In my view, all euro-area member states are responsible for ensuring that their economies are in good shape and are able to live up to the challenges that result from their euro-area membership. This also implies sufficient leeway to absorb economic shocks without risking the sustainability of public debt or ending in high rates of unemployment.
I believe that data available at CICs can be effectively used by banks and financial institutions to assist in credit risk management at various stages across their customer’s life cycle. Its use in customer acquisition and customer monitoring has been quite prevalent. With regard to customer acquisition, with technological advancement, the stage is getting primed for multi-bureau decision making.