Citibank UAE signs with Emcredit

Emcredit, a UAE-based credit information services company, has agreed to provide credit information and risk assessment services to Citibank.

In the initial phase of the agreement, Citibank will use Emcredit's emBounce services to check whether potential customers have a history of honouring their cheques.

Ali Ibrahim, vice chairman at Emcredit, said: "Our credit information and risk assessment services will enable Citibank to gain an additional perspective on the credit payment behaviour of their potential customers.

"This will empower them to accurately identify and target the right type of customers and make more informed lending decisions."

Emcredit has recently signed agreements with Amlak Finance, Better Homes and Dubai e-Government.

It has also signed an exclusive agreement with Dubai Land Department's Real Estate Regulatory Authority (RERA) to develop its Property Profile Solution, which aims to enhance transparency in property transactions by providing details on title deed information, real estate exposures and property evaluation.

Emcredit was incorporated in January 2006 and is a project of the government of Dubai's Department of Economic Development (DED). It is based in the Dubai International Financial Centre (DIFC) and is subject to the centre's data protection law.

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