Kcell company jointly with the First Credit Bureau launches the pilot project on the Big Data processing for the Second-Tier Banks and Microfinance Organizations
Since May 31, 2017 the Kcell company jointly with the First Credit Bureau launches the pilot project on data verification of the mobile operator for the second-tier banks and microfinance organizations. Project was developed in strict compliance with the Law of the RK - On personal data and its protection, Law of the RK - On communication, Law of the RK - On Credit bureaus** and with the Civil Code of the Republic of Kazakhstan. All data within the framework of this project will be provided only after receiving the consent from the subscriber.
Main objective of the project is to determine the importance of the data of mobile operator for the process of checking and authentication of clients of the Second-Tier Banks and Microfinance Organizations. Partners consider that it can improve the quality of credit portfolio of the second-tier banks and other financial organizations and have a positive impact on the financial sector of Kazakhstan from the anti-fraud perspective.
"Currently, the mobile phone number for many financial institutions is the main channel of communication with the client, and the data of his/her mobile phone can become an important part in the assessment of the borrower. We launch the Verification of the phone number as the first step of the pilot. It will allow at the stage of accepting the credit request to identify suspicious phone numbers purchased especially for taking out the loan. The range of additional parameters will also allow you to determine the activity of the mobile number and develop its approximate profile. Therefore, the pilot project jointly with the Ксell company will be the first step on the way of global integration of the data of the telecommunication sector into the financial sector”, commented Ruslan Omarov, General Director of the First Credit Bureau.
How the data collection will be carried out??
Kcell company will carry out sending of the SMS messages to each subscriber of the list of participants of the pilot group with a request to give their consent for the provision of his/her personal data and official information about him/her to partners through the First Credit Bureau for assessment of the borrower. The subscriber gives such consent by dialing the combination *345#. The subscriber, who has given consent, receives one more SMS about the possibility to withdraw the consent through the combination *543#. If the subscriber does not respond to the message, this will be regarded as a refuse, and his/her data will not be provided to the partner.
"Application field of the «Big Data» is extensive and varied. And it can be especially useful in the work of financial organizations. Before the launching of the pilot project, we conducted several tests. Their results showed the readiness of the most of subscribers to provide the consent for transfer of information. The data of the mobile operator is more valuable by the more recent picture than the data that banks have themselves. And, I emphasize, only with the consent of the subscribers we are ready to provide this information to the First Credit Bureau strictly within the framework of the applicable legislation of Kazakhstan to stimulate the further development of the banking sector", noted Arti Ots, CEO of the Kcell JSC.
The data, that Mobile operator plans to provide within the framework of the pilot project for the partners through the First Credit Bureau, include the time of the phone number use, availability of the outgoing and incoming calls, as well as the number’s activation date and other data.
For more information about this project can be found at the website. Only Activ subscribers can take part in the tests.
* Law of the RK No.94-V dated May 21, 2013
** No.567-II, dated July 05, 2004