A changing landscape...

The World Bank supports a multiple, commercial, and competing credit bureaux model. Bureaux generally gather the same data assets and compete on their data quality, matching and on their tools for interpretation of the data, and as such, competition drives pricing and innovation. 

Experian is committed to building a world class credit bureau in the Republic of Ireland.  To that end we have engaged with industry sectors (from banks to telecommuncations companies), consumer groups, political parties, Department of Finance and regulators over the past year with a view to enhancing the data sharing landscape in the Republic of Ireland.

Experian has run a Consumer Credit Bureau in the Republic of Ireland for over 7 years, holding a combination of mail order, bank and public data assets (e.g. court judgments).  Wider data sharing or sharing across multiple sectors, while common in some countries isn’t yet established in Ireland.

Legislative, regulatory and operational change is required in order to achieve a bureau model similar to that recommended by the World Bank. Significant steps will be taken in 2011 to move towards a more comprehensive and competitive model that will benefit the consumers, business and the economy as a whole.  We would like to keep you informed of any and all developments in this area.  Please read on by clicking through on the links to the right of this page.

If you are ready to share credit data or would like to know what is involved please don't hesitate to contact us.

Financial institutions (Bank, Credit Union, etc) and mail order companies are permitted to share consumer credit agreements, where adequate consent to share data has been obtained, with Experian's Bureau right now.  Regulatory bodies are encouraging lenders to share all credit agreements and the ongoing performance of these credit agreements as soon as possible.  In order to provide world class identity verification, anti fraud and scoring solutions, sharing historical data, where available, is also important.

While data is not currently shared amongst Telecommunication/Utility companies, the World Bank recommends that all credit agreements from as many sectors as possible be shared with commercially operated, privately owned, credit reference agencies. There are significant benefits to the consumer and the economy as a whole. We are lobbying hard to facilitate the development of a world class comprehensive bureau in the Republic of Ireland and we feel the data sharing landscape in Ireland will broaden out to include these sectors over the next year as commercial, legislative and regulatory challenges are overcome. 

Please contact us if you would like to discuss any of the above mentioned items in more detail or you would like further information on (1) our current bureau offering; (2) development plans.

Share your credit agreement data with Experian

Experian is the largest operator of credit bureaux in the world

Experian operates 16 credit bureaux across the major global markets including USA, UK, Brazil, India. The World Bank and the IFC have recommended Experian as a point of expertise on Credit Reference Agency feasibility, set-up and operation.  We are committed to developing a world class credit bureau to service the Irish market.

Are you ready to share your credit data with Experian?

Experian Ireland is ready, willing and able to take your monthly ICB files and convert them to our required database layout.  Please contact us for more information.

Central Bank & Financial Services Authority

Publications & Speeches

The Central Bank & Financial Services Authority of Ireland has issued a number of documents/spoken at a number of industry events relating to their new approach to banking supervision, the economy, financial stability and consumer indebtedness.  Credit data sharing has been highlighted as having a valuable part to play in financial reform.  Please navigate to www.ifsra.ie and select publications/ speeches for more information.