This Maltese Company Has Become The First To Achieve Their Credit Reference Agency License
The Central Bank of Malta, following the Trade Licensing Act (Cap 441) – Trade Licenses Regulation, 2018 (S.L. 441.07) and Directive No. 15, entitled ‘Supervision of Credit Reference Agencies’, has awarded Creditinfo Malta as the first, and only, credit bureau in Malta.
This means that Creditinfo Malta can begin working on the very first Credit Bureau Scoring Model in Malta. Working with local banks and other lenders, these companies will be able to create dedicated scoring products and strategies unique to each lender.
Consumers in smaller markets, such as Malta, hold a lack of information about their credit history. This means that people from such markets are less likely to obtain funds in those larger markets.
Here’s a quick explainer of how this works
Thanks to Creditinfo Malta, people can now have access to a whole range of information about the market as a whole.
By having an officially licensed credit bureau, consumers and businesses alike can take on a more holistic approach when it comes to borrowing and any other financial decisions.
After all, de-risking the entire credit market space means that better-informed credit decisions can be made.
Now that Creditinfo Malta will be handling all of this, they are in charge of scaling these management solutions when it comes to the Maltese market. Supporting the future economic growth and encouraging a thriving business community, Creditinfo Malta is leading the way into a safer financial market.
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