biia newsletter issue 08 01...biia board of directors elects compliance professional jane foo as...

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BIIA NEWSLETTER ISSUE 03 II - 2019 Copyright © BIIA 2019 - For Member Internal Use Only To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected] March II - 2019 Pages 2 - 5 Pages 6 - 11 Pages 12 - 14 Pages 13 - 16 Late Breaking News: BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman. The Board also Elected Nandi Anthony, Credit Information Bureau Sri Lanka and William Lim, Credit Bureau Singapore as Directors Company Identity: US General Services Administration (GSA) Desires a Government-owned Company Identity System What is the Value of Your Business? Enterprise Value and Revenue Multiples Keep the Date: BIIA 2019 Biennial Conference Member News: TransUnion in Partnership with Giant Oak Security Screening TransUnion UK CEO Satty Saha Named Amongst Most Influential Figures in Data and Analytics TransUnion Healthcare Expands Relationship with the Healthcare Financial Management Association as an Enterprise Member TransUnion CIBIL SIDBI Report: MSME lending now Fueled by Digitization and Data Driven Decisions encompass Named as a Winner of Red Herring’s Top 100 Europe Award 2019 Experian UK: New Data Sources could Boost Financial Inclusion by 1.5 Million Equifax Canada Finds Canadians Taking Fewer Steps to Protect Personal Information Dow Jones Risk & Compliance and Dun & Bradstreet Partner on Third-party Risk Data Solutions CRIF High Mark and CreditVidya Partner to Assign Scores to Thin File Customers Industry News: Bisnode Named One of Sweden’s Best Managed Companies HG Data Launches New HG Insights Platform Bertelsmann Unit Arvato CRM and Saham Group Launch “Majorel” LiveRamp Extends Identity Link to B2B Marketers Qlik to Acquire Attunity Credit Bureau News: Successful Innovation in AI Drives Customer Success for Equifax Equifax and Gwynn Group Team up to Deliver Comprehensive Collections Management Solutions CRIF Selected by the Central Bank of The Bahamas to Establish a Credit Bureau

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Page 1: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II - 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

March II - 2019

Pages 2 - 5

Pages 6 - 11

Pages 12 - 14

Pages 13 - 16

Late Breaking News:

• BIIA Board of Directors Elects Compliance Professional Jane Foo as

Chairman. The Board also Elected Nandi Anthony, Credit Information Bureau

Sri Lanka and William Lim, Credit Bureau Singapore as Directors

• Company Identity: US General Services Administration (GSA) Desires a

Government-owned Company Identity System

• What is the Value of Your Business? Enterprise Value and Revenue Multiples

• Keep the Date: BIIA 2019 Biennial Conference

Member News:

• TransUnion in Partnership with Giant Oak – Security Screening

• TransUnion UK CEO Satty Saha Named Amongst Most Influential Figures in

Data and Analytics

• TransUnion Healthcare Expands Relationship with the Healthcare Financial

Management Association as an Enterprise Member

• TransUnion CIBIL – SIDBI Report: MSME lending now Fueled by Digitization

and Data Driven Decisions

• encompass Named as a Winner of Red Herring’s Top 100 Europe Award 2019

• Experian UK: New Data Sources could Boost Financial Inclusion by 1.5 Million

• Equifax Canada Finds Canadians Taking Fewer Steps to Protect Personal

Information

• Dow Jones Risk & Compliance and Dun & Bradstreet Partner on Third-party

Risk Data Solutions

• CRIF High Mark and CreditVidya Partner to Assign Scores to Thin File

Customers

Industry News:

• Bisnode Named One of Sweden’s Best Managed Companies

• HG Data Launches New HG Insights Platform

• Bertelsmann Unit Arvato CRM and Saham Group Launch “Majorel”

• LiveRamp Extends Identity Link to B2B Marketers

• Qlik to Acquire Attunity

Credit Bureau News:

• Successful Innovation in AI Drives Customer Success for Equifax

• Equifax and Gwynn Group Team up to Deliver Comprehensive Collections

Management Solutions

• CRIF Selected by the Central Bank of The Bahamas to Establish a Credit Bureau

Page 2: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

2

MEMBER NEWS

BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman

On March 16th the board of directors of BIIA appointed Jane Foo as a director of BIIA and Chairman for a term

of 2 years. The board also appointed Nandi Anthony, CEO of the Bureau of Sri Lanka and William Lim,

Executive Director Asia Credit Bureau Holding as directors of BIIA.

About Jane Foo: Her areas of expertise are in ethics & compliance, operational risk and audit.

Jane looks back on 20 years of experience in compliance, operational risk and audit across a

broad spectrum of banking businesses, products and services. Her past affiliations include being

a director of compliance at American Express International, Inc., Singapore. Head of compliance

– retail and wealth management divisions, ANZ Bank. Head of compliance – retail and wealth

management divisions, ABN AMRO Bank.

