CCB is a credit bureau that registers and shares credit related information of persons and small business (Kleinbedrijf) responsibly. CCB works closely with the credit issuing institutions and observes local privacy laws and international best practices to ensure professional and trustworthy registration and sharing of information.

CCB registers credit related information provided by participating institutions (our members) who can only be local institutions that extent credit. CCB makes a distinction between lending credit and trade credit. Lending credit are credits issued by institutions that have issuing of credit as a main business objective. Trade credit is credit that exist as part of a transaction of delivering goods or services and is not typically a main business objective of the institution, but part of a service to customers related to the main objectives.

Consumer credits

Consumer credits are submitted by members that extend credit to consumers.

SME credits

SME credits are distributed by members that extent credit to business. (note that SME credit registration is planned to go live in 2018)

Negative only registration

Trade credit is only registered on a negative experience basis, meaning, the credit only gets credit if the payment has become significantly overdue.

Trade credit Members only have access to credit reports showing negative registration, meaning credits that are in default, whether it be trade credit or lending credit. They are not able to share positive registration.

Positive registration

Lending credits are registered on a positive basis, meaning that they are also registered if there are no defaults; if such credits end up in default that status is are marked as well.

Positive registered credits that have not gone in default are only shared among members providing positive registration data. Trade credit members cannot retrieve reports showing credit that have not gone in default.

Credit registration has benefits for the person registered, for the credit issuing institutions and for the community in general.

What are those benefits?

1. Persons: Credit registration helps individuals to avoid ending up with too much debt. Although it may sometimes seem that being denied additional credit is not pleasant or fair, it is much better than ending up with stress caused by too much credit and a situation whereby it seems that all you work and live for is to repay debt.
   Also, credit registration could help people that show good performance on existing credit and enough room for additional credit to get better terms on new (or existing) credit. Responsible credit registration also provides transparency to you. You have the right to see all information that is registered about you and have control over incorrect information, because you have the right to request the CCB member that provided the wrong information to correct such information, including the right to arbitration if there is no cooperation from the Member. (see a summary of all your rights here)
2. Credit issuing institutions: The benefits to the credit issuing institutions are efficiency, risk mitigation, due diligence compliance, and more possibilities to apply risk-based pricing.
3. The community: It has been reported by the World Bank that a good system of credit registration cause credit default rates to reduce and helps to provide access to finance to those that did not previously had access to finance. A professional system of credit registration further enhances the efficiency, transparency, and privacy surrounding personal credit information. The world bank strongly promotes the presence of a professional credit bureau in their doing business series.

CCB makes use of the CCB Online Registry, which is a modern application providing a high level of security.

• Authorized user authentication using user ID, password and verification code for each login
• Auto expiration of login session after lapse of time with user activity no
• Client authentication using user-id, password and verification code.
• AES 256 data encryption at rest
• Full audit trail logging of all sign-in’s and actions performed

A professional assurance audit firm performs an assurance audit surrounding the integrity and reliability of the systems and procedures in accordance with the International Standard on Assurance Engagements (ISAE 3000/ SOC2).

CCB is active in the following countries:

• Curaçao (since 2004)
• Caribbean Netherlands (Bonaire) (since 2007)
• St.Maarten (since 2020)

CCB’s DPO has the responsibility to ensure that CCB is compliant with all applicable laws, guidelines and best practices regarding the protection of personal data.

Our  DPO:

1. Provides advice and guidance to CCB management with regards to all relevant requirements regarding the protection of personal data;
2. Monitors CCB’s compliance with such requirements;
3. Is consulted regularly and provides advice during Privacy Impact Assessments (PIA’s);
4. Is invited to all Operational Risk Committee meetings;
5. Is involved when there is an escalated situation involving the privacy of a data subject
6. Cooperates and consults with applicable authorities when necessary.

Our DPO is involved when a data audit as well as our ISAE3000/SOC2 Security and Confidentiality audit are conducted.  He is also instrumental in the implementation of compliance tools and acts independently.  Our DPO is adequately resourced and is free to report directly to senior management to raise any relevant concerns with regards to the protection of personal data.