Follow on Google News

Over the last five years, credit bureaus have invested heavily in getting closer to consumers. To this end, they offer a variety of services and information aimed at promoting financial education, enabling Brazilians to make the best decisions about credit, as well as preventing fraud.

This proposal is even more relevant today. As we know, there is unfortunately a high level of unemployment and around 62 million Brazilians with outstanding debts. In this context, the bureaus are committed to offering the entire financial planning process, suggesting the contracting of credit under the most advantageous conditions for the consumer.

As part of this effort to prioritize financial planning and financial education for the population, I must highlight the Positive Registry with automatic consumer inclusion. This bill, which amends the CP legislation, is currently being discussed in the National Congress. Basically, the Positive Registry is an initiative to promote responsible credit, by increasing transparency in relations between creditor and consumer, and its democratization, by enabling access to credit for the unbanked population.

Based on studies in the sector, I can say that the change in the CP legislation will make credit cheaper for Brazilians who pay their bills on time. With its approval, we will have a real opportunity to achieve the much-desired scenario of lower interest rates on loans and financing, with a reduction in defaults.

To make people aware of these and other initiatives, credit bureaus have invested in communication through different channels, especially digital ones. On social networks and blogs, credit bureaus provide videos and easy-to-understand texts. The high level of consumer engagement on the bureaus' digital channels is a sign of the importance of this communication.

Also with the aim of collaborating with the consumer, the bureaus have efficient mechanisms for monitoring CPF. Through this service, consumers are notified by e-mail and SMS if their CPF is involved in any operation. The alert is also given when the consumer is about to be denied credit or when their name is removed from the list of defaulters.

Initiatives like these described throughout the text show the bureaus' commitment to the proposal of a healthy credit market. We want to reduce delinquency and, much more than that, avoid the worst situation of all: default. over-indebtedness and its dramatic psychosocial consequences.

Thanks for reading! Access other content at ANBC website.

By: Elias Sfeir President of ANBC & Member of the Climate Council of the City of São Paulo & Certified Advisor