New online credit report system to help with consumer decision-making, says BNM

An eCCRIS kiosk is pictured at Bank Negara Malaysia on March 14, 2018. — Picture by Azneal Ishak
An eCCRIS kiosk is pictured at Bank Negara Malaysia on March 14, 2018. — Picture by Azneal Ishak

KUALA LUMPUR, March 14 — Bank Negara Malaysia (BNM)’s new online credit reference system eCCRIS will help consumers make better credit decisions, the bank’s Financial Surveillance Department Director Qaiser Iskandar Anwaruddin said today.

Qaiser said the online system — launched back in January — will enable individuals to access and print their own CCRIS credit scores and will also improve “consumer credit behaviour”.

“I would see it more from the perspective of it enhancing a person’s credit worthiness, credit standing and becoming more aware of your application,” he said during a media briefing on the eCCRIS system here.

The eCCRIS enables individuals, as well as financial institutions, to check the credit score of consumers online, which is updated every month.

Individuals will also be able to print their credit scores to keep themselves updated on their own credit standing without relying on financial institutions to do so.

Director of LINK and BNM Offices Arlina Ariff said that as of yesterday, 45,350 had registered as eCCRIS users nationwide.

“The feedback we have received from public so far has been positive,” she said.

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