Joint Credit Information Center (JCIC) was established in 1975 under the Bankers Association of Taipei, and made responsible for collecting, processing, and exchanging credit data among financial institutions. In 17 years of operation, JCIC kept on expanding its scope of business. As a result, the Bankers Association of Taipei decided in 1992 to donate all the operating surplus of JCIC and transform it into a non-profit foundation. The new JCIC continues to serve its member institutions by providing accurate and quality credit information on a user pay basis.
The JCIC is the credit bureau of Taiwan and its position and role are as follows:
It is the only domestic credit-reporting agency.
It is both a public and a private agency, with NGO (Non-governmental Organization) and NPO (Non-profit Organization) features.
It not only collects personal and business credit information, but also develops a personal and credit- scoring system, so as to enable them to access credit.
The JCIC is the first credit-reporting agency in Asia that collects both positive and negative credit information about individuals and enterprises.
In order to promote global economic development, the World Bank has done its best trying to eliminate barriers to doing business between countries. Consequently, the project of “Doing Business” was born, based on more than one hundred global economic entitles which are surveyed and researched. Important items are selected for rating purposes, and “Getting Credit” is one.
In 2018, for the fifth year, the JCIC achieves the perfect mark of 8 points in the Depth of Credit Information Index of the 2019 Doing Business report released by the World Bank today. Among the 190 economies studied, Taiwan compares favorably with the average 4.2 points of East Asian and Pacific countries and the average 6.7 points of the high-income OECD countries.
JCIC operates under its guiding principles. Aside from its regular business, it is committed to educating the public about how to protect themselves against identity theft as it strives to build a society with safe and transparent information. We also take the initiative to develop various projects in line with government policies and the needs of member institutions. Under the operating directives-strengthen information security and confidentiality, enhance the operating accuracy, timeliness and integrity of data, and develop value-added credit information products, expand and upgrade the IT system, and create an economical, convenient inquiry and product development environment, we aspire to provide diversified, pertinent and comprehensive services and develop credit and risk management products to assist member institutions to boost their risk management capability and to conduct their business smoothly.
Looking into the future, we will continue to strive towards the following goals:
Stepping up the efforts to call for public awareness about “the security and protection of personal data” and to propagate the concept of “valued credit”;
Strengthening research and pushing for risk management to enhance the risk management capabilities of member institutions to assist them reduce the Non-Performing Loan (NPL) ratio, thereby upgrading their asset quality, and creating the synergy of information sharing to ultimately build a win-win situation for JCIC, its member institutions, and the public;
Providing the information needed by the competent authority for financial supervision and better services to member institutions;
Actively participating in the relevant international activities and events to play an active role internationally.