CREDITINFO credit reports have...

be a considerable accomplishment and an acknowledgement by an important section of the business community of the importance of data-driven decisionmaking.

And according to Semple-Joseph CREDITINFO Guyana itself was in the process of seeking ways of expanding its services to keep abreast of the various transformations in the business sector. She alluded to the upsurge in applications for money lenders licences, pointing to the fact that this development is likely to open up additional demand for credit reports. Semple-Joseph did point out, however, that in the process of its buildout, CREDITINFO would be concerned with the importance of continuing to function with the confines of the laws and regulations governing its operations in Guyana. “That is a circumstance of which we remain particularly mindful,” she says.

Going forward, Semple-Joseph told Stabroek Business that the entity is currently contemplating a demarche on local trade creditors with a view to determining the nexus between their needs and the services being offered by CREDITINFO. “We are considering, as well, a possible approach to Landlords who are renting homes and other premises so as to afford them opportunity to measure their credit risks. All of this is in an effort to reduce credit-related risks,” Semple-Joseph told Stabroek Business.

Meanwhile, the local CREDITINFO Head told Stabroek Business that the entity was now “moving beyond credit reports since we have the tools that can help businesses to advance their operations in other ways. We believe that while it will take a mindset change, businesses will come to understand better the importance of taking strategic decisions that are based on information provided through accurate and reliable data. That is one of the important avenues that we intend to explore.”