U.S. consumer credit service mode of operation and

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U.S. consumer credit information services company and characteristics of the mode of operation

America has a complete personal credit system as the basis for the formation of a large-scale credit transactions. U.S. personal credit system through the investigation, we found a vibrant consumer credit services company and its unique business operations is not only the United States complete an important part of personal credit system, but also the normal operation of the U.S. credit rating system and credit transactions carried out an important safeguard. Therefore, the system introduces the company's U.S. consumer credit services business generation and development of its mode of operation of the establishment of individual credit system has an important reference. First, U.S. consumers have credit services companies and their business development U.S. consumer credit services to consumers, the company is specialized in professional personal credit investigation company, its basic job is to collect individual consumer credit records lawfully made personal credit reports of consumers, the law of qualified users to sell consumer credit report paid. the first U.S. consumer credit information services company in the United States in 1860 in Brooklyn, New York, set up, after 100 years of development, the United States has become the world's personal credit information services industry the most developed countries. But the United States is not a personal credit reporting industry is well developed in the beginning, but after a long-term development and multiple changes to reach the current level of development. (a) personal credit information services from the developed gradually developed Personal Credit Business Development United States earlier, but before World War II American Personal Credit Company business development has been slow, one very important reason is that credit trading was not developed enough. Although the Reflections upon USA began in the 19th century credit transactions, such as vendor payments in the form of monthly sales of pianos, sewing machines and automobiles and other commodities, but the United States to carry out large-scale consumer credit began in World War II, the war that people come back to buy a car buy a house, education, etc. on the huge demand accelerated the development of the credit transaction. U.S. consumer credit transactions in 1969 amounted to 110 billion U.S. dollars, 20 times 25 years ago, the end of 2001, U.S. credit card issuing volume of 1.4 billion, mortgage loans of 4.7 trillion U.S. dollars, amounted to 1.5 trillion consumer credit U.S. dollars, credit consumption has become a basic consumption patterns of Americans, almost every adult can not do without consumer credit, consumer applications for consumer credit, credit grantors are eligible for the credit needs of consumers, credit status and credit capacity evaluation, this evaluation was based primarily on personal credit reports provided by credit bureaus. The rapid expansion of the scale of credit consumption greatly promoted the development of personal credit information services, the U.S. consumer credit report personal trading volume of 1.14 billion copies a year. (b) the personal credit information services market to full competition monopolistic competition from the change since the first since the birth of consumer credit information services company, with the growing market demand, consumption by increasing the number of credit services companies, to the 20th century, more than 70 years to reach the peak of 2200, these companies provide credit to the community products and services, the market is fully competitive landscape. Subsequent development, after full competition and market selection, the U.S. personal credit information services market, the company formed a EQUIFAX, benefits Burleigh (Experian) and the Central Union of North America (Transunion) three nationwide consumer credit reporting companies, service companies as the main body, and the remaining more than 400 small, locally-based consumer credit information services company co-exist in the market. On the one hand the consumer credit service companies to maintain a competitive relationship with each other, compete with each other to promote continuous improvement of product quality and service continue to improve for the U.S. to maintain a rapid development of personal credit information services to provide an endless power. On the other hand, the consumer credit information services company competing in the full cooperation was also maintained relations not only between small companies and small companies to maintain cooperation, but also between the three major companies and small companies, three companies have each other maintain cooperative relations, the content of their cooperation not only the cooperation of information sharing, but also the industry standard and norm-setting cooperation. (c) Consumer credit information service company clients to the diversification of the financial system from the shift U.S. consumer credit information services company was originally established for the purpose of bank credit facilities. 50 years after the 20th century, consumer credit information services company dedicated to banking services has changed the situation, and gradually expand its service targets. The success of this start is the consumer credit information services company for the nation's largest retailer began shrill company. Currently, the U.S. consumer credit services company has diversified clients, including banks, credit card companies, insurance companies, retailers, utility companies, employers, leasing companies and commercial accounts collection companies, consumers and so on. (d) consumer credit service companies work from manual operation to the electronic transition 20 centuries before the age of 60, the main form of business conduct, the consumer credit services companies and other departments to send officers to banks collect personal information, and then using the original paper and card, and other statistical methods, statistics on the personal credit information, credit report form, and then to Social sale. After 60 years of the 20th century, the rapid development of electronics industry, particularly computer technology matures and computer networks, the popularity of consumer credit information services company for the information collection, database management and