CrimeaPRESS reports:
The United Credit Bureau (UCB) has summed up the work of the Credistory platform (credistory.ru) in 2023, with the help of which borrowers can not only check their credit history, but also take advantage of services to manage their financial reputation.
In 2023, the credistory.ru website was visited more than 21 million times, and the total number of unique users of the platform exceeded 9.7 million people, i.e. Every fifth borrower in Russia uses Credistory.
Over the past year, Credistorija provided 5.4 million credit reports to individuals. This is almost 1.5 times more often than in 2022. In addition, in 2023, 22.5 million individual credit ratings were calculated and provided to citizens, for comparison in 2022 — 16.5 million ratings.
Also in demand was a service that notifies users about changes in their credit history: in 2023, subscribers received 28.4 million notifications compared to 12.9 million a year earlier.
Nikolay Filippov, director of risk methodology and data analytics of the United Credit Bureau:
Credit history is, in fact, the basis for the development of credit, and, in general, financial literacy of citizens. And we see how this financial literacy, and with it the demand for credit histories, is steadily growing. If at the beginning of 2021 about 300 thousand people a month applied to OKB for a credit report, then in 2023, even despite the difficult macroeconomic situation, the number of people receiving a credit report per month amounted to more than 700 thousand people.
We recommend that citizens check their credit history quarterly. Firstly, you can do this twice a year absolutely free. It will take just a couple of minutes to get your credit report on the Credistoria platform. Secondly, at the end of 2022 and throughout 2023, there were significant changes in the list and format of information in the credit history. The market continues to adapt to new operating conditions. In such a situation, you need to regularly check whether there are any inaccuracies in your credit history.
Mikhail Aleksin, General Director of the United Credit Bureau:
Based on global experience, we can say that credit history in Russia still has a long way to go. Monitoring your credit history and credit rating should become a regular habit for the majority of the economically active population, and not 20%, as at the moment.
Already now, with the active support of legislative bodies and regulators, credit history as a tool is actively developing and filled with new information and functionality.
Currently, the initiative to include information about self-prohibition on issuing credits and loans in the credit history is at the final stage of discussion. This innovation will, first of all, protect citizens from credit fraud. Most likely, the idea will be implemented at the very beginning of 2025.
In the interests of both borrowers and the financial industry as a whole, it would be useful to further expand the information content of the credit history. For example, through information about the use of installment services (so-called BNPL services), information about income (solvency), information about regular (utility) payments. The inclusion of this data in the credit history will allow lenders to make better and, most importantly, quickly decisions on loan approval, and will also reduce the risks inherent in the cost of loans, which will ultimately lead to an increase in the availability of lending in general.
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