Questions and Answers
Questions and Answers
What is a credit register?
The credit register or Credit Bureau (banking – SRBI: Common Banking Information Register, or non-banking – NRKI: Non-Banking Client Information Register) is a well-secured database of information on clients who have borrowed money from financial institutions. In the register, their payment behavior  is shown (i.e. if they repay their obligations in time and in full). The register contains both positive and negative information so that any client is not disadvantaged in the future when raising funds.

What clients are kept in the register?

The register holds data on natural persons (both individuals and entrepreneurs) – clients of financial institutions, who have applied for, or are repaying a credit product or leasing with a member of the credit register. The Non-Banking Register NRKI also includes leasing contracts of legal persons. There are only data of those clients who provided a provable consent to the bank.

What information is kept on me in the register?

In addition to the name, personal identification number and address, the register also includes basic information on the payment behavior of a subject. For example, the number of existing credit contracts (including credit cards), the amount of the individual credits and instalments, the history of repayment of these obligations and information on the securing of obligations. Furthermore, the register includes the information if you are currently applying for any credit product. The information is kept in the register for a maximum period of 4 years after the credit product is repaid. There are not any balance data of clients processed in the register. 

What benefits does the register have for me as a good client?
If you are a good client paying the obligations duly and in time, the register user will find  this information in your credit report. The financial institutions will be processing your credit application quickly and you may receive preferential conditions on your requested product.

Does anything similar exist also abroad?

Certainly. The credit registers have been functioning abroad already for tens of years. In the western world, it is a completely standard tool for decision-making about credits. In the countries of Central and Eastern Europe, the registers have been established recently or there is work in progress on their creation. There is even data exchange also among the individual countries. The clients in the countries where the registers function as a traditional part of their economies directly request their creditors to provide the information on them to the register. They can be confident that the others will view them as solid clients.

Why should the client give his consent with data processing?

Banks do need your approval for exchanging information on you among themselves Law 483/2001 on banks). As well, non-banking subjects, members of the Non-Banking Register NRKI, must get your approval with personal data processing. Through the register, the client gets de facto better access to a very broad offer of financial products not only from banking houses.

What if any of "my" data is incorrect and I will have problems to get a credit as a result of it?
If you find out that any of the data kept in the register is incorrect, contact the Client Centre SBCB (Banking Register). One of its main tasks is to enable the clients to get familiar with data kept on them in the register, and in the event of occurrence of any incorrect data to ensure their correction in cooperation with the respective financial institution.

Is it possible for anybody to misuse data from the register?
Security of the data from the register is ensured both from a technical and organisation standpoint. Data are transferred along maximally secured private lines and are enciphered. Moreover, all communicating servers and clients of this closed system are identified and authorised by means of certificates issued by a certification authority. In addition to the technical securing of data, there are a lot of organisation rules and controls preventing any system misuse. even in the least possible extent.

Where are data processed? Is it not illegal that data processing is carried out abroad?
Data are processed in Bologna, Italy. The fact that data are processed abroad is not illegal, particularly when similar or even stricter rules relevant to personal data are applied in that particular country rather than in the Slovak Republic, and Italy meets this condition. Moreover, CRIF has been running a similar system for more than 15 years for the purposes of the credit register in Italy and meets the security criteria defined in co-operation with the Slovak banks.

If I am delayed with repaying one installment e.g. only by one or two days, will I be shown in the register as a bad payer?
No. The delay of one or two days with repaying an installment will not generally be shown in the register at all, as the register users (banks) update data from their databases once per month, moreover with the delay of several days, in order to eliminate transaction periods of money transfer.