Now retired from her professional activities she remains active by making her expertise available

as a freelance trainer on MAS regulations and ethics with Salmon Thrust. Being a member of the

Caritas Board of Trustees. She is a member, Caritas Advocacy & Research Committee and being a facilitator &

moderator at Caritas conferences. She holds an LLB (Hons), University of London; B. Soc Science (2nd Uppers),

University Science Malaysia

About Nandi Anthony: Nandi Anthony Director/General Manager at (CRIB) The Credit

Information Bureau of Sri Lanka Nandi Anthony (FCMA, MBA Sri J.) is the Director, General

Manager of the Credit Information Bureau of Sri Lanka. He also serves as a member of the

Financial Stability Committee and functions as a Task Force Head in the Ease of Doing Business

team.

His career spans over 25 years in the Financial Sector, with a proven track record of extensive

Senior Management Experience at a leading foreign Commercial Bank, Investment and Merchant

Banks and as Head of Finance in leading stock broking and Investment Management houses in the country. He is a

Fellow of the Chartered Institute of Management Accountants (FCMA), UK and has a Master of Business

Administration (MBA) degree from the University of Sri Jayewardenepura, Sri Lanka. He is also an ACI certified

Financial Markets Dealer and Licensed Stock Broker.

About William Lim Wah Liang: He is the Executive Director in Credit Bureau Singapore (CBS).

He was part of the team that established CBS and has been managing CBS since the

commencement of its operations in 2002. He has led the initiative to establish credit bureaus

in Asean and has successfully obtained licenses and/or approval to operate credit bureaus in

Singapore, Malaysia, Cambodia, Myanmar and Indonesia. He sits on the board of Credit Bureau

Singapore, Dun & Bradstreet Singapore, Dun & Bradstreet Malaysia (D&B), Infocredit Holdings,

Credit Bureau Cambodia, Myanmar Credit Bureau and Asia Credit Bureau. William also serves

on the Board of Advisors of the Financial Planning Association of Singapore.

A lawyer by training, he was previously with the Singapore Legal Service serving as a Deputy Registrar, Magistrate

and District Judge before leaving for private practice. His areas of legal practice included litigation, corporate law, law

of property and criminal law. He left practice to join the company in 1999.

The BIIA membership congratulates the three professionals on their appointment.

Page 3: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

3

LATE BREAKING NEWS

Company Identity: US General Services Administration (GSA) Desires a

Government-owned Company Identity System

The U.S. General Services Administration has picked Ernst & Young to come up with a new method of

identifying contractors and grant recipients — including state and local governments — breaking a long-

standing working relationship with the D-U-N-S Number.

The move will replace Dun & Bradstreet,

which has provided the Data Universal

Numbering System (DUNS) for the federal

government since 1978 - with some

interruptions and changes to the relationship

over time - as GSA’s entity validation

partner. It could also lead to a system that

makes it easier to access data about federal

grants and contracting.

That’s because DUNS numbers have always

been a proprietary system, with Dun &

Bradstreet placing restrictions on access to its

database and charging for information. The

system became ubiquitous, with hundreds of

thousands of entities using the identifiers to work with the federal government, making it a difficult system to replace.

Dun & Bradstreet’s monopoly has chafed many people over time, including the Data Coalition, an advocacy group

whose members include many tech companies that do business with government such as Esri, Booz Allen Hamilton

and Deloitte.

The Government Accountability Office found in 2012 that the spreading of DUNS throughout the federal government

had created several problems, including hampering agencies’ ability to understand the scope of their contracted work,

a lack of public control of the system and ballooning costs.

That finding led GSA to move toward a government-owned identifier, which it will call the System for Award

Management Managed Identifier (SAMMI) to perform entity validation — including routine tasks like address

confirmation — under that paradigm, the government has awarded a $41.8 million contract that could run for up to

five years to Ernst & Young. Source: GT - Government Technology

Editorial Comment: Why do Governments and Institutions like the General Services Administration and the Financial Stability

Board want their own proprietary company identifier? It is something the information industry should undertake, but in the past none

of the large information companies were willing to give up their proprietary numbering systems and the underlying company legal

addresses. Therefore, after the financial crisis of 2008 the Financial Stability Board started a foundation to create a new company

identifier called LEI (Legal Entity Identifier). Rather than working with the information industry the LEI numbering system was created

with public funding. It appears that the US General Services Administration does not want to consider the use of the LEI, rather

owning their own system. Ernst & Young is pocketing $41.8 million likely duplicating what others have developed before.

Page 4: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

4

LATE BREAKING NEWS

What is the Value of Your Business? Enterprise Value and Revenue Multiples

Here is Marlin & Associates (M&A) quarterly review of current valuations of the

business information segment labelled as Data and Analytics – Financial Services.

The recent acquisition of a private company called Attunity by Qlik may serve as the

latest yardstick of the valuation of the acquired company. Qlik paid $560mm, valuing

the company at an implied 5.9x LTM (last twelve months) revenue and 55.9x LTM

EBITDA. Paying 55.9 times EBITDA raises eyebrows, meaning that the valuation was

more than generous. Most likely the acquirer saw opportunities of future growth by

integrating the acquired company's customer bases and new value-added service

components.

In speaking about the importance of integration, Ken Marlin commented as follows: "Over the past 17+ years M&A

have advised on more than 200 successful m&a transactions. We use the term “successful” to mean that the deal

completed. But we recognize that investors and acquirers assess if a transaction was “successful” in hindsight. For

a financial sponsor, the answer eventually becomes clear. For them, it’s all about exit value. But for a strategic

acquirer the answer can be more amorphous - it’s all about whether the acquired firm added enough value to the

combined firm to justify the cost – It’s not only about the purchase price,it’s also about the distraction and the

disruption – and that means realizing “synergies”.

