Pearse Doherty
Ceist:253. Deputy Pearse Doherty asked the Minister for Finance if the Central Bank of Ireland will outsource the operation of the new credit register; and if he will make a statement on the matter. [4679/15]
Amharc ar fhreagraTuesday, 3 February 2015
Ceisteanna (253)
Freagraí scríofa
I am informed by the Central Bank of Ireland that it is nearing the conclusion of a public procurement process to select a partner to build and operate the Central Credit Register (CCR) on its behalf. The strategy pursued has been to seek proposals from experienced operators with:
- a deep understanding of the business processes and specialised data processing involved, in particular, to match data to create a Single Borrower View and to develop reliable matching and credit scoring algorithms;
- a proven capacity to provide and maintain modern IT facilities and information security capabilities;
- a reputation for reliability and accuracy.
The Central Bank considered alternative approaches to delivering the CCR, such as developing or buying a software solution and building the necessary operational capability within the Bank. Options were compared across a number of criteria, including risk, timeline to implement and cost. Awarding a contract to an experienced operator is favoured as the safest approach to delivering the CCR in a cost effective and timely manner.