A year after the Credit Data Service Law entered into force, Dun & Bradstreet Israel (D&B Israel) has launched the Israeli Center for Credit Data website.
The site serves individuals wishing to improve their bank credit terms by requesting that positive information be gathered about their credit history.
The website, located at www.dbisrael.co.il, will provide financial information on individuals who authorize the Israeli Center for Credit Data, to gather positive information about them from financial entities and large commercial companies.
The information will enable any citizen to build a positive credit history and improve his or her position vis-à-vis the banks when filing for credit. As customary in the US and other countries where the Credit Data Law was adopted, anyone will be able to obtain better credit terms after accruing information proving that he or she is a good borrower, who promptly pays his or her loans and obligations.
D&B Israel general manager Reuven Kuvent said that the company had already started gathering negative information on consumers after obtaining the proper license. However, positive information is not collected unless a customer requires and authorizes it.
Kuvent recommended that individuals who are considered good borrowers, and who meet their obligations to lending organizations, request that positive information be gathered on them. "This is a 'card up the sleeve' for the next time that they file for credit from the bank or any other financial entity."
He added that positive report from an institution such as the Israeli Center for Consumer Credit Data, will serve as a financial certificate of good character, acknowledging that the individual meets his or her financial obligations. "Therefore, his banking credit rating will be higher, the risk to the bank will diminish and the client will be able to demand and obtain better terms."
The new Israeli Center for Credit Data website will feature a section for companies and businesses, and a separate one for individuals. Each section will include information and explanations on the Credit Data Law, rights and obligations of the companies and the individuals, according to said law, the possibility to obtain such information, etc.
In addition, the individuals' section offers business and financial information that might be obtained by credit cards payments. This way the private consumer can avoid exposure to dangerous deals with businesses which are at risk of being closed.
The Center for Consumer Credit operates as an independent entity in the framework of D&B Israel, developing and improving the consumer credit market and assimilating the standards customary worldwide.
Through the Center for Consumer Credit, D&B Israel will supply to companies and organizations working with individuals, financial information on the customer, offering a variety of advanced tools and reports, providing a whole picture on the customer's financial state, a customer follow-up service, helping the companies to manage customers' portfolios and monitor changes in their financial state, as well as advanced decision-making tools.
Published by Globes [online], Israel business news - www.globes.co.il - on Monday, August 08, 2005