Mr. A, who has been running a bakery in Seoul for seven years, has been steadily increasing in sales due to the increasing number of regular customers in the neighborhood as well as in other countries. But even if he wants to move to a large store and achieve higher sales, he is worried that his low credit rating will allow him to borrow money. At this time, A was informed of the "Biz Credit" service, which allows him to receive a reasonable credit rating.

BC Card (CEO Lee Dong-myun) launched "Biz Credit", a new credit rating service for small business owners to get much more reasonable credit rating.

Based on card payment information generated at 3 million BC Card member stores and payment processing know-how that has been carried out for 38 years, "Biz Credit" provides ① credit rating for small business owners ② fraudelant sales alarm service ③ merchant summary information service.

First of all, the credit rating is designed for small business owners who were subject to unreasonable conditions such as higher interest rates or rejection of loans compared to whom on the payroll.

General credit rating agencies determine whether loans are available and appropriate interest rates so that small business owners have been difficult to check their exact income and easy to receive higher credit ratings than office workers.

However, using 'Biz Credit' will allow them to receive a more reasonable credit rate based on a variety of information¹ such as sales and commercial districts.

Based on real-time analysis of merchants' lifecycles (opening-operation-closure) and sales data, the service predicts the possibility of small business owners closing down, enabling financial institutions to respond in advance.

In particular, BC Card maximized predictability of "Biz Credit" through machine learning technology to analyze the association between closure and ability to repay the debt. Results of the analysis will be provided to financial institutions to utilize them as supplementary indicators when evaluating small business owners.

An alarm service will also be provided to inform financial institutions of the merchant that caused damage to customers through illegal operations. The service will minimize damage to financial institutions that have implemented merchant loans, while at the same time blocking possible damage in advance.

A merchant summary information service will also be provided to analyze major items related to the merchant.

It is expected that reports consisting of more than 500 items such as business overview, sales performance and sustainability, overdue and accident information, customers, industries, and commercial districts will be provided in real time, which will enable the implementation of target marketing.

Won Sang-hun, leader of the CB business team, said, "We are confident that 'Biz Credit' service will be of great help to small business owners who have not enjoyed reasonable financial benefits due to lack of credit information. We will expand the Credit Bureau business in earnest in line with the revision of the Credit Information Act."

¹Evaluate the ability to repay loans within the next year based on information such as sales patterns, performance, commercial districts, fraudulent transactions, and complaints.