Credit Bureau Singapore, Experian Malaysia To Develop Cross-Border Credit Reporting Service
KUALA LUMPUR, June 10 (Bernama) -- Credit Bureau (Singapore) Pte Ltd (CBS) and Experian Information Services (Malaysia) Sdn Bhd (Experian Malaysia) plan to develop a two-way cross-border credit reporting service between Malaysia and Singapore.
In a joint statement, the companies said they have signed a memorandum of understanding (MoU) that establishes a framework for collaboration to facilitate consented cross-border credit report applications for individuals with financial footprints in either country.
“The initiative aims to enhance financial inclusion, strengthen credit risk assessment, and support the growing economic integration between the two neighbouring markets,” they said.
For consumers, the initiative is expected to improve access to financial products by enabling lenders to consider verified credit histories of individuals from across the border.
“This may particularly benefit digital-native workers, entrepreneurs and professionals whose financial footprints span both jurisdictions,” the statement said.
For financial institutions, it said that access to cross-border credit data can provide a more holistic view of an applicant’s financial obligations, supporting stronger digital underwriting, reduced cross-border fraud risk and more confident expansion into adjacent markets.
“Improved cross-border data transparency may also enhance operational efficiency and portfolio resilience in increasingly digital lending environments,” it added.
CBS is a joint venture between the Association of Banks in Singapore and Infocredit Holdings Pte Ltd. It has also been designated by Singapore’s Ministry of Law as the operator of the Moneylenders Credit Bureau.
-- BERNAMA