The Cook Islands first Credit Bureau is now in operation. The database has opened and the Bureau’s founding members, the ANZ Bank, Bank of the Cook Islands, and BSP Bank, have commenced operating the service.
The month of November will be used primarily for the Banks to commence uploading data and initial enquiries. While the data base is new, it is expected that the manual paper credit check will run in conjunction with the service until the initial bulk data uploads are completed and the members are satisfied with the level of information online.
It is expected that the service will be open to other businesses in the Cook Islands to join from December 2017.
