The development of an effective Credit Information Sharing (CIS) mechanism in Kenya has evolved significantly since 2008 when substantive regulations were published.
In 2009, the Central Bank of Kenya (CBK) and the Kenya Bankers Association (KBA) set up a full-time project to coordinate CIS in Kenya, with financing from the Financial Sector Deepening Kenya (FSD-K).
The Credit Information Sharing Association of Kenya (CIS-Kenya) was later set up as the umbrella industry body responsible for overseeing the implementation of CIS in Kenya’s credit market.
Since the formal rollout of CIS in July 2010 when banks started sharing data, the mechanism has witnessed significant growth in the number of participants.
As the mechanism continues to gain acceptance, the number of lenders sharing information on borrowers through licensed Credit Reference Bureaus (CRBs) is expected to increase tremendously.
In addition there are now three licensed CRBs operating in Kenya.
In order for the mechanism to work effectively, all participating lenders must make data submissions to all the CRBs; resulting in an intricate process that can lead to inefficiencies if not well managed.
CIS-Kenya is keen to make the process of data submission process more efficient, and proposes to put in place a centralized point of submission in accordance to Regulation 50 (6) of the CRB Regulations, 2013.
We therefore wish to engage the services of an independent individual/firm/consortium to carry out a feasibility study on the implementation of a centralised data submission platform to facilitate efficient transmission of data to CRBs.
The individual/firm/consortium should meet the following requirements:
Proven experience on system development and analysis
Excellent knowledge on IT security and Data Communications
Knowledge of the Credit Information Sharing mechanism, and/or other data sharing mechanisms
Good understanding of financial sector systems and operations
Proposals must meet the expectations as outlined in the detailed Terms of Reference available on www.ciskenya.co.ke/careers
Such proposals must be submitted on or before 12pm EAT on Friday 11th September 2015 at opportunities@ciskenya.co.ke.