Ulaanbaatar
FIRST CREDIT INFORMATION BUREAU LAUNCHED
Economy
The creative disruption of the fourth industrial revolution echoes across every sector of the economy, especially apparent in the financial industry. Private companies are evolving to provide efficient, transparent, and smart ecosystems for their customers, enabling lower costs and more timely financial services. Following the start of several successful fintech and cyber services, the first Credit Bureau license was granted by Mongolbank (Central bank of Mongolia) to Buren Score LLC. Credit information services have proven themselves internationally – the better the consumer’s credit information, the lower the risk of lending and subsequent interest rates for consumers.
Credit Bureau license issued to
Buren Score LLC by the Resolution №A-254 dated October 7th, 2021 of the
Governor of Central Bank according to the “Law on Credit Information” and “Procedure
on Provision of Special License for Credit Information Services”. Mongolbank found that the company meets
all legal, corporate governance, professional and ethical standards to operate
a credit information agency. The state is thus optimizing its involvement in
social and economic activity by outsourcing fundamental financial sector
services to private entity. This adheres with the government's policy of reducing
budgetary spending while improving the availability and quality of services.
Buren Score LLC is a national
fintech company founded in 2020 by a highly experienced management and
executive team. Based on modern IT and data analysis standards and solutions,
Buren Score LLC provides not only credit history but will also introduce
innovative products like credit score and fraud prevention alerts to meet the
financial sector’s growing needs for seamless information services.
Whole Data, Full
History
Buren Score LLC
Find more at: www.burenscore.mn
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