Wednesday, April 6 2011 19:16
ACRA Credit Bureau launches ACRA-Score system
ArmInfo. On April 4 the ACRA Credit Bureau launched an ACRA-Score system (behavioral scoring system). The press service of ACRA told ArmInfo that by the decision of the Board of Directors of ACRA, the services will be provided free of charge within the next two months.
According to the source, from now on the banks and credit companies can check online the assessment of the customers' borrowing power. The two main indicators of score are descriptive and forecasting scores. In particular, the descriptive score characterizes the credit history of the borrower, taking into account the current loan debt burden, overdue liabilities, the period of the credit history; and the forecasting score characterizes the borrowing power for the near future, taking into account the package of the specific credit history, behavior and description of the borrowers.
The introduction of the scoring system will give an opportunity to the creditor organizations to promptly and accurately assess the borrowing power of the customers, which will allow enhancing the efficiency of the crediting process.
Earlier Artak Arzoyan, ACRA Executive Director told ArmInfo that the behavioral scoring system became especially relevant after the banks toughened the requirements to borrowers. "To introduce Behavioral Scoring 40 million drams were spent on full software upgrade and re-equipment of ACRA. The best experience of corporate management meeting international standards has been introduced. Behavioral scoring is based on data of the credit bureau," he said.
"ACRA Credit Reporting" CJSC, the first private credit bureau in Armenia, was founded in January 2004 by Credentials Inc. The shareholders of the company are the Central Bank of Armenia (10%), 17 commercial banks, First Mortgage Company, Dun & Bradstreet International LTD and other companies. All the 21 commercial banks in Armenia and 22 credit companies use ACRA's services.
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