Many island nations in the Caribbean desire their own national consumer and commercial credit-reporting network. The challenges with that proposition are purely economic. Owing to the small scale of financial sector operations in these sparsely populated countries, justifying the investment necessary to develop a country specific network is difficult. Rather, the region would benefit from a hub-and-spoke approach with one primary data repository serving multiple island nations. This would of course require cooperation among these island countries on matters of transborder data flows. To move the needle on this issue, PERC has:
- Keynoted at World Bank/IFC credit reporting summit;
- Engaged Central Bank leadership from across the region and other government officials;
- Discussed value of regional approach with lenders; and,
- Presented original research on value of consumer credit reporting to society and economy including use of alternative data.