Credit information Sharing (Data Management)
Credit information Sharing (CIS) is a process where credit providers such as banks, licensed Microfinance Banks, MNOs and trade credit suppliers submit information about their borrowers to licensed Credit Reference Bureaus (CRBs) so that it can be shared with other credit providers.
By joining the Credit Information Sharing Mechanism, credit providers gain access to a comprehensive database of credit information, allowing them to make informed lending decisions and effectively manage risk exposure.
Frequently Asked Questions
Delve into our resourceful section for valuable insights and answers, aiding in your understanding of Metropol’s offerings and services.
Credit Reference Services (CRS) refer to services provided by a Credit Reference Bureau (CRB) to enable lenders know how borrowers repay their loans. Credit information submitted by Commercial Banks, Credit Institutions and Microfinance Deposit taking Institutions is shared amongst themselves to enable them make informed credit decisions.
A CRB is a company licensed by Bank of Uganda to collect and collate credit information on individuals and companies from various sources and disseminate that information in form of a credit report to authorized users.
A credit report is a record of an individual or company’s borrowing and repayment history prepared by a credit bureau. The report shows how the borrower has handled credit in the past and based on this information, lenders determine the applicant’s credit worthiness.