product sales to provide a new mode of operation. More and more consumers credit service company began to provide online services, consumer credit report was available online, for example, in 2001 TransUnion credit reports sales of paper sold 1.5 million, while sold via the Internet, electronic credit reporting to 4 billion U.S. dollars. The advantages of the Internet, information transmission and exchange more convenient, credit records and update data and more easily, the impact of consumer credit information services companies are also increasing. Currently there are 2 billion a month into the U.S. consumer information services company in the consumer credit database, if there is no development of the Internet, such large-scale information transfer impossible. (e) consumer credit information service company's products and services from a single credit report changes to the diversity U.S. consumer credit information services company product innovation has undergone a gradual process, which is market competition, the market is the result of choice. 50 years before the 20th century, U.S. consumer credit report consumer credit information service is almost the only product the company offers. After 50 years of the 20th century, the face of fierce market competition, the consumer credit services company to enhance their own competitiveness, paying attention to the development of new products and services in order to capture the market. 90 years after the 20th century, most consumers will not only credit information services company's innovative products and services as a powerful tool for customers, but also as a new profit source. U.S. consumer credit information service company's change in title reflects its product and service innovation innovation process. At first, the U.S. consumer credit information services company called the Credit Bureau (CreditBureau), together form a credit report personal information for sale, without providing other services, every company is like a gradual diversification of products and services, with the credit bureaus (CreditBureau) has been difficult to accurately describe the nature of business of such companies, so consumers from all post-2000 credit service companies basically do not have (f) regulate the consumer credit services business transformation from no laws to abide 20 century, 70 years before, there is no special legal norms imposed U.S. consumers letter service companies operate. With the growth of credit transactions and consumer credit services, business development, credit data, opening up and providing products and services will inevitably have some issues, such as the protection of consumer privacy, fair credit, honest lending and other issues. In order to protect the interests of consumers, regulate the development of personal credit information services, community norms are strongly urged the introduction of personal credit information services industry law, and in 1971 a to now, the U.S. has been developing and perfecting the law on the personal credit industry. Currently, the U.S. personal credit information services industry to form a complete system of legal framework, the personal credit information services are also well under the Regulations of operation. Second, the U.S. consumer credit information service company's business operations current U.S. consumption
next credit services companies who have formed from the collection of information, products and services integration of social development to sales of large-scale production operation, and sharp features. (a) consumer credit information services company for data collection consumer credit data collection is a consumer credit services business carried out starting point is the development of credit products and services basis. U.S. consumer credit information services company data sources are credit grantors such as banks, savings and credit institutions, credit associations (CreditUnion), bank card companies, retailers, mortgage lenders, employers, etc., accounts receivable Association government departments and professional industry associations, such as apartment rental association. At present, the Central Union (Transunion) with 7000 data provider organizations, which continuously provide data to the Central Union, so that the Central Union have the ability and the resources of 220 million consumers monthly data 12 data update . consumer credit companies to collect personal credit information of consumers work is active, do not need the consent of the consumer's consent, the majority of the consumer credit agencies are willing to take the initiative to provide consumer information by credit service companies, but the direction of consumer credit information services company providing the information provided is free, and even some information providers such as banks, credit card companies and large retailers do have specially equipped facilities and personnel. consumer credit information service company collecting consumer information through four channels, one active provider of information through the Association (such as apartments Leasing Association) and other departments on a regular basis by way of transfer line (at least 1 per month) to provide information on consumer credit services, consumer information, once updated, or a new consumer information, they immediately in accordance with the established format passed on to consumers through the credit line service companies; second initiative is a consumer credit service companies and retailers, employers, and other information providers contact, through field surveys of consumer personal information; third is through social third parties, such as government departments, public information collection are mostly provided by third parties in society, as government public information is dispersed among different government departments, consumer credit information service company based on cost considerations, generally do not want to collect their own this information, the community has some specialized agencies to collect summary information, and then paid to the consumer credit service companies; Fourth, consumer credit services from other companies to obtain, usually paid to the manner in which the consumer sign information services company's main business cooperation. U.S. consumer credit information services company data collection on consumer credit laws and regulations must be in accordance with the requirements, shall not infringe the privacy of consumers. Under U.S. law, consumer credit