Flow encourages timely bill payments to improve credit scores
Flow customers could be boosting their credit score by paying their bills on time. Under an arrangement with CRIF Information Bureau Jamaica, customers can utilize their payment history on Flow’s products and services to build and more accurately demonstrate their ability to service other types of credit from traditional financial service providers.
The telecommunications firm’s arrangement with CRIF has been in place for the last two years. “We’re in the business of enabling our customers’ progress and recognize that a good credit score can assist our customers in future personal or business transactions,” said Stephen Price, Country Manager, Flow Jamaica.
“For some of our customers, their Flow telephone or internet bill is their only proof of address for transactions and one of the only longstanding sources of a payment history,” he noted.
Price continued: “Many of our customers are also young Jamaicans and entrepreneurs who may not yet have a strong credit history in their applications to various financial institutions. Accessing their payment history on the products and services they take from us can help to enhance their credit profile as well as build their character references.”
Meanwhile, Terrence Cooper, Chief Executive Officer at CRIF believes the partnership with Flow will enable expansion of services and further contribute to the overall customer experience. “CRIF is very excited about the existing partnership. With Flow being a major contributor into the credit bureau eco-system, all sectors of the economy will now be better able to assess credit worthiness even on consumers and SME’s who have little or no traditional credit history. Flow is helping that segment of the population to establish their credit history,” Cooper stated.
CRIF Information Bureau Jamaica, was established in Jamaica in 2011 and began operations in September 2013.