BIK characteristics – credit information processing and sharing
BIK is an institution that collects, processes and shares data on borrowers. They are transferred from banks, savings banks, and until recently also from enterprises that provided loan services to their clients. If you are applying for a loan, the bank will definitely check our credit history at BIK.
What does BIK process and why does it do it?
The Credit Information Bureau (BIK) collects and processes information about bank customers who repay or repay the loan.
The Credit Information Bureau operates pursuant to the Banking Act, and more precisely, Article 107 of this legal act. Collecting reliable information by BIK is forced by the issues of financial sector security and protection of money trading.
Thanks to the data collected by BIK, it is possible to grant cash loans faster and more favorably to people who are applying for an additional cash injection.
Failure to collect information on the credit history
Of consumers and businesses, as well as a lack of control in this area of finance, could significantly increase the state debt and put the Treasury and banks that provide credit services at risk of very serious financial losses that may affect the stability of these entities.
They are transferred from banks, savings banks, and until recently also from enterprises that provided loan services to their clients.
What information does BIK have?
Specific examples of information processed by the Credit Information Bureau
The information to which the Credit Information Bureau has unrestricted access is primarily the personal data of bank customers and detailed data on loans taken, loans and possible banking arrears of these consumers. Detailed data includes such data as:
- dates of granting loans,
- the specific type of credit granted,
- loan amount,
- number of installments,
- the amount of individual installments,
- currency in which the loan was granted,
- repayment dates for individual installments.