What is Commercial CAIS?
Commercial CAIS (Credit Account Information Sharing) is a shared database of your businesses credit history. The information is shared with your consent. It's used primarily for the assessment of credit applications, to help prevent customers getting into financial difficulty through over-commitment, and for the prevention and detection of fraud and money laundering.
What's in the Commercial CAIS database?
Over 90 financial institutions and creditors contributing.
More than 10 million accounts, more than 480,000 of which are in default.
An active worth of over £49 billion, relating to 2 million limited companies and 3 million non-limited business.
Why is this CAIS data shared?
This sharing of information provides lenders with access to a greater range of data, giving them a far more comprehensive view of your business, which enables them to make responsible lending decisions.
How does CAIS benefit me?
As a business, the sharing of this information benefits you by helping you to gain access to a wider range of financial products, where you may have previously struggled due to lack of data available on your business.
Who can access this CAIS data and how is it governed?
The sharing of this data is governed by a strict code of conduct, overseen by a cross industry group called the Steering Committee on Reciprocity (SCOR). Only members of the CAIS scheme can gain access to this data, and then only with the permission of the business concerned.
Why do I need to see my CAIS data?
When you apply for your commercial credit, members of the CAIS programme have access to your CAIS data, and this will be used in their decision making process to ensure that they are treating you fairly and making responsible lending decisions.