, which is 3 times more than in 2010.
"The United Credit Bureau has shown its ability to develop ahead of the market both through increasing the volume and quality of data and launching new innovative services meeting growing requirements of the banks. All this allowed our clients to enhance the quality and increase the speed of making lending decisions", commented Rick Gallagher, Chief Investment Officer and Director of Global Strategy and Development, Experian.
In 2011, United Credit Bureau introduced second-generation bureau scoring, and through Experian started providing banks with credit portfolio monitoring services, and launched the Experian‘s National Hunter project for application fraud prevention.
"We place our stake on further brisk development of the credit information market in Russia. The lending market is growing, as well as the number of entities who need credit information -collectors or cellular service providers among them. Borrowers are expected to be using the bureau more actively, too. All this allows us to forecast rapid growth of bureau indicators in the nearest years", said Chairman of the Board of Directors of Interfax Group Mikhail Komissar.
The bureau business plan for 2012 - 14 envisages a substantial increase in the share of the bureau revenue generated by new services. UCB also plans significant growth of investments in development of the bureau technological capability.
United Credit Bureau (Experian Interfax Credit Bureau) was established in 2004 and is one of the three largest Russia‘s credit bureaus.