Credit report is a financial service product based on big data, cloud computing, artificial intelligence and other technologies, which can provide enterprises and individuals with comprehensive, accurate and timely credit information to help them make decisions such as credit assessment, risk management and market development. With the development of financial technology and regulatory changes, credit reporting is also facing new challenges and opportunities. This paper analyzes the definition, characteristics, value, development history, current situation and future trend of credit report, and shows the application and effect of credit report in different industries and scenarios, and provides some reference and enlightenment for readers.

1. what is a credit report?

Credit report is a financial service product based on big data, cloud computing, artificial intelligence and other technologies, which can provide enterprises and individuals with comprehensive, accurate and timely credit information to help them make decisions such as credit assessment, risk management and market development. Specifically, the credit report contains the following aspects:

Registration information: including basic information of the enterprise or individual, such as name, address, legal representative or person in charge, registered capital or income, etc;

Shareholder information: including information about shareholders or investors of an enterprise or individual, such as name, contribution or shareholding ratio;

Change information: including major changes that occur in the business process of an enterprise or individual, such as name change, address change, change of legal representative or person in charge, change of equity, etc;

Legal person appointment information: including the positions held by the legal representative or person in charge of the enterprise in other enterprises or organizations, such as directors, supervisors, senior managers, etc;

Business conditions: including the business activities of enterprises or individuals, such as the main business scope, business scale, operating efficiency, market share, etc;

Judicial information: including all kinds of judicial cases involving enterprises or individuals, such as civil litigation, criminal cases, administrative punishment, etc;

Financial information: including the financial position of an enterprise or individual, such as balance sheet, profit statement, cash flow statement, etc;

Negative records: including all kinds of bad records of enterprises or individuals, such as tax arrears, default records, breach of trust records, etc;

Credit limit and score: Including the maximum credit limit and corresponding credit score that can be obtained according to the comprehensive credit status of the enterprise or individual.

What are the characteristics of 2. credit reports?

Compared to traditional credit reporting, credit reporting has the following characteristics:

Wide range of data sources: Credit reports not only use data provided by traditional financial institutions, government departments, judicial organs, etc., but also use data provided by the Internet, social media, e-commerce platforms, Internet of Things, etc., forming a comprehensive, Multi-dimensional credit data system;

Intelligent data processing: credit reporting uses big data analysis, cloud computing, artificial intelligence and other technologies to clean, integrate, mine and model massive credit data, improving the quality and value of the data;

Visualization of data display: The credit report uses charts, images, animations and other methods to display credit data intuitively, vividly and easily, improving the readability and usability of the data;

Timeliness of data updates: credit reporting enables real-time or regular updates of credit data, ensuring the timeliness and dynamics of data;

Data security and confidentiality: Credit reports comply with relevant laws, regulations and industry norms, and credit data is encrypted, authorized, audited and other security measures to ensure data security and compliance.

What is the value of 3. credit reports?

Credit reporting, as a financial services product, can provide value to businesses and individuals in the following areas:

Help enterprises and individuals to obtain financing: credit report can reflect the repayment ability and willingness of enterprises and individuals, provide objective and scientific credit basis for financial institutions, reduce the risk cost of financial institutions, improve the lending efficiency of financial institutions, so as to help enterprises and individuals obtain more and more favorable financing;

Help enterprises and individuals to manage risks: credit reports can reflect the business status and financial status of enterprises and individuals, provide timely and accurate risk warning for enterprises and individuals, help enterprises and individuals to find and solve potential risk problems in time, prevent risk spread and accumulation, and safeguard the reputation and interests of enterprises and individuals;

Help enterprises and individuals to expand the market: credit reports can reflect the business ability and competitiveness of enterprises and individuals, provide valuable market information for enterprises and individuals, help enterprises and individuals find suitable partners or customers, and enhance the market influence and competitive advantage of enterprises and individuals.

What is the development history of 4. credit reporting?

As a financial service product, the development of credit reporting can be divided into the following stages:

Start-up phase: This phase starts approximately from20Century80Beginning in the 1990 s, some international organizations or institutions (such as the World Bank, the International Monetary Fund, etc.) or some foreign credit reporting companies (such as Moody's, Standard & Poor's, etc.) provided some national or regional level or industry level or enterprise level rating or evaluation reports based on macroeconomic indicators or financial indicators, mainly to provide reference for international investors or multinational companies;

Stage of development: This stage is approximately from20Century90Beginning in the 1990 s, some domestic financial institutions or credit agencies (such as the People's Bank of China Credit Information Center, China Credit Insurance Credit Platform, etc.) provided credit reports of enterprises or individuals based on financial transaction data or government data, mainly for domestic financial institutions or enterprises to provide services;

Innovation stage: This stage is approximately from21Since the beginning of the 21st century, some emerging financial technology companies or platforms (such as Ant Group, Jingdong Digital, Baidu Finance, etc.) have provided credit reports of enterprises or individuals based on Internet data or social data, mainly for users of Internet finance or e-commerce platforms;

Future stage: This stage is still under exploration and development. It is mainly provided by some innovative financial service institutions or platforms (such as Shangpu Consulting, etc.) to provide credit reports of enterprises or individuals based on multi-source data and intelligent technology, mainly to provide customized and efficient services for customers in various industries.

