Bank Negara Malaysia recently launched its online Central Credit Reference Information System (eCCRIS), which can help users become more aware of their financial obligations, says Qaiser Iskandar Anwarudin, director of the central bank’s financial surveillance department. As a result, consumers are empowered to take charge of their credit standing and to improve their creditworthiness.
“eCCRIS enables consumers to stay on top of their credit standing, find out whether there have been any fraudulent activities and prevent identity theft. It also allows them to engage directly with the participating financial institutions and Bank Negara should there be any errors in the information available in the CCRIS reports. [It helps to] enhance your creditworthiness and standing as you become more aware of your debt obligations,” Qaiser said at a recent media briefing.
The eCCRIS service, which was introduced in January, is provided free of charge. It allows the public to obtain their credit reports, which detail their financing and payment history, such as their housing, car and education loans, for the past 12 months.
The information gathered from participating financial institutions are updated on a monthly basis. Previously, individuals could only obtain their CCRIS reports from Bank Negara directly or credit rating agencies.
To register for this service, the public can walk into any Bank Negara or Credit Counselling and Debt Management Agency (AKPK) branch nationwide to perform a one-time registration. They will then need to verify their identity at the CCRIS kiosk using their MyKad and biometric verification and register a valid mobile phone number.
Users will receive a six-digit PIN on their mobile phone, which will be used for their first login at https://eccris.bnm.gov.my. They will then set their user ID and password, select a personal security image and phrase, and set three security questions and answers. Thereafter, they can access eCCRIS at anytime.
Bank Negara’s Link and Regional Offices director Datin Arlina Ariff says 45,350 Malaysians had registered themselves on the eCCRIS platform nationwide as at March 13. “We do not have a target for users registering for eCCRIS, but we do hope the number will increase as we do our promotional activities. The feedback we have received so far from the public has been encouraging,” she adds.