The CIS ValiData (Ongoing Project)
1. CIS ValiData Tool We are thrilled to introduce the CIS ValiData Tool – a solution designed to make credit information sharing faster, more reliable, and easier for financial institutions. If you’re wondering how this tool works and why it’s so important, let us break it down for you. 2. What Is the CIS ValiData Tool? It is a tool that helps credit providers check their credit data for errors before sending it to the credit bureaus. Think of it as a “data proofreader” that ensures everything is accurate and meets the required standards. By catching errors early, the tool …
How Technology is Transforming Credit Information Sharing
The financial ecosystem is the lifeblood of any thriving economy. At its heart lies Credit Information Sharing (CIS), a mechanism whose intention is to foster trust, transparency, and inclusivity between lenders and borrowers. However, in a rapidly evolving digital world, traditional approaches to credit data management are no longer sufficient. Technology has emerged as a game-changer, transforming CIS in ways we once only imagined. At CIS Kenya, we are leveraging technological advancements to redefine how credit information is collected, processed, validated, and shared. This transformation not only enhances efficiency but also builds trust and strengthens the financial ecosystem for all stakeholders. …
Empowering Young Women and Girls through Financial Inclusion
As the world marks the International Day of the Girl Child under the theme “Girls’ Vision for the Future,” we reflect on the dreams, aspirations, and voices of young women in Kenya. This theme conveys not only the urgency of addressing the challenges girls face but also the hope and power of their vision for a more equitable future. Central to this vision is the issue of financial inclusion, which holds immense potential to transform young women’s lives by providing them with access to credit, enabling them to pursue their dreams, and securing their place in the economic landscape. Despite …
The CBK (Digital Credit Providers) Regulations-2022
The Central Bank of Kenya (Digital Credit Providers) Regulations, 2022, were gazetted on March 18, 2022. The Regulations, which are now operational, provide for the licensing and oversight of previously unregulated Digital Credit Providers (DCPs) by CBK. You can access the CBK (Digital Credit Providers) Regulations 2022 here …
Credit Scoring for Risk-Based Pricing
Overview The use of credit scoring and the variety of scoring have increased significantly in recent years owing to better access to a wider variety of data, increased computing power and greater demand for improvements in efficiency. Credit scoring has evolved from traditional decision making of accepting or rejecting an application for credit to inclusion of other facets of the credit process such as the pricing of financial services to reflect the risk profile of the consumer or business and the setting of credit limits. This training course will explore the application of credit scoring and the effective practices for …
CIS Kenya Past Conferences 2011- 2021
CIS Kenya has conducted six conferences since 2011 and is in advance preparation stage of The 6th Africa CIS Conference. Due to Covid-19 restrictions in 2021, CIS Kenya conducted a virtual conference which attracted over 150 attendees countrywide. You can see the breakdown of CIS Kenya Past Conferences since 2011 here …
October 2021 Digest – New Dawn for CIS
Following approval of the Code of Conduct by CBK on 18th May 2021, CIS Kenya has prepared a roadmap for on-boarding third-party CIPs into the CIS mechanism in accordance with the Code of Conduct and is in discussions with CBK, all licensed credit bureaus and FSD Kenya to ensure smooth and speedy implementation. Some of the key concerns that will be addressed by the Industry code of conduct include; Data quality. Consumer protection. Customer-centricity . Download the October 2021 Digest here …
Kenya CIS Virtual Conference 2021
The Conference was organised by CIS Kenya with the endorsement of the Central Bank of Kenya and support from the World Bank Group (WBG) and Financial Sector Deepening Kenya (FSD Kenya). The theme for this year’s Conference was ‘Enhancing Resilience of the CIS Framework in the face of Crisis’. The Conference brought together the leading sector players in Kenya’s credit market to review the impact of COVID-19 pandemic and related policy and regulatory interventions to the Credit Information Sharing (CIS) mechanism in Kenya. Download Report here CBK Governor’s speech at the Kenya CIS Virtual Conference 2021 here …
June 2020 Digest – Ushering a New Regulatory Regime
The Regulations have made Risk-Based Pricing mandatory for banks and other lenders to use a customer’s credit score when appraising a credit application and in determining the interest rate to charge. CIS Kenya and CARE Risk Solutions, India organised an interactive knowledge session on Internal Credit Rating and Risk Based Pricing on 19th May 2020. Across the world, people are being asked to stay at home and practice social distancing, to stop the spread of the COVID-19 virus. We will also feature an article on how on financial institutions can mitigate on NPLs. Download …