What is the SME Credit Bureau? 

The SME Credit Bureau is essentially a facility for the exchange of credit information on SMEs among subscribing members. 

What are the objectives of the SME Credit Bureau? 

The Bureau aims to provide relevant information on SMEs to its subscribers who are credit grantors so as to facilitate their credit evaluation and credit decision-making. Indirectly, the Bureau's products and services can assist SMEs to obtain wider and faster access to financing. SMEs can also benefit from using the Bureau's reports as a self-evaluation tool. 

Who are eligible to subscribe to the Bureau?  

Financial institutions, SMEs and other enterprises in general are eligible to be subscribers to the Bureau. 

What does membership mean? 

Subscription membership comes with rights and obligations. As the SME Credit Bureau operates on the principle of reciprocity, members are required to contribute data to the centralized database. In return, members would be entitled to access the information made available by themselves and others. 

How can an entity become a member? 

An interested entity may apply to the SME Credit Bureau to be a member. The application may be submitted on-line via the Bureau's Enterprise Portal or the application documents may be mailed or faxed to the Bureau. Acceptance of the application would be subject to a due diligence check by the Bureau. 

What are the benefits for members? 

Members would benefit in a number of ways:
(a) Fast hassle-free access to more comprehensive information of a prospective or existing SME customer, including a credit rating;
(b) Convenient tool to help determine the risk profile of an SME in a timely manner;
(c) Reduced repayment risk for everyone involved. 

Is it possible to access information without membership? 

Non-members may only have access to public information albeit in a more convenient manner. 

What are the products and services offered by the SME Credit Bureau? 

Business Information Report (BIR)
The report includes :
Registry information
Statistical information
- availability of trade credit information
- no. of enquiries on the subject

Business Information Report Premium (BIR Premium)
The report includes :
Registry information (on-line extraction)
Statistical information
- availability of trade credit information
- no. of enquiries on the subject

Business Review Report (BRR)
The report includes:
SME Credit Risk Rating
Registry information
Trade credit
Enquiry details

Credit Risk Report (CRR) - For Financial Institutions Only
The report includes:
SME Credit Risk Rating
Registry information
Banking information
Trade Credit
Enquiry details

Credit Risk Report Premium (CRR Premium) - For Financial Instituitions Only
The report includes:
SME Credit Risk Rating
Registry information (on-line extraction)
Banking information
Trade Credit
Enquiry details
 

What is the coverage of the contents in Bureau reports? 

The Bureau would be compiling data from a number of sources. Information to be made available in bureau reports includes the SME profile, trade credit, loan financing, financials (where available), credit ratings and enquiry details. The contents of different reports would vary according to the information. 

How does a member retrieve a Bureau report? 

Two ways to retrieve a report are available:
(a) Browser-based application; and
(b) B2B interface, for higher volume retrievals. Both are on-line and provide real-time access. In addition, the Bureau can deliver reports by e-mail, fax and mail, subject to verification of the user and if so required by the user. 

How long does it take to retrieve a report? 

The Bureau's system is expected to generate a prompt response. 

How does the SME Credit Bureau ensure data integrity?  

The Bureau collects data only from reliable sources or authorities. Even then, the data are subject to validation checks and scrubbing procedures. In addition, data analysis would be undertaken to check on the stability of data. Processes are in place to ensure that prompt action is taken to rectify confirmed errors or inaccuracies. 

Can you brief us on the rating process and procedure from the point a credit score or rating is requested up to the point the rating is given? 

The rating model is developed based on the population of the bureau database. The modeling process assesses many attributes of the credit file to establish which attributes can be used as a predictor of risk. Once the model is defined, weightings are built into a scoring engine on the bureau platform. Each enquiry that is processed is then passed through the scoring engine in order to calculate the rating real-time.