A Credit Reference Bureau (CRB) check is a spot analysis of one’s credit information as gathered by various credit reference bureaus. A Credit Reference Bureau (CRB) is a financial institution that collects credit information on borrowers who may be businesses or individuals from lenders. The CRBs were established under the Central Bank of Kenya Credit Reference Bureau Regulations, 2013. They include saccos, banks and microfinance institutions.
The credit information is either negative or positive and analyses an individual or a business’s credit standing, creditworthiness, including past and current borrowed loans.
Negative credit information that may lead to a negative listing
the CRB includes:
1. Fraudulent account activities;
2. Accounts that have been closed for purposes other than
3. Bounced cheques;
4. Repayment information including days in arrears.
Such a negative listing means one has in the past or is currently late in repayments on loans borrowed from financial institutions.
A positive listing indicates one has repaid past or is repaying current loans on time.
PesaKit offers enables you to chack your customers CRB listing and ensure they are better informed and aware about their current, up-to-date credit rating.Not only do you earn commissions for every CRB check you perform but you offer your community access to a vital financial tool.