[www.inewsguyana.com] – CreditInfo Guyana says that it has embarked on a partnership with the Guyana Water Incorporated (GWI)to make the credit history of GWI customers available to banks and other reputable financial institutions.
In a statement the firm noted that “through the Creditinfo Partnerships Initiative, GWI collaborated with the credit bureau to help consumers when they approach banks, microfinance institutions and other lenders for loans and other forms of credit. Information on the payment patterns of individuals from the utility was not available to third parties until the Creditinfo Partnership between GWI and Creditinfo.”
It was noted that the information being made available to banks can be a useful tool to help in determining the character and credibility of a potential borrower. The information is included in the various credit reports that are now used by banks throughout the sector as an indicator of eligibility for funds.
Additionally, it was noted that lower rates of interest on loans and faster approvals are also now possible, making the whole application process with lenders faster and easier approvals more likely.
“Creditinfo Guyana is both pleased and proud to publicly acknowledge Guyana Water Inc’s outstanding leadership, corporate responsibility and outstanding efforts on behalf of their customers as demonstrated by their unstinting support for the credit bureau program,” the statement noted.
Creditinfo Guyana Inc. is the second regional presence of the Creditinfo group of companies, a well-respected Icelandic conglomerate with credit bureaus and subsidiaries in over 16 countries worldwide.
The firm currently serves every commercial bank and lender licensed under the Financial Institutions Act in the country, as well as a wide cross section of other stakeholders in various sectors.
The company is actively engaged in bringing together lenders and providers of credit from all sectors to add transparency, efficiency and effectiveness to the business of credit across the board.
