Three years after eight commercial firms were granted permission by the People’s Bank of China (PBOC) to start their pilot programmes in operating personal credit information systems in 2015; none of them have received a license.

Instead, they have now become shareholders and active contributors to a new unified platform that has access to an enormous number of personal credit data. At the so-called ‘trust alliance’ Baihang Credit, state level and commercial organizations join forces in further developing China’s credit systems.

CRIF has announced that it has signed a strategic partnership agreement with the Credit Information and Analytical Center (CIAC) to develop a credit bureau in Uzbekistan.

This initiative is part of the Financial Infrastructure Project in Uzbekistan implemented within the framework of the World Bank Group–IFC Finance & Markets Global Practice. Under the agreement, CRIF owns 35% of the share capital of the private-public partnership company. After two years of international bidding and negotiation, CIAC selected CRIF, under the auspices of the World Bank, as its technological partner in light of its proven record of accomplishment in delivering similar solutions in Europe and credit bureau services for banks and financial institutions in Asia, Africa and the Americas.

In line with its international expansion, in 2016 CRIF increased its global reach and leading position by acquiring Bürgel, Deltavista, CCIS (China Credit Information Service) and MTC (Microfinance Technologies Center) in Germany, Poland, Taiwan and Russia respectively, as well as performing business consolidation activities in other regions where it was already established.