services to consumers, the company shall not collect the following information: check, savings and securities accounts information; driving record; criminal record; medical records; insurance; income; race, religion, political leanings. (b) consumer credit information services company in the development of credit products and services consumer credit information service company was the first credit information will be collected through the multi-channel screening procedures to become into the database, and then the information in the database for processing, the formation of credit products and services to the demand side. Data on repeated screening and processing of credit is a personal credit company's core competitiveness, therefore, each consumer credit information service company attaches great importance to the development of credit products and services. Currently, the U.S. consumer credit information services company providing products and services include three levels, namely, consumer and business credit reports, consumer credit scoring and derivative products and services. consumer and business credit reports consumer credit services company's basic products, according to their survival and development depends on the foundation. With the U.S. increasing the amount of the credit transaction, the community credit report showed a substantial increase in demand scenario, the 20th century, 70 years, the demand for roughly a year reported around 1 million copies in 2001 to 11.4 million copies, the current per banks in the payment of personal credit loans to buy consumer credit services companies are credit report, consumer credit report will be important as a basis for lending decisions, and some credit card companies will not only consumer credit report as a basis for issuing, and to As credit card holders credit monitoring tools. U.S. Consumer Credit Reporting Association (ACB, 2001 年 1 changed its name to CDIA, theConsumeDataIndustryAssociation) information provided by the U.S. consumer credit services consumer credit reporting companies to provide higher quality service in the consumer credit provided individual consumer credit report, only 0.02% of the consumer credit report errors, which led to consumer credit application was denied. Currently, the U.S. consumer credit services consumer credit report provided by the company There are three main credit reporting First, according to the U.S. Association (CDIA) standard format designed to provide the report, which is the most basic credit report, known as Form 2000, Form 2000 request personal credit report credit bureaus to provide the following information: (1) consumer credit transaction records, record consumer borrowing and repayment is chronological, positive information and negative information income credit information are recorded; (2) Public credit information records, the main collection of records of the Government to disclose the file type information, only the records of negative information, such as court records and police records of criminal punishment, records of consumer taxes, traffic violation records; ( 3) employment information records, generally provide consumers, employers, job, income, length of service, work or job changes; (4) records of personally identifiable information, offers consumers and consumer family residence, social security number, date of birth, family members and spouses, etc.; (5) query information records, including credit bureaus provide credit reports to all users of the record. The second is for the customer's specific needs, Third is the credit information service company who collected all the information a consumer credit report form integration. consumer credit service consumer credit provided by credit scoring is granted provided an important basis for credit. While the banks do not have personal credit information services company in accordance with the rate of customer loans, but if the consumer credit services to customers of a rate the company is high, banks generally give loans directly, he was no longer the customer's credit review situation, if the customer a lower score, then the bank refused to lend directly to the basic. Most U.S. companies offer consumer credit services consumer credit scoring service. derivative products and services primarily consumer credit service companies use consumer credit information resource development in addition to credit reports and credit scoring outside, and the relationship is not big consumers of other credit products and services. A wide range of derivative products and services, generally consists of two aspects: First, the demand for credit grantors and the development of derivative products and services, such as helping customers find the target customers and new business, to help customers manage their customers, help customers and its customers to establish good relations. Second, consumer demand for the development of derivative products and services, such as identity fraud for consumers EQUIFAX company developed the information changes, EQUFIX to duty within 24 hours change in the consumer's personal information via E-mail sent to consumers in order to ensure that consumers monitor their credit status at any time, the product by the U.S. Again, EQUIFAX, developed a kind of to . (c) of the U.S. consumer credit information services company production
next product sales in the United States, the sale of personal credit report has special regulations, such as Credit Reporting Act offense. However, non-credit report on sales of products and services without restrictions. the sale of credit reports are usually two ways: First, consumer credit information service company were given a specific password for each customer, the customer as needed at any time to visit the company's product library consumer credit services, cable requires collection of information, consumer credit information services company, according to the registration records to know the demand side usage to be charged accordingly. Second, the sale of paper credit report. Other products and services for the sale of derivatives, according to the performance of products and services to take a different sales approach. Third, the U.S. consumer business credit services company features (a) the market approach is the U.S. consumer credit information service company's main operating mechanism U.S. consumer credit service production and development company to meet market demand and developed, and its survival and development depends entirely on market demand, government