Dun & Bradstreet is no longer a listed company (privately held). No financials available.

To be continued on the next page

Page 5: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

5

LATE BREAKING NEWS

What is the Value of Your Business? The Value of Good Integration

Continued from Previous Page: A few months ago, EY-Parthenon put out an insightful series of articles on

successful m&a integration. They noted that [for strategic acquirers] “… the identification and realization of synergies

are at the heart of M&A value creation”. “…Synergies can be the competitive advantage in a bidding process.” And

“… they are a major part of the narrative that executives use to explain the strategic objectives of a transaction to

their own boards, shareholders and the market.” Clearly, it is the potential for synergies that can allow one strategic

to outbid another (or a financial sponsor).

One part of the EY-Parthenon article resonated particularly strongly for M&A: “… traditional deals tend to focus on

cost savings, but revenue synergies typically drive the real value, as cost savings generally allow the acquirer to

cover the deal premium and tend to be one-time albeit recurring, whereas revenue synergies can continue to

grow….”. One couldn’t agree more. Too often, one sees strategist willing to look at only potential cost synergies in

evaluating acquisition opportunities. That’s short sighted. It’s the revenue synergies that are likely to add the most

net value over time.

Facebook didn’t buy WhatsApp for $22bb to save costs; Intel didn’t buy MobilEye for $15bb to eliminate duplicate

expenses. These and most other successful Infotech m&a transactions are focused on revenue synergies. Oracle’s

$10bb purchase of PeopleSoft was all about expanding into new markets; as was Adobe’s purchase of Marketo for

$4.7bb. And for that matter, so was Walmart’s acquisition of Flipkart for $16bb and of Jet.com for $3.3bb. The same

is true in the middle market where we operate the most. As EY-Parthenon noted: “Long-term growth depends on

successful integration that drives revenue growth.” It’s all about the revenue synergies.

Courtesy of Marlin & Associates (M&A) https://www.marlinllc.com/

BIIA 2019 Biennial Conference - Keep the Date!

We thank our sponsors

Page 6: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

6

MEMBER NEWS

TransUnion in Partnership with Giant Oak – Security Screening

Logjam of Pending Security Clearances Can Be Expedited with New

Partnership

Receiving a security clearance is a critical element in the hiring process for

many jobs – especially within government agencies. With a security

clearance backlog of more than 500,000 cases in the government alone,

TransUnion (NYSE: TRU) and Giant Oak have partnered to expedite this

process while ensuring prospective employees are properly vetted.

The partnership allows for enhancements to Giant Oak’s GOST® technology, which uses proprietary machine learning

algorithms, artificial intelligence and behavioral science methods to ensure government agencies can meet the ever-

increasing demands of hiring and onboarding employees. As a result of this partnership, a government employee charged

with screening employees will now be able to conduct in one day that would normally have taken them approximately

one month. In addition to security clearance screening, the partnership allows for an expanded continuous vetting

process that can quickly identify possible employee threats on an on-going and proactive basis. The combination of

TransUnion and GOST can reduce workload for administrators by more than 90% and provide a 30x lift in productivity.

TransUnion enhances Giant Oak’s indexed publicly available electronic information (PAEI) with vital information related

to unique sets of public and proprietary data – including credit header data, criminal records and public records data. The

data is coupled with flexible analytics to help agencies detect and prevent cyber fraud, and make connections between

people, businesses, assets and locations.

TransUnion’s Public Sector division provides fraud, benefit eligibility verification, continuous evaluation services, identity

authentication, data breach response, investigation services, and other key solutions to federal, state and local

government agencies in the U.S. TransUnion’s solutions help both private and public sector organizations manage risk

and reduce costs.

About Giant Oak and GOST® solution: Government: GOST® allows government agencies to screen individuals

and organizations quickly and efficiently, as well as sort entities by threat level, making jobs easier. It is the only domain-

specific search tool enabling large-scale, high-speed screening and continuous evaluation. GOST® has been

successfully used by the Department of Defense, Department of Homeland Security, Department of State, Department

of Treasury, Law Enforcement Agencies, and non-governmental organizations (NGOs) for counter-terrorism efforts,

counter-trafficking efforts, and other national security needs.

Finance: GOST® is the fastest, most reliable negative media search tool on the market and conforms to the highest

security standards used by the financial services industry. Its sophisticated risk-scoring method targets of the most

relevant information on every customer, and can generate individual reports or a prioritized summary of thousands of

people or companies in minutes. It has been successfully used in know-your-customer (KYC), customer due diligence

(CDD), enhanced due diligence (EDD), anti-money laundering (AML), counter-threat finance, fraud and corruption

investigations, counter-terrorism, and counter-trafficking applications. Those in the financial sector tasked with screening

customers, detecting financial fraud, and preempting malicious behavior need a technology solution that makes screening

and detection more effective and efficient. With GOST you can improve compliance and mitigate risk. What used to take

hours … now only takes minutes. Source: TransUnion Press Release

Page 7: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

7

MEMBER NEWS

TransUnion UK CEO Satty Saha Named Amongst Most Influential Figures in Data and

Analytics

Satrajit “Satty” Saha, our CEO, has been named as one of the most

influential practitioners in the data and analytics industry, according to

experts at DataIQ.