What is the status of 5. credit reporting?

As a financial service product, the current status of credit reporting can be analyzed in the following ways:

Market size: according to relevant statistics,2019The size of the global credit reporting market reached approximately300Billions of dollars, expected2025The year will reach about500US $billion, with a compound annual growth rate8.6%. Among them, the Asia-Pacific region is the largest market, accounting for about40%Europe and North America account for about25%and20%；

Market structure: according to relevant statistics,2019In the global credit reporting market, corporate credit reporting accounted for about60%, personal credit report accounts for about40%. Among them, corporate credit reports are mainly provided by traditional credit bureaus or financial institutions, while personal credit reports are mainly provided by emerging financial technology companies or platforms;

Market competition: according to relevant statistics,2019In the global credit reporting market, the market shares of the top five service providers were: Moody's (14.2%), Standard & Poor's (13.8%), Expurian (12.6%), Equator (11.4%）、TransUnion（10.2%). Among them, Moody's and Standard & Poor's mainly provide rating or evaluation reports at the national or regional level or at the industry level or at the enterprise level.TransUnionIt mainly provides credit reports of enterprises or individuals.

What is the future trend of 6. credit reporting?

As a financial service product, the future trend of credit reporting can be predicted from the following aspects:

Diversification of data sources: with the Internet of Things, blockchain,5GWith the development and application of such technologies, more data sources will be available in the future, such as logistics data, location data, biometric data, etc., which will make credit reporting more comprehensive and detailed;

Intelligent data processing: with the progress and innovation of artificial intelligence, machine learning, deep learning and other technologies, more data processing methods will be adopted in the future, such as natural language processing, image recognition, speech recognition, etc., which will make credit reporting more accurate and efficient;

Data visualization: with virtual reality, augmented reality,3DWith the popularization and development of printing and other technologies, there will be more data display methods to choose from in the future, such as three-dimensional charts, dynamic images, interactive animations, etc., which will make credit reporting more intuitive and vivid;

Timely data update: with the optimization and improvement of cloud computing, edge computing, distributed computing and other technologies, more data update frequency can be realized in the future, such as second-level update, hierarchical update, time-level update, etc., which will make credit reporting more time-sensitive and dynamic;

Data security and confidentiality: with the improvement and application of cryptography, digital signature, zero knowledge proof and other technologies, more data security measures can be implemented in the future, such as encryption, authorization, audit, etc., which will make credit reporting more secure and compliant.

The application and effect of 7. credit reporting in different industries and scenarios.

In order to better demonstrate the application and effectiveness of credit reporting, this paper provides a simple analysis of the following industries and scenarios, taking into account the case of Champu Consulting's service clients:

Financial industry: Shangpu Consulting provided a bank with an enterprise credit report based on multi-source data and intelligent technology. The report includes enterprise registration information, shareholder information, change information, legal person employment information, business status, judicial information, financial information, negative records, credit line and score, etc. It is visually displayed by means of charts, images, animations, etc. The report helps banks to conduct a comprehensive credit assessment of enterprises, provides banks with an objective and scientific basis for credit, reduces the risk cost of banks, and improves the efficiency of bank lending.

E-commerce industry: Shangpu Consulting provides a personal credit report based on Internet data and social data for an e-commerce platform. The report contains personal basic information, consumption behavior, payment ability, social relations, reputation evaluation and other contents, and is visually displayed by means of three-dimensional charts, dynamic images, interactive animations and so on. The report helps the e-commerce platform to carry out accurate credit assessment of individuals, provides valuable market information for the e-commerce platform, helps the e-commerce platform to find suitable partners or customers, and enhances the market influence and competitive advantage of the e-commerce platform.

Manufacturing industry: Shangpu Consulting provided a manufacturing company with a corporate credit report based on logistics data and location data, which included the company's logistics capabilities, logistics efficiency, logistics security, etc., and used virtual reality, augmented reality and other methods for visual display. The report helps manufacturing enterprises to monitor and warn the logistics situation of themselves and the upstream and downstream of the supply chain in a timely manner, provides timely and accurate risk warning for manufacturing enterprises, and helps manufacturing enterprises to find and solve potential risk problems in a timely manner. prevent the spread and accumulation of risks, and safeguard the reputation and interests of manufacturing enterprises.

8. epilogue

Credit report is a financial service product based on big data, cloud computing, artificial intelligence and other technologies, which can provide enterprises and individuals with comprehensive, accurate and timely credit information to help them make decisions such as credit assessment, risk management and market development. With the development of financial technology and regulatory changes, credit reporting is also facing new challenges and opportunities. As an innovative financial service institution, Shangpu Consulting will continue to uphold the service concept of "professional, objective and efficient" to provide customized and efficient credit reporting services for customers in all walks of life. to help customers maximize credit value.