The Credit Bureau of the Association of Serbian Banks has celebrated 20 years of operations, during which it has largely changed the everyday practices of both banks and their clients. By establishing this body, Serbia joined the circle of countries that monitor the fulfillment of financial obligations of physical and legal entities in an organised and systematised manner.
The ASB Credit Bureau is a mechanism for collecting data on the financial obligations of legal and natural persons to creditors and on their regularity in settling those obligations. Members of the Credit Bureau are all banks operating in the Republic of Serbia, all leasing companies, insurance companies, mobile operators, state funds and agencies. The Credit Bureau works according to the principle of reciprocity, which means that only members who make data from their databases available to the Credit Bureau can download complete reports for their users.
"The development of the ASB Credit Bureau has brought benefits to everyone. Banks can enter credit business with reduced risk, and they can easily introduce new services such as easy cash loans. Clients are able to meet their financing needs faster and also benefit from their positive banking history. Now a responsible client is easily distinguishable from one who does not fulfill their obligations promptly. Hence, the Association of Serbian Banks has reason to be proud of what the Credit Bureau has achieved. That is why we will continue to develop the quality of its services", said Milan Brković, Head of the Credit Bureau of the Association of Serbian Banks.
Since its establishment, the Credit Bureau has submitted almost 10 million reports on the regularity status of bank clients. The CB report can be requested at the counters of all commercial banks in Serbia, and it only takes 1 to 2 seconds to process the query and receive the report.
The anniversary of the Credit Bureau was celebrated in the Zelendata Centre in Vršac, the first ecological data centre in Serbia, together with the companies HiTeam and E-smart Systems, which provide technological support and are responsible for the promptness, speed and availability of the Credit Bureau's services.
For efficiency in work and contribution to the banking and financial system of the Republic of Serbia, the Credit Bureau received several awards from international institutions. This confirms that, in this field, the Republic of Serbia has a very efficient and modern mechanism, which is in line with the highest global standards.