The annual list recognizes those who have a genuine impact on the way data

and analytics are deployed by businesses and is testament to the pivotal role

that data now plays in powering business today.

Satty, who was appointed CEO of TransUnion UK in January, after joining

the UK business in 2018 as chief commercial officer – following a move from

TransUnion CIBIL, India – has played a major part in aligning the UK

operations with TransUnion’s successful global model.

He has spoken of his plans to introduce a number of new products to the UK market this year to provide businesses

with an even greater level of data and insight to help them succeed, whilst empowering consumers to take control of

their own data with schemes like Open Banking.

Speaking of the accolade Satty Saha said: “It’s a privilege to be recognised amongst my peers and I’m really excited

about the journey ahead for TransUnion here in the UK as we establish the full extent of our global offering.

“In particular, I’m looking forward to introducing TrueVision, our trended credit data product, to the market. This

enables us to apply our innovative analytical techniques to identify consumer behaviours not previously possible and

can improve lender and customer outcomes through more precise insights. It’s been a big success for us in other

markets globally and we’re confident it will have a similar impact here.”

David Reed, strategy director at Data IQ added: “Post-GDPR, privacy is now business-as-usual while organisations

are looking to drive out value from their investments into new data practices. In 2019, the focus is now on business

transformation and datafication, especially in sectors which have struggled with legacy issues amid heightened

competition and digital disruption.” Read Satty's interview with Data IQ here Source: TransUnion UK Press

Release

TransUnion Healthcare Expands Relationship with the Healthcare Financial

Management Association as an Enterprise Member

TransUnion Healthcare has expanded its relationship with the Healthcare Financial Management Association

(HFMA) through an enterprise membership which will be provided to its healthcare associates. Previously limited to

individuals, HFMA’s enterprise membership was developed to provide entire organizational teams with cost-

effective and easy-to-implement tools and educational resources that increase staff engagement and optimize

organizational results.

TransUnion Healthcare is part of a growing number of forward-looking healthcare organizations that recognize the

value of HFMA membership for professional development, unlimited access to financial management education,

and organizational alignment. Source: TransUnion Press Release

Page 8: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

8

MEMBER NEWS

TransUnion CIBIL – SIDBI Report: MSME lending now Fueled by Digitization and

Data Driven Decisions

Micro, Small and Medium Enterprises (MSME) sector is the most vibrant and dynamic sector

promising high growth potential for the Indian economy. Easy, quick and affordable access

to finance for the MSMEs therefore becomes a priority towards strengthening this sector

further. Digitization and data driven decisions have significantly helped drive profitable

lending and access to finance for the MSME sector and can further help in fueling growth.

The latest TransUnion CIBIL- SIDBI MSME Pulse Report shows that commercial credit

growth recovery continues at 13.5% YOY growth in the September 18 quarter. The report further states that the total

on-balance sheet credit exposure in India stood at Rs 105.5 lakh crores as of September 18 of which MSME credit

accounts for Rs 24.7 lakh crores, including credit to MSME entities and credit to individuals for business purposes.

Data analytics and digitization have also helped drive access to credit for MSMEs as recent market-sizing analysis

indicates that commercial credit information already accounts for a very material portion of all lending in the MSME

space today. Insights from TransUnion CIBIL shows that over 6.5 million businesses have taken loans from the

banking sector for business.

In addition, over 15 million businesses have taken formal credit from the banking system in personal capacity.

Commercial credit growth recovery continues at 13.5% YOY growth in the Sep'18 quarter. The report further states

that the total on-balance sheet credit exposure in India stood at Rs 105.5 lakh crores as of Sep'18 of which MSME

credit accounts for Rs 24.7 lakh crores, including credit to MSME entities and credit to individuals for business

purposes. Source: Economic Times

encompass Named as a Winner of Red Herring’s Top 100 Europe Award 2019

In February 2019 in Amsterdam, Red Herring has brought together 250 C-level technology entrepreneurs,

corporate strategists, and venture financiers from across the continent.

Explaining just how difficult it was to select this year’s winners, and why encompass was chosen to receive the

accolade, Alex Vieux, publisher and CEO of Red Herring, said: “In 2019, selecting the top achievers was by no means

a small feat. In fact, we had the toughest time in years because so many entrepreneurs had crossed significant

milestones so early in the European tech ecosystem. But, after much thought, rigorous contemplation and discussion,

we narrowed our list down from hundreds of candidates from across Europe to the Top 100 winners.

We believe encompass embodies the vision, drive and innovation that define a successful entrepreneurial venture.

encompass should be proud of its accomplishment as the competition was very strong.”

Ed Lloyd, Executive Vice President, Global Sales & Marketing at encompass, commented: “Being recognized in this

way, and following in the footsteps of such illustrious company, is a significant achievement for encompass. It is one

which underlines and rewards our commitment to innovation and agile development as we continue to grow and bring

new solutions to market. It also acknowledges the fact that we put our customers at the heart of everything we do,

with a focus on building close, ongoing relationships and responding to their wants and needs.” Source: encompass

Press Release

Page 9: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

9

MEMBER NEWS

Experian UK: New Data Sources Could Boost Financial Inclusion by 1.5 Million

Rental payments, combined with utilities and Open Banking data has the potential to inform better decisions and

enable greater access to mainstream financial services

Experian has targeted radically reducing the UK’s ‘Invisible’ population by harnessing the potential of new data

sources, which can help organizations make more informed decisions.

