Displaying items by tag: credit checking

On Feburary 22nd, the Credit Union, also known by its official name “Baihang Credit”, has finally received its business license from the government which is also the first individual credit checking license.

An efficient credit checking system is critical for the development of retail financial services. But in China, the individual credit system is not as advanced as the ones in US or Europe with the People's Bank of China (PBOC) credit system covering only about 25% of the entire Chinese population. The lack of credit investigation system creates a major issue for the risk control process of the financial services, especially on the inclusive finance side.