For credit exposures above certain threshold, reports from multiple bureaus could be considered while underwriting. At the monitoring stage, CICs can furnish a 360 degree view of customers, thereby enabling portfolio risk assessment and early warning triggers to identify and address delinquency. Further, at the collection stage, CICs can help entities in reaching their not so easily contactable base, thereby improving recoveries.
From a strategic perspective, CICs, which represent the collective aggregates of the banking industry, can be a useful source of benchmarking performance with respect to peer categories or the segment as a whole. CICs can also provide a geographical profiling of credit growth and delinquency that can help banks in deciding their expansion or consolidation strategy.