Research from Experian identified 5.8 million people in the UK who are virtually invisible to the credit economy because

there is little or no information available on their financial track record.

In the absence of sufficient information to make a decision, these Invisibles can either be excluded from mainstream

financial services, or be forced to pay a premium on products such as loans, credit cards and mortgages.

Experian’s new report, “Making the invisible visible: Exploring the power of new data sources”, details the progress

which has already been made to reduce the Invisible population. Adding data from social housing tenants through the

Rental Exchange, along with data from utilities companies and high cost credit providers has brought the number down

by 765,000.

Analysis shows that by adding private rental, council tax and data from the remaining utilities companies to the bureau,

the Invisible population could be reduced by a further 960,000. Using Open Banking data on top of this, compared to

where we are today, could bring the total down by 1.52 million people overall.

Charles Butterworth, Managing Director UKI & EMEA at Experian, said: “Great

strides have been made in the last decade to make it quicker and easier to apply for

everyday financial products such as credit cards, loans and even mortgages. Yet our

research shows that for the Invisible population of nearly six million, the reality is these

services can remain so far out of reach.

“We believe adding new and more appropriate data sources can, in time, reduce the

UK’s Invisible population significantly. Our objective is to work with industry to unlock

these sources, allowing mainstream lenders to better understand a new group of

potential customers who, up until now, they have struggled to serve.”

The UK’s Invisible population is primarily composed of:

• Young people who have not yet established a credit history

• Older people who may not have used credit for a long time

• The ‘unbanked’ who have no relationship with financial services

• Recent immigrants or returning expats who have no credit history in the UK

• People struggling to make ends meet who rely mostly on cash-based transactions

Read the new whitepaper, Making the invisible visible: Exploring the power of new data sources, here. Source: Experian

Press Release

Did you know: The BIIA database contains 10,500 articles representing a treasure-trove of information on

industry trends. During the past month 4,749 unique visors accessed biia.com viewing 20,298 pages

Page 10: BIIA NEWSLETTER ISSUE 08 01...BIIA Board of Directors Elects Compliance Professional Jane Foo as Chairman ... Nandi Anthony Director/General Manager at (CRIB) The Credit Information

BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

10

MEMBER NEWS

Equifax Canada Finds Canadians Taking Fewer Steps to Protect Personal Information

Equifax data suggests fraud and identity theft is on the

rise, but millennials remain less concerned

Fewer Canadians are double-checking their financial

statements, shredding personal documents, or installing

security software on their computers despite the increased

threat of fraud and identity theft, according to Equifax Canada.

Data flagged by financial institutions and tracked by Equifax

Canada also found that:

• Attempts of credit card fraud have increased by 42 per

cent over the last two years;

• Millennials were targeted in 48 per cent of all fraudulent

credit card applications in 2018; and

• Suspected true name fraud (when an identity thief poses as a real person in completing a credit application) has

also increased by 84 percent over the last five years.

Survey Results: Millennials are Less Concerned - The survey found that consumers were doing more in two areas:

sharing less on social media (up 43 per cent from 39 percent) and more people are checking their credit reports (up

to 28 per cent from 21 per cent). Surprisingly, millennials checked their credit reports more than any other age group

(29 per cent).

Survey Results: Complacency Concerns - Nearly four-in-ten or 37 per cent of Canadians say they have been

victims of identity theft or fraud at some point, and the overwhelming majority of consumers surveyed (88 per cent)

have taken some steps to protect their personal information. Those numbers, however, are declining as only 59 per

cent of survey respondents double-checked their credit card statements compared to 65 per cent two years ago when

Equifax conducted a similar survey. Likewise, people are shredding documents less with a drop from 57 per cent to

52 per cent and only 35 per cent have updated their security software on their computer compared to 42 per cent in

2017.

Fraud alerts are an effective way to help identify suspicious activity and help consumers better protect themselves

against identity theft. A fraud alert is a notice that is placed on your credit reports that alerts credit card companies and

others who may extend you credit that you may have been a victim of fraud, including identity theft. Consumers can

place a fraud alert on their Equifax credit reports by calling: 1-866-828-5961.

Equifax surveyed 1,565 Canadians ages 18-65, Feb. 1-4. A probability sample of the same size would yield a margin

of error of +/- 2.5%, 19 times out of 20. To read the full report click on the link below Source: Equifax Press

Release

Keep the Date: October 30th to November 01st 2019 BIIA 2019 Biennial Conference Okura Prestige Hotel, Bangkok, Thailand

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any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

11

MEMBER NEWS Dow Jones Risk & Compliance and Dun & Bradstreet Partner on Third-party Risk Data Solutions

Dow Jones Risk & Compliance and Dun & Bradstreet have agreed to utilize their best-in-class datasets to enhance

their respective risk management and regulatory compliance solutions.

