On this last point, I will say that the so-called bonus culture is one of the many factors that can drive the financial system in the wrong direction – away from intermediation to selfreferential speculation; away from medium-term stability to short-term orientation; and away from being a service sector to being a self-serving sector.
•  Timely and accurate information on borrowers’ debt profiles and repayment history enables PIs to make more informed lending decisions  •  As the data on the system is built up, the information available will enable loan processing to become simpler and faster, collateral requirements to be streamlined, default rates to be reduced and, ultimately we believe loans shall become cheaper.