D&B Israel yesterday announced the establishment of an Israeli consumer credit data center, after having been granted a license by the Ministry of Justice to collect and supply financial data about private individuals.
The consumer credit data facility will operate as an independent unit within the D&B Israel group, and will provide companies and organizations working with private customers with financial information about those customers.
The credit data will give enterprises a financial profile of their client, and will also track changes in their financial position.
D&B's credit data center will begin providing information only after the company has collected enough historic data to be able to provide reliable status reports about individual Israeli citizens' finances.
D&B Israel general manager Reuven Kuvent said, "Implementing the Credit Data Service Law will revolutionize the Israeli market for the good of businesses, as well as for the good of the consumer. Positive data about them will put consumers in the category of being good credit risks, increasing their leverage with credit-granting institutions, who will offer them better terms."
Also this month, Business Data Israel (BDI) received a license to operate as consumer credit data service provider. Other companies will apparently also enter the field.
Published by Globes [online], Israel business news - www.globes.co.il - on Thursday, June 16, 2005