Dow Jones Risk & Compliance will make Dun & Bradstreet’s beneficial ownership data available through its web-

based platform, RiskCenter, or via API. Dun & Bradstreet’s Data Cloud, which draws from over 300 million verified

business records, will augment proprietary Dow Jones data, providing customers with a more complete picture of entity

and individual-level share ownership. Additionally, Dun & Bradstreet will integrate Dow Jones data related to sanctions

risk, negative news, politically exposed persons and state owned-entities into its suite of compliance products,

optimizing due-diligence screening available to customers.

Guy Harrison, General Manager at Dow Jones Risk & Compliance, said: “Offering Dun & Bradstreet’s company data

within our platform will help our customers save time, simplify their workflows, and more

effectively protect themselves from exposure to risk. “This partnership speaks to the mutual

respect and recognition that Dow Jones and Dun & Bradstreet have for each other’s expertise.

We are confident the combined strength of our data will raise the bar across the industry.”

“The data exchange between Dun & Bradstreet and Dow Jones will benefit our customers who

rely on us to help with a more efficient, accurate and cost-effective third-party screening,” said

Brian Alster, global head of Supply & Compliance at Dun & Bradstreet.

“And we’re pleased to be the Beneficial Ownership data provider to Dow

Jones, which can help relieve some compliance burden and fast-track standard onboarding.”

About Dow Jones Risk & Compliance: Dow Jones Risk & Compliance is a global provider

of third-party risk management and regulatory compliance solutions. Working with clients

across the globe, it delivers research tools and outsourced services for on-boarding, vetting

and investigation to help companies comply with anti-money laundering, anti-bribery, corruption

and economic sanctions regulation in mitigating third party risk. Dow Jones is a division of News Corp (Nasdaq: NWS,

NWSA; ASX: NWS, NWSLV). Source: Globenewswire.com

CRIF High Mark and CreditVidya Partner to Assign Scores to Thin File Customers

CRIF High Mark, a leading credit bureau licensed by the RBI, and CreditVidya, the leader in alternative data-

based credit assessment, announced a strategic tie-up to provide lenders with credit scoring even for new-

to-credit and ‘thin-file’ customers. By joining forces, CreditVidya and CRIF High Mark seek to help banks and

NBFCs provide reasonably-priced credit to the large section of millions of financially underserved. The partnership is

designed to help banks and NBFC’s to expand their coverage of unsecured retail loans significantly, by leveraging the

power of alternative data to underwrite new-to-credit individuals profitably.

Lenders in India and across the world have been looking at ways of extending the coverage of loans while maintaining

good portfolio quality. To this end, the partnership between CreditVidya and CRIF will enable access to institutional

credit to the hundreds of millions of underserved and promises to transform the retail credit landscape. Source:

Finextra.com

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Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

12

INDUSTRY NEWS

Bisnode Named One of Sweden’s Best Managed Companies

Bisnode has been named one of Sweden's Best Managed

Companies for 2019, a recognition sponsored by Deloitte in

collaboration with Nasdaq.

The award is based on criteria that assess Bisnode’s strategic focus,

the company's operational capacity, corporate culture and the

economic development. “We have in a short time gone from being

several companies with different cultures and strategies to

becoming one Bisnode with a common strategic agenda and clear

processes. Our vision is clear: We shall be the European leader in

smart data and analysis. The fact that we now are recognized as

one of Sweden’s best managed companies is of course a fine

acknowledgement that we are on the right path”, says Magnus

Silfverberg, CEO of Bisnode.

The program "Best Managed Companies" was founded by Deloitte

in Canada in 1993 and has since been established in over 20

countries around the world. Sweden's Best Managed company was launched in 2018 by Deloitte in collaboration with

Nasdaq. 20 companies have participated in the application process and an independent jury has selected 12

companies that meet all quality requirements.

“There are many well-managed companies in Sweden, and it has been exciting to get in touch with some of them

through this program. We are excited to be involved in highlighting fine companies that are so important parts of the

Swedish business community, says Håkan Sjögren, independent jury member and Managing Director & Responsible

for listings at Nasdaq Stockholm. Source: Ratos

HG Data Launches New HG Insights Platform

HG Data, HG Data, the global leader in technology intelligence, announced its new HG Insights company name and

launched the new HG Insights Platform, with next generation technographics that boost business intelligence and ignite

customer growth.

HG Insights is building on its position as the world’s best technographics company, helping businesses leverage

company technology intelligence to drive sales, marketing and strategy. The new HG Insights Platform gives

customers on-demand access to the best technographics in the market, allowing businesses to easily apply company

spend, technology installs, and contract information to find new pathways to growth.

HG Insights launched the new company name and platform today with a completely new logo and modernized

website. “We wanted to elevate the look and feel of what has become an extremely sophisticated company,” says

Kineon Walker, VP of Product and Marketing of HG Insights. “No one has the quality technographics that we have,

which include the most accurate technology spend data available in the market. The new on-demand capabilities of

our HG Insights Platform are unmatched by any competitor. Our unique ability to work proactively with customers to

deliver the Holy Grail of business insights is reflected in our new name, and we’re excited to see our new HG Insights

Platform drive growth for businesses around the world.” Source: HG Insights

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BIIA NEWSLETTER ISSUE 03 II – 2019

Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: [email protected] The content of this newsletter does not necessarily reflect the opinion of BIIA and its members. BIIA is not responsible for the use which might be made of the information contained in this Newsletter. Nothing in this Newsletter implies or expresses a warranty of

any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

13

INDUSTRY NEWS

Bertelsmann Unit Arvato CRM and Saham Group Launch “Majorel”

Bertelsmann has offloaded its Arvato CRM Solutions into a 50/50

ownership venture called Majorel. The new entity has great plans

to become a world leader in CRM services. It has to be seen how

Majorel will stack up against Salesforce.

Bertelsmann and Saham Group (based in Morocco) are combining their

respective CRM businesses which means rebranding of former Arvato

CRM Solutions, Phone Group, Ecco Outsourcing and Pioneers

Outsourcing into Majorel. The combined unit will have a global presence

in 28 countries, and leading market positions in Europe, Africa and the

Middle East. Several hundred million Euros to be invested in digital capabilities and expansion in key growth markets.

Thomas Mackenbrock, Chief Executive Officer of newly created customer experience services group ‘Majorel’, has

formally launched the new brand with an ambitious statement of intent on its global growth strategy. Majorel, which

has more than 48,000 employees in 28 countries worldwide, is a leading player in Europe, Middle East and Africa and

has a strong presence in Asia and the Americas. Early this year the company was formed by combining the worldwide

customer service businesses of Bertelsmann, the international media, services, and education company, and

Morocco's Saham Group.

The business is aiming for a leading position in the global customer experience industry by investing heavily in its

regional network and digital customer engagement capabilities. It plans to invest several hundred million Euros over

the course of the coming years in geographical expansion and in digital capabilities and solutions including analytics,

artificial intelligence (AI) and automation.

The formation of Majorel came about in response to seismic changes that are happening in the customer experience

industry, driven by the rapidly evolving digital landscape. Research carried out on behalf of the company shows that

within the next years, up to a quarter of existing contact center interactions could be handled by automated

technologies, with this figure potentially rising to almost half by 2027. This rise will be mirrored by a massive overall

increase in customer interactions. Many of those will be handled completely automatically or in self-service, but also

an increasing number by ‘tech-enabled’ humans. Source: Bertelsmann Press Release

LiveRamp Extends Identity Link to B2B Marketers

LiveRamp® (NYSE: RAMP), the identity platform powering exceptional experiences, today launched LiveRamp B2B,

extending its IdentityLink™ identity resolution platform to business-to-business (B2B) marketers. LiveRamp B2B is a

global suite of solutions tailor-made for B2B marketers, enabling greater marketing efficiency, precision and reach

than ever before.

Built on top of LiveRamp’s best-in-class solutions for B2C marketers, LiveRamp B2B empowers B2B marketers to

activate their first-party data, access the best third-party audiences globally, and measure the impact of their

marketing initiatives, all in a privacy-conscious way. Together, these solutions provide a true omnichannel view of the

B2B customer, which in turn ensures that people receive personalized messages that aid in the discovery of relevant

products and services for their professional lives with control, transparency, and choice. To read the full story click here

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any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

14

INDUSTRY NEWS

Qlik to Acquire Attunity

Qlik®, a leader in data analytics, and Attunity Ltd. (NasdaqCM: ATTU), a

leading provider of data integration and big data management software

solutions, announced that the two companies signed a definitive

agreement under which Qlik will acquire Attunity.

Building on Qlik’s recent acquisition of Podium Data and the introduction of Qlik

Data Catalyst, Attunity provides cross-platform data streaming capabilities to

support a shift to cloud and real-time analytics. This acquisition further

differentiates Qlik by providing an expanded breadth of enterprise data management capabilities and adds an

experienced team of data professionals. Consistent with Qlik’s vision for 3rd generation business intelligence, a strong

data management strategy creates the foundation for an enterprise analytics strategy that drives insights and

In a world increasingly reliant on predictive analytics and artificial intelligence, seamlessly moving data in real-time

across multiple cloud environments and data lakes has become a business-critical issue. With Attunity, Qlik will provide

customers with an expanded enterprise data management solution to transform their raw data into a governed,

analytics-aware information resource.

Building on Qlik’s extensive partner ecosystem, this acquisition will pull in Attunity’s partner network, further expanding

Qlik’s go-to-market reach and strengthening its data lake management and cloud infrastructure partnerships, including

Microsoft, Amazon AWS, Cloudera and Snowflake.

Valuation: Acquisition price: $560mm, valuing the company at an implied 5.9x LTM revenue and 55.9x LTM

EBITDA

About Attunity: Attunity is a leading provider of data integration and big data management software solutions that

enable availability, delivery and management of data across heterogeneous enterprise platforms, organizations and

the cloud. Attunity’s software solutions include data replication and distribution, test data management, change data

capture (CDC), data connectivity, enterprise file replication (EFR), managed file transfer (MFT), data warehouse

automation, data usage analytics and cloud data delivery.

Attunity has supplied innovative software solutions to its enterprise-class customers for over 20 years and has

successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly

through various partners such as Microsoft, Oracle, IBM and Hewlett Packard Enterprise. Headquartered in Boston,

Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local

partners. For more information, visit www.attunity.com or our blog and join our community

on Twitter, Facebook, LinkedIn and YouTube.

About Qlik: Qlik’s vision is a data-literate world, one where everyone can use data to solve their most challenging

problems. Only Qlik’s end-to-end data management and analytics platform brings together all of an organization’s data

from any source, enabling people at any skill level to use their curiosity to uncover new insights. Companies use Qlik

to see more deeply into customer behavior, reinvent business processes, discover new revenue streams, and balance

risk and reward. Qlik does business in more than 100 countries and serves over 48,000 customers around the world.

Source: Qlik Press Release

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any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

15

CREDIT BUREAU NEWS

Successful Innovation in AI Drives Customer Success for Equifax

Equifax Inc. (NYSE: EFX), a global data, analytics and technology company, launched its patented

NeuroDecision® Technology and other innovations in explainable artificial intelligence (AI) and machine learning

in 2018. Agile, cross-industry customers interested in better data, insights

and outcomes are engaged and currently seeing powerful results.

As examples, a deep subprime lender and a retailer were both using

outdated risk models, which they replaced with a combination of

proprietary and differentiated data and machine learning technology from

Equifax to build configurable, high-performing next generation models.

The new models helped the subprime lender approve 92,000 more

accounts without increasing losses. Instead, the lender delivered a

massive $13.7 million in annual loss savings. The retailer compared risk

models, implemented an improved solution, and received a double-digit

performance lift that drove $65 million growth in incremental loans.

The innovations in AI have propelled Equifax data scientists to better connect the company's unique data and

analytic techniques with the specific needs of customers. In addition to NeuroDecision Technology, Equifax has

filed for multiple other patents recently; including new technologies related to synthetic IDs, interactive attributes,

open data consent, gradient boosted machines and more.

"In recent years, the volume of data available and computing power has increased vastly, allowing us to use AI

algorithms to extract new value from big data," said Prasanna Dhoré, chief data and analytics officer for Equifax.

"We're glad to be at the forefront of creating new technologies that are more inclusive to people generally seen

as credit invisible or underbanked. The end goal of these patent-pending technologies is to help people live their

financial best." Source: Equifax Inc.

Equifax and Gwynn Group Team up to Deliver Comprehensive Collections

Management Solution

Equifax Inc. (NYSE: EFX) and Gwynn Group, Inc. today announced a strategic collaboration to deliver a

comprehensive collections management solution that guides users efficiently through the resolution of any case

via an intuitive user interface. The accounts receivable (AR) management solution supports the entire collections

lifecycle by providing insights into the progress of agents and third-party vendors and case communications from

multiple devices.

With the ability to leverage powerful, differentiated data from Equifax, Gwynn Group's AR management solution,

Kenekt, is uniquely positioned to support call center operations and the management of the entire collections

lifecycle. The solution offers clients an even more intuitive case resolution process utilizing advanced machine

learning algorithms, detailed and actionable reporting and analytics, and strategy optimization capabilities. With

a mutual goal of optimizing the creditor's earning potential, this new partnership is poised to increase recovery

potential and reduce recovery costs. Source: Equifax Press Release

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any kind. Neither will BIIA be responsible for any errors. To unsubscribe: Contact [email protected]

16

CREDIT BUREAU NEWS

CRIF Selected by the Central Bank of The Bahamas to Establish Credit Bureau

CRIF has been selected by the Central Bank of The Bahamas through an

international tender process launched in April 2018 and has been invited to

apply for a license to establish and operate the first private credit bureau in the

jurisdiction. Following the evaluation process, CRIF was chosen as a strategic

partner thanks to its proven track record in the development of credit

information systems worldwide.

The upcoming private credit bureau will manage credit information sent by

Bahamian organizations through an advanced technology platform, which will

integrate and consolidate all data on the reliability of a

credit applicant into a single report. The formal licensing

process has started and will lead to the set-up of a wholly-

owned local company in charge of market management.

The local entity will operate under the supervision of the Central Bank of The Bahamas.

The Bahamas, with a population of 395,361, has the second highest per capita GDP in the English-

speaking Caribbean, with an economy heavily dependent on tourism and financial services

(source: cia.gov). In this economic scenario, the establishment of a credit bureau will help develop

the local credit market, allowing SMEs and consumers to move to a more advanced market based on credit references.

At the same time, thanks to the availability of comprehensive and updated credit information, lenders will be able to

deliver financial services at significantly reduced costs and expand the credit offer to the consumer and SME segments

of the economy.

“We are very proud of our selection by the Central Bank of The Bahamas. As we have already

experienced in many other countries, the evolution of the economic framework heavily depends

on the availability of effective information systems, which streamline credit risk management and

consequently support the financial needs of businesses and consumers. We firmly believe that

the credit bureau will facilitate access to credit for Bahamian businesses and consumers”,

commented Carlo Gherardi, President of CRIF.

“CRIF’s commitment is to help lenders make more accurate decisions based on a detailed credit profile of borrowers

and improve their risk management. On the other hand, businesses and consumers will benefit from a faster and more

reliable lending process, which will facilitate access to credit. A credit bureau is a country-sized project which involves

all possible the relevant beneficiaries and users, and CRIF demonstrated in many countries the ability to bring value

in such kind of projects”, explained Davide Michele Meo, CRIF Sales and Direct Markets Director. Source: CRIF

Press Release

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