Credit Information Bureau "High Mark" renamed "CRIF High Mark"
High Mark Credit Information Services Private Limited (High Mark) on Tuesday announced that post the acquisition of majority stake in the company by Europe based CRIF, High Mark will now be called CRIF High Mark.
In June 2014, CRIF which was a strategic investor in High Mark increased its holding, following Reserve Bank of India allowing a foreign credit information company to hold up to 74% in an Indian credit bureau.
“With CRIF holding majority stake it is only logical for us to rename High Mark and capitalise on the international brand value that CRIF brings to the table. CRIF has been a market leader in Europe, we hope to benefit from their international expertise and implement some of their best practisces to help us provide better service to our clients.” said Ms KalpanaPandey, CEO & MD, CRIF High Mark.
CRIF High Mark is India’s only Credit information Bureau catering to all borrower segments – MSME and Commercial borrowers, Retail consumers, Microfinance borrowers. Licensed by the Reserve Bank of India, CRIF High Mark began operations in 2007 as High Mark Credit Information Services Private Limited and now has a rich database of more than 440 million Individual and nearly 15 million MSME/Commercial records. It is known for its pioneering work in building and operating India’s first and World’s Largest Microfinance Bureau Database.
“Moreover, thanks to the integration with CRIF’s top class solutions, used by more than 3,000 banks at a worldwide level, Indian financial institutions will receive significant advantages in terms of technological innovation and added value services to efficiently manage credit risks, client acquisition and portfolio management,” Ms Pandey added.
CRIF’s successful experience in delivering credit bureau solutions worldwide - such as in Vietnam, Bangladesh, Tajikistan, Indonesia and other countries in Europe, Africa and the Americas - will bring significant advantages to Indian lenders and borrowers, promoting a more mature credit culture in the Indian economic system and sustaining the financial needs of businesses and consumers.