More Personal Data in Banks

Securing Data

Securing Data

Today, the Credit Information Bureau (BIK) is the enemy of anyone who has ever sinned by being late in repaying credit cards or the suchlike. Banks always check BIK before granting a new loan in order to find out what kind of client they are dealing with. If the client is a ‘sinner’ then they refuse or dictate high interest rates. If the client is a reliable payer then the vault door is open. However, upcoming changes in business information bureaus (BIG), i.e. debtor ‘black lists’, may change all this. BIGs are private companies that collect information on unreliable payers under a special law. One can find oneself on the list for an unpaid phone bill or unpaid rent. Unlike BIK, BIG is required to remove individuals from the database soon after the payment of the debt. However, last year BIGs decided to also collect positive data, which means they collect data about clients who pay invoices on time. For instance, Infomonitor BIG acquires data about customers of telecom companies, stores and provides this data to BIK. BIK can then take this data into account when calculating the creditworthiness of a client applying for a mortgage. The result is that you may have a good credit history but if you had payment problems in a telecom company because you did not pay an invoice on time then the bank may consider you untrustworthy. Telecoms cannot transfer your data to BIK without your permission, and it is usually included in the small print in your contract which you usually sign. If you sign this consent banks will know whether you pay your phone bills on time and your phone network operator will know your creditworthiness.
wyborcza.biz

Get Newzar directly by email

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s