In a significant move to elevate its customer services, CRIB sets to enhance digital onboarding process through series of initiatives of process automations.
All the licensed banks, finance & leasing companies in the country, are mandated to report all types of newly granted credit facilities (such as loans, credit cards, leases, hire purchases, letters of credit, cheque returns on current accounts and many more types of other credit) at the end of month to the bureau. Monthly or periodic installment payments, settlements or any changes to status of those facilities should be updated/reported by these institutions monthly.
A fully-fledged Credit Information Management System and the accompanied state-of-the-art ICT infrastructure, supported by an internationally reputed service provider, has been implemented by CRIB for this purpose. Monthly updates are taken place through this advanced technological system with the seamless integration of all banks and financial institutions with CRIB. We process around 10 million such facilities belong to approximately 6.7 individuals on monthly basis, equaling to 41% of the adult population in the country.
Credit Information Bureau of Sri Lanka facilitates any individual to access his or her credit information in the bureau through varied means of access modes. Every customer who requests his or her credit information, receives as a report called “Self Inquiry Credit Report” or popularly known as “myReport”.
The Bureau issues myReports through different online modes ensuring easy and convenient access to the general public on 24/7 basis. Online service is available through;
- ‘Customer Access Portal (CAP)’ for unregistered users
- Web portal for registered users
- Internet Banking channels for selected set of banking users.
In addition to online services, CRIB accommodates walk-in customers to get their iReports at the main CRIB office situated at No 201, Sir James Peiris Mawatha, Colombo 02 during office hours. The customers also can send their applications through any bank branch situated in any part of the country, so that customer is able to receive his/her iReport to the specified personnel address by registered post.
In order to further improve the ongoing digitalization process, the bureau intends to introduce measures to digitally onboard above two categories of customers who are presently not being captured in the system and thereby ensuring digital footprint of all users of CRIB services.
As CRIB ventures into this transformative phase, matching a robust customer verification with streamlined service delivery remains a top priority. The bureau’s strategic digital onboarding initiative reflects its commitment to harnessing technology for the benefit of its users while upholding the highest standards of data integrity and information security.
However, in the process of issuing myReports to the unregistered online users the bureau has to adopt astringent customer verification process to ensure that the information is released to intended and legitimate user. Recognizing its significance, CRIB has incorporated multiple measures into the user verification process to guarantee the validity and accuracy of information in the NIC. The delays encountered due to screening has always been a matter of concern of service standards.
Nevertheless, CRIB while ensuring its resolute commitment to serve the public, always reserves the rights to act diligently not to compromise the integrity and the confidentiality of information it stores within the ambit of its statutory obligation.
In this endeavor, CRIB recently signed a Memorandum of Understanding with the Department for Registration of Persons (DRP) to obtain the facility offered by the department for verification of NIC details of individuals through an online service portal.
Mr. Pradeep Saputhanthri, Commissioner General of DRP and Mr. Pushpike Jayasundara, Director/General Manager of CRIB signed the MOU.
Integration of this service offering within the bureau’s customer service process is expected to help CRIB to carry out customer due diligence effectively and speedily. This step further elevates the ongoing digital onboarding effort to the next level of digitalization of the bureau services.
Integration with DRP for verification of NICs will enhance the bureau’s ability to proactively act on any reporting discrepancies which earlier would have been addressed on case by case basis, reported as customer disputes.
The MOU was signed by Mr. Pradeep Saputhanthri, Commissioner General of DRP and Mr. Pushpike Jayasundara, Director/General Manager of CRIB, on 13th December 2023 at the Department head office in Battaramulla.
DRP and CRIB teams actively worked on fast tracking the preparation effort with cheer dedication and commitment for swifter completion to better serve the general public which both institutions are committed to.