CREDITINFO (Guyana) is embarking on a number of training programmes to reinforce its presence and importance in Guyana’s growing business environment.

The company is working assiduously to make Guyanese aware of its role in the local business environment and how its legally set mandate may have positive or negative effects on them when transacting business.

The company said it will be engaging current and potential subscribers in extensive training programmes.
“Our training programmes will comprise full subscriber engagement that include user training and refresher training activities; CEO and senior management engagement and presentations; roundtables and seminars to deal with various issues, including data quality; timely dispute management and general queries,” CreditInfo said.

These sessions will also allow for the introduction of new products, as well as receiving very valuable feedback from subscribers.
CreditInfo (Guyana) operates under the Credit Reporting Act 2010 and the Credit Reporting Amendment Act 2016; it embodies the fact that lenders will provide credit information towards the development of credit reports.

This means that each individual who transacts business is likely to have a report based on his/her borrowing and payback habits. The upside to this is that persons with good credit scores may find it extremely easy to access finance, because of a good credit history which would result in a good credit score.

However, a person may try to access a loan for instance and be denied. It may very well be that the lending agency, a subscriber to CreditInfo, accessed that person’s credit history after receiving their authorisation and noticed their poor payback record. CreditInfo offers therefore advice and solutions in this regard.

Such information makes up for the companies value-added products and services, which cater not only to individuals, but to all company sizes as well.

“The challenges to making a greater impact in the market, where our value-added products are concerned, in particular, has been determined to be primarily fuelled by a lack of understanding of the company and its offering, as well as the scope of the credit-reporting industry as a whole.”

The company said it will focus therefore on facilitating increased usage of fee- based credit reports, reduced incidence of nil reports or no credit data found occurrences, improved quality of data shared and enhanced promotion of value- added products.
Direct engagements with high-level operatives will also allow for insights regarding various strategic issues and challenges for which solutions can be provided.

Interactions with users have already seen CreditInfo needing to train users of its products.
“Our experience in engaging users in a very interactive manner has encouraged unhindered feedback, clarification of issues they may be experiencing, as well as the overall development of their understanding of the correct procedures for accessing credit reports. Our training and direct engagements with IT Systems operators is also another key contributor as it assists in improving data quality, which is necessary to inspire confidence in the value of our services and support the sale of our value-added products.”

The company pointed out that, “As a consequence of efforts and direct engagements, subscribers will be able to clarify issues and gain in-depth insights on interpreting the credit data, since a reliance merely on the credit score without a full understanding of the reasons for that particular score was recognised.”

CreditInfo’s business-related data could assist in making major investment decisions. “Our capacity or flexibility to respond to immediate requests for solutions is part of our package. An example relating to capacity would be our ability to respond to a bank’s demand for a mobile banking solution within a required time frame,” the company said.