credit services to consumers without any access restrictions on industries, markets the full survival of the fittest competition is the U.S. consumer credit information services industry to maintain the primary mechanism for running the market, commercialization is the U.S. consumer credit services to the principal mode of business operation, the Government's main responsibility is to formulate rules, regulation, establish a standard and orderly market environment and market order. (b) the independence and neutrality is the U.S. consumer credit information services company based on the book all U.S. consumer credit information services company founded by the private sector, and both from government control, but also independent of all commercial banks, is independent of the financial institutions, government departments and consumers third-party, such as the benefits Burleigh (Experian) is the British company GUS (TheGreatUniversalStores) plc, a subsidiary of GUSplc is engaged in retail, real estate investment and information consulting services holding company. EQUIFAX company is a public company listed on the New York Stock Exchange. Transunion large U.S. company is a subsidiary of Enterprise Group MarmonGroup, and MarmonGroup is a more than 50 countries to the world of products and services more than 500 non-financial group. From a practical point of view, the U.S. consumer credit service companies generally have strong independence and neutrality, and their survival and development depends on credit to provide customers with quality products and services. The basic idea is that if consumers close credit service companies and the government, people will think if they implement some kind of government will, and if and banks keep in touch, people will think that whether a certain transaction and the bank This is not conducive to the company to remain neutral, objective and impartial. It is this independence and neutrality to ensure that American consumers with higher credit service company's own credit. (c) the credit market, a strong sense of the main U.S. consumer credit services to promote business development addition to the 1966 Federal Advisory Committee Act, But in reality, information providers will be voluntary and free service provided to the consumer credit data, and even some information providers such as banks, credit card companies and large retailers to consumers when credit information services companies have to provide data equipped with specialized personnel and special equipment, but the information providers to purchase credit report, he was not reflected any benefit, such as the price of concessions. We have been puzzled, when we raised this issue to the bank, they reply to us with deep feeling. If we do not provide information, then the consumer credit industry can not develop, but they offer only partial information, and ultimately get all the information of consumers, therefore, to provide information not only their own self-interest, but also beneficial to the entire banking industry development, and this is the U.S. On the other hand, higher consumer awareness of social credit is the U.S. consumer credit services to promote business development an important factor, in the U.S., consumers are very rare and their own personal credit, they are often concerned about their credit status, it is consumer who care about their credit status, the credit company for the development of a large number of consumer credit products. (d) the continuous innovation of products and services, consumer credit information services company in the United States a major profit source the three major U.S. companies to obtain consumer credit information service on consumer basically the same credit data, credit reports are to adopt a uniform format, the credit report of their difference is not great, the competition between them, mainly reflected in the price of credit report, the price to become demand-side options Which credit information company basis. The price of consumer credit reports 70 from the 20th century fell to 2-3 USD 0.2 ~ 0.3 current U.S. dollars. According to CDIA, at present the United States, the sale of the credit report does not make money, or even lose money, consumer credit services, price competition through the sale of the company credit report's main aim is to use credit reports to keep living their customers, while maintaining the existing again based on the customer to provide further value-added services our customers rely on to provide a variety of value-added services to make money. Currently, the three major consumer credit information service company sales of derivative products and services have accounted for about 50% of the sales. Consumer credit services company's innovative products and services not only increase their profits, but also promote the development of the industry. We can imagine that, if the consumer credit information services industry generally at a loss or profit modest circumstances,[link widoczny dla zalogowanych], relying on what they maintain a huge database, relying on what is to update the data, but also depend on what the credit report to provide quality, then the prospects for the development of the industry it can be imagined. (e) a large database and advanced software system is the U.S. consumer credit business development services company based protection the three major U.S. consumer credit services companies are the world level of personal credit management company, has a large database, the database not only has a lot of consumer information, and the collection of information for each consumer are more comprehensive, and to ensure the timely update of data. If the company benefits Burley (Experian) database has more than 200 million consumer credit information, the average consumer has 400 items of information, an average of 17 transaction records to be updated at least monthly transactions 1000000000 . On the other hand, the three major U.S. consumer credit service companies have highly sophisticated information retrieval and integration of software, both to ensure the information seekers to find the information they need, but also to ensure that the query results need to query information match exactly. Can be said that high-quality consumer credit data quality (accuracy, integrity, continuity), and customers can more easily access the three major consumer credit products in the United States credit services company in the fierce market competition to maintain absolute superiority the key factors.