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You may have come across reference to SACRRA when hearing about credit bureaus or credit reports but who are they and what do they do?

SACRRA

The South African Credit Risk and Reporting Association (SACRRA) is a voluntary industry association that was set up back in 1989.

Association members are companies who share critical credit and risk payment performance data about their clients with the main credit bureaus.

SACRRA’s Role in Credit Information Management

Credit bureaus are well-known for collecting and sharing information with credit and other service providers. But most of us don’t know how this information reaches the main credit bureaus.

This is where SACRRA plays a significant role. It ensures that credit and risk information from its members is submitted correctly, on time, and is up to date.

SACRRA manages the central system, which is called the Data Transmission Hub (DTH), through which all this information is submitted. The NCR supports all credit provider members using this central system which helps organise everyone’s data in the same consistent format.

Did You Know? The DTH processes an average of 58.4 million records on a monthly basis.

Lot of Members

SACRRA’s influence extends through its very large membership network, which includes over 4,000 data-contributing members, six approved credit bureaus (the big ones), and around 25 analytical firms.

By managing the DTH and ensuring data accuracy, SACRRA supports the effective functioning of the credit reporting system in South Africa. This comprehensive system helps credit providers make informed decisions, ultimately contributing to the stability and efficiency of the financial sector.

So, next time you hear something about SACRRA, you now know who they are and what they do.

You can find out more info here: www.sacrra.org.za