When data flows responsibly, the entire credit and risk ecosystem is stronger, more transparent, and is better equipped to efficiently serve consumers and businesses, writes Magauta Mphahlele.
South Africa’s credit and risk data sharing landscape is diverse and can also be quite complex. Data sharing plays a critical role in creating access to credit and other financial services whilst promoting responsible lending and borrowing. There is minimal understanding of how data flows from credit and data providers to the six credit bureaus that are authorised to hold consumer payment profile information.
Through the Central Data Transmission Hub and in compliance with Regulation 19(13) issued by the National Credit Regulator (NCR), the South African Credit and Risk Reporting Association (SACRRA) facilitates the sharing of over 4.5 million daily, and 64.1 million monthly, consumer records (i.e. accounts) from more than 4 000 credit and data providers, including all major banks. These records are then shared to the authorised credit bureaus. Because of this sharing of data, credit providers and other financial services providers are able to make informed risk and lending decision and thus avoid reckless lending.
There are number of reasons why the SACRRA Data Submission Monitor (SDSM) tool was created. Through continuous engagement with SACRRA members, as well as various stakeholders, we identified that there was a pressing need for them to access an up-to-date overview of data submission trends. They required data-centric information that reflected national consumer credit and risk data sharing trends, where they could draw insights from across different industry sectors and products within those industries.
Developed in collaboration with 71point4, a data science and strategic research consultancy based in Cape Town, the SDSM overlays intelligence against the broader industry, and data submission trends are updated every quarter. This way, it is possible for users to pick up submission trends per sector and per product type.
We built it for all types of users, including credit providers and other data contributors, regulators and policymakers as well as analysts and researchers. It is specifically designed to empower better decision-making, inspire data-driven conversations, and promote the responsible sharing of information in a way that ultimately protects and benefits the consumer.
The SDSM is more than just a dashboard. It’s a holistic reflection of the country’s credit and risk data-sharing culture that is solidly based on accountability, compliance, and the common goal of responsible credit access for all South Africans.
Updated quarterly and published two months after each quarter’s close, the dashboard provides:
- Average submission volumes across all six authorised credit bureaus
- Sector and product-level insights
- Integration with NCR market indicators
- Contextual explanations and notes on data sources and methodologies
Most importantly, no personal or identifiable data is ever displayed, as we take data privacy and responsible reporting seriously.
Why this matters
Behind every loan, bond, or financial product lies a consumer’s own unique story. The integrity, recency and reliability of the data that fuels financial decisions about them is paramount, especially when it comes to credit and other risk products like insurance.
The SDSM’s dashboard provides users with aggregated insights based on payment profile files submitted monthly to the six credit bureaus that are authorised by the NCR. These include the Consumer Profile Credit Bureau, Experian, mydata (previously known as ITC), TransUnion, VeriCred Credit Bureau and Xpert Decision Systems.
These submissions are facilitated via the SACRRA managed Central Data Transmission Hub and represent a collective industry commitment to the regulatory mandate under Regulation 19(13) of the National Credit Act (NCA).
By visualising data volumes submitted by sector and product type, the SDSM helps paint a clearer picture of how different parts of the economy are contributing to the national credit narrative. Each data point represents a consumer account, and while the data is entirely anonymised and aggregated, the trends they reveal are rich, impactful and have meaning.
A comprehensive view of the credit landscape
The SDSM doesn’t stand alone. To provide a broader industry context, 71point4 assisted SACRRA to integrate key indicators from the NCR’s Consumer Credit Market Report These quarterly insights, sourced directly from credit provider regulatory returns, complement SACRRA’s bureau-based submission data, offering a holistic and accurate view of South Africa’s credit environment.
It’s important to note that while data provided by SACRRA and the NCR are equally as valuable, they originate from different sources, may differ in scope and timing, and are subject to distinct data validation processes. These nuances may lead to variances in the figures, but both serve as trusted windows into the industry. They are designed to be viewed side-by-side, not in competition.
Data is a strategic asset
As we launch our Data Submission Monitor, we invite the South African credit and risk community to view data not just as a regulatory necessity, but rather as a strategic asset. One that tells stories, reveals patterns, and helps build a more inclusive and resilient financial ecosystem.
We encourage all stakeholders to explore our SDSM, ask questions, and use the insights provided by this tool as a springboard for smarter, more aligned practices across the industry.
Together, let’s move from compliance to insight, and from insight to impact.
Where to Access the Monitor
Click HERE or Visit SACRRA’s website (www.sacrra.org.za), under the Resource tab, click on the Data Submission Monitor tab.
