THE POWER OF INFORMATION: HISTORY OF THE CREDIT BUREAU
CIBI Information, Inc. | 27 Janunary 2017
When people mention credit the first thing that comes to mind is lending money. With a promise to pay in the future, it is an investment. It is no different than enrolling your child in a school, signing up for a gym membership, and even buying your grocery. How? Would you send your child to a school without any knowledge of the education it can provide and the environment in which the kid will grow up in? Imagine paying for a gym membership without having a reliable coach or equipment. You need information, backgrounds, reputations, and credibility. This is what a credit bureau provides in the financial industry.
A world that is driven by information can only evolve based on the quality of information it can collect and provide. Credit bureaus are becoming more and more important in increasing the quality of the financial system in the country; as they evolve, so too, will we.
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