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March 28, 2006
Experian-Interfax issues its first credit history report
The Experian-Interfax credit bureau filled its first request from an individual for a personal credit history on Tuesday.
"This means that Experian-Interfax has become the first credit bureau to declare its fulfillment of the law that every Russian citizen has the right to be provided with their credit history once a year free of charge," said Experian-Interfax General Director Nikolai Dimchenko.
"This is a serious event for our bureau, which has begun to do direct business with individuals who make use of the services of banks," he said.
"The mechanism that enables borrowers to learn what kind of information about them has been passed over to a bureau and who has asked for this information has been put in operation," Dimchenko said.
"I am sure that soon Russians will be able to experience the practical advantages that the emergence of credit bureaus in Russia is bringing along," he said.
Experian-Interfax obtained its license as a credit bureau about a month ago by being included in the Russian register of credit bureaus.
Its technical center passed all tests for compliance with Russian and international security standards.
More than 150 banks that signed agreements with the bureau have started providing Experian-Interfax with information on borrowers with the latter's consent.
Experian-Interfax was founded in October 2004. Its owners are Interfax Information Services Group, a major provider of information and services for financial markets, and the Experian company, a world leader in the provision of information and analysis for consumers, businesses and the public sector and founder of credit history bureaus in 12 countries, including the United States and Britain.
Interfax Group and Experian own equal shares in Experian-Interfax, whose task is to provide information on borrowers in order to reduce credit risks.
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