BARTELS TO SPEAK AT THE WORLD BANK FINANCIAL INFRASTRUCTURE WEEK IN RIO DE JANEIRO MARCH 14 - 17, 2011
WORK ON KEY REGULATORY MATTERS ON CHINA CREDIT REORTING. Participation in consultation process with BIIA members and regulators
BARTELS KEYNOTE on THE STATE OF BUSINESS INFORMATION at the EADP Convention in Prage September 17th 2009. Scroll down to visit the summary of the Keynote and presentation
INTRODUCTION TO MAJOR ASIANS MARKETS and key prospects for a European client
KEY CUSTOMER SEGMENT ASSESSMENT: Strategy Development to Address Relationship Issues for major industry player
INTRODUCTION TO MAJOR ASIAN MARKET and selection of potential partners for a European client
CHINA REGULATORY DISCUSSION: Survey of global regulatory regimes on commercial credit information and credit rating. Development of discussion strategy. Acting lead Delegate for BIIA (Business Information Industry Association Asia – Pacific – Middle East) on Regulations for Credit Information Services. Presentation and leading discussion with Chinese regulator on credit information regulations.
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Jiang Zengwei, Vice Minister of Commerce at the Ministry of Commerce of China stressed that 2011 is the first year of the 12th Five-Year Plan period, and it is of great significance to make full efforts to accomplish the work of credit system building in the commercial field. What this means in Western terms is to enhance the commercial credit system (access to credit), deployment of modern credit risk management and information services. The Ministry of Commerce has published for public consultation its Guiding Opinions in this regard.
In essence the Guiding Opinions stress the point that access to credit for businesses is regarded as an important element for economic growth. To enhance credit in the commercial area however would require the deepening of the understanding of the role of credit in commercial transaction through education. It would also require legal frameworks for disclosure and compliance, data protection and a regulatory framework for the financial services sector. Development of regional credit information databases, credit risk management services and the sharing of credit information are essential tools to limit the risk. Strengthening industry self-regulations and permit private enterprise and associations to participate in infrastructure was seen to be an important success factor in enhancing the commercial credit system in China.
If some of it comes to fruition there will be plenty of opportunities for companies in the field of credit information, risk management tools and decision support systems.
Nevertheless it would be advisable for the Ministry of Commerce to focus first on the availability of accurate and timely public sector information (business and collateral registers) to provide the much needed raw material for credit information and risk management tools so that they can provide value and function effectively.
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Bartels participates in standard setting forums such as the World Bank and the IFC (World Bank Group) on behalf of the Business Information Industry Association
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Joachim C Bartels spoke at the recent annual convention of EADP (European Association of Directory and Data Base Publishers. He was asked to present a birds-eye view of the “State of Global Business Information”, and specifically speak about credit information as part of a discussion panel on content information. Opening this session Bartels defined the business information and credit information markets using an Outsell (BIIA Member) definition. He discussed the change drivers from the viewpoint of the bargaining powers of customers, suppliers, direct and indirect competition.
Bartels elaborated on bankers’ and economists' concerns regarding “Asymmetry of Information”; meaning that information availability and quality are not supporting information needs to make financial decisions. There is also the notion that asymmetry of information was the cause of the credit crunch. Bartels discussed the role of information in this debacle and the question: Was the credit information industry a culprit or victim?
In closing his presentation, Bartels focused on the shape of things to come and the success factors to survive the current crisis. Bartels believes that the credit crunch, like the Asian financial crisis more than 10 years ago, will be a catalyst for significant change. As a result of the crisis the credit information industry has become highly visible. For example the G-20 asked the IMF and the Financial Stabilities Board (FSB) to offer recommendations in time for the next meeting of G-20 Finance Ministers and Central Bank Governors in November. This request was endorsed by the IMF’s International Monetary and Financial Committee. The IMF and the Financial Stability Board (FSB) are working together to help identify the information gaps exposed by the global economic crisis and to come up with appropriate responses. The outcome could be a recap of what has come to light during the past two years, plus more regulations or new services to provide better transparency on systemic risk.
During the past two years the rating agencies have taken substantial heat. They will have to get used to more regulations and significantly reduced margins. Therefore investors will be value them differently. Having been thoroughly humbled it is hoped that they have shed their arrogant behavior and will get on with the business of repairing their tattered reputation. Will rating agencies eventually go away? Not likely! They are too deeply entrenched in the financial system.
Credit information suppliers will be put under greater scrutiny in terms of transparency of decision models, credit scores and the underlying quality (breadth and depth) of information. There will less demand for transaction based services and the industry will have to survive on liquidity management tools for the time being. For the consumer credit information industry the focus will be on diversification: Away from an over-reliance on the financial services sector. Other industry verticals such as health care information, payroll processing and employee screening are being tapped. The need to grow will spur acquisitions and geographic expansion.
Commercial credit information will be on the top of the consumer credit information industry’s list for expansion and the next battle ground in terms of investment and revenue growth will be in the SME sector.
However what the industry needs to be aware of is the fact that the information customer today has a multitude of choices in terms of information sources. Customers today have the tools to integrate internal data with external information, and customize the information for a multitude of business functions and decisions.
To view the presentation click on the attachment
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Der ehemalige Federal Reserve Chairman Greenspan gab vor einiger Zeit sein ‘mea culpa’ vor dem US Senatsausschuss ab. Es sei seine Schuld und er ist entsetzt ueber die unverantwortliche und ruinoese Kreditgewaehrung.
Joachim C. Bartels gab am 9. Dezember einen Abriss ueber die Ursachen und Auswirkungen der Finanzkrise fuer die Mitglieder der Volkshochschule Giengen / Brenz. Seine Ausfuehrungen sind in der beigefuegten PowerPoint Praesentation festgehalten.
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When the credit crunch became evident in the fall of 2007, yours truly anticipated that it would hit main street sooner of later. By the beginning of 2008 some felt the crisis could be contained to the financial services and housing industry.
In September of 2008 the credit crunch developed into a global financial crisis of a magnitude not seen since the great depression. The IMF anticipates a composite* negative GDP growth in 2009 (*Based on GDP of 31 major economies).
Notwithstanding the beginnings of a massive financial bailout, credit is still frozen and consumers have fully entrenched. Most likely there will be subdued Christmas shopping this season.
The information industry, in part has been blamed to some extent for the crisis, in particular the ratings industry. However in the value chain of getting financial instruments to market there are many participants who share blame for the crisis. This presentation (see attachment) illustrates key elements in the value chain and identifies some of the major flaws in creating and rating subprime debt instruments.
November 2008
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Joachim C. Bartels presented at SIIA’s Global Information Summit in London on September 11th. He discussed the regulatory, economic, socio-cultural and technology factors impacting information content in China.
Many centuries ago China led the development of content and information technology by inventing paper, moveable type and record keeping. These innovations fueled the rest of the world’s quest for knowledge until today. However self imposed isolation put an end to further innovation right up to the final days of Mao.
Today China’s content industry is becoming as dynamic and innovative as its Western counterparts. Thanks in part to China’s investing public, which has become enamored by b2b digital media and e-commerce platforms driving their share prices to speculative levels not seen in Western financial markets.
However, when outsiders contemplate entering China’s content market they will quickly experience the challenging nature of a tough regulatory regime, social and cultural aspects as well as an imperfect legal and business infrastructure. In addition information technology is driving change which keeps these key aspects constantly in motion, therefore the rule of today may no longer the be rule of tomorrow.
Navigating information content in China therefore requires specific skills and experience, reliable local partners, and above all stamina. It is not a market for the faint hearted nor for those seeking quick financial gains.
To view the presentation, please click on the attachment.
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Germany regards itself as the pristine custodian of sensitive private data and has always come down hard on anybody who purloins private data from whatever source. However in the interest of catching tax dodgers, the German Ministry of Finance saw fit to pay a thief, who stole the confidential client data of a Liechtenstein bank, the incredible sum of US$ 6,2 million.
TO READ THE FULL STORY PLEASE CLICK ON THE ATTACHMENT
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The panel on the State of Information consisted of three speakers:
Joachim C. Bartels, Managing Director of BIIA and Chairman of Intrepid Explorers Inc.
Johnny Kiatnuntavimon, Deputy General Manager, BOL Thailand
Tony Lythgoe, Credit Information Expert, IFC (World Bank Group)
Presented at the BIIA Credit Management & Information Forum 2008, Hong Kong
For further information on the BIIA Credit Managment & Information Forum please access http://www.biia.com - Industry Library headings BIIA Forum 2008
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Geneva Private Capital Symposium on SME Finance. September 2007 Organized by Centre for Applied Studies in International Negotiations (CASIN)
Joachim C. Bartels presented on the topic: Financial Infrastructure & Risk Mitigation
- Commercial Risk Information -
The organizers summarized the reaction of the audience:
Dear Joachim,
Without further delay let me thank you for your active engagement in the Geneva Private Capital Symposium on SME Finance. Thanks for accepting to
jump in for David Emery and for sharing with us not only your Dun & Bradstreet experience but also your work at the Business information Industry Association (BIIA). You brought a complete picture of the challenge of aggregating and using business information for SME investing. I was very excited to hear the questions your presentation provoked the representatives from Google Foundation. Perhaps some concrete cooperation can result from
putting together your strengths?
Ximena Escobar de Nogales
Director ad interim
Centre for Applied Studies in International Negotiations (CASIN)
Founder
Geneva Private Capital Symposium
Av. de la Paix, 7bis
C.P. 1340
1211 Geneva 1
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Joachim C. Bartels presented on behalf of BIIA (Business Information Industry Association Asia Pacific - Middle East Ltd.) on the topic of The State of Information in Emerging Markets. He stessed the urgent need in users and providers of credit information to work jointly on important elements in overcoming the information deficit in emerging markets.
http://www.biia.com
http://www.fcibglobal.com
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Joachim C. Bartels presented at the INTERNATIONAL BUSINESS LAW INSTITUTE IN MINNEAPOLIS, MI, USA on April 24th, 2007 about the role of Business Intelligence in investment decisions and the State of Information in China and India.
For further information please contact: ieijcb@attglobal.net
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NEWS FROM THE SIIA GLOBAL INFORMATION SUMMIT IN BERLIN 2007:
To fathom the enigma Germany and to provide a contrast between the German, European and Asian information economies, SIIA member Joachim C. Bartels, of Intrepid Explorers, Inc. a US based information consultancy, interviewed Dr. Willi Bredemeier of PASSWORD at the SIIA Global Information Industry Summit.
To read the full interview, please click on the attachment
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Joachim C. Bartels presented on behalf of the Business Information Industry Association Asia Pacific - Middle East Limited about the key issues in providing e-credit information as part of UNCTAD's program to lift economic development through Information and Communications Technologies (ICTs