Al Etihad Credit Bureau (AECB) successfully added key utility billing data from all the Emirates covered by Etihad Water and Electricity (EtihadWE), including Ajman, Umm Al Quwain, Fujairah and Ras Al Khaimah, as part of the alternative data used in the credit reports of individuals and companies.
Etihad Water and Electricity Company is one of the most active utility providers in the UAE in terms of outreach. To date, the world-class electricity and water services provider holds more than 410,000 active contracts, covering over 280,000 individuals and companies.
AECB has recently added payment obligations of EtihadWE-issued utility billing and customer data, thereby reaffirming its role in expanding its credit register with existing payment obligations from non-financial sectors to benefit all users of Credit Reports in the country. The latter reinforces AECB's commitment to supporting the stability of the UAE's credit marketplace by increasing the comprehensiveness of credit reports, which in turn helps users to make informed decisions.
AECB's Credit Report and Score are gaining more popularity as individuals and businesses prioritise their credit health to make informed decisions by finding out what affects their Credit Score on a regular basis.
AECB continues to improve the credit report models by using alternative data to generate a credit report that considers an individual or company's monthly salary history, cheque clearance history, telecommunications monthly bill payment history, and water and electricity monthly bill payment history. As a result, the company is able to build the credit history of concerned individuals or companies upon receipt of the data from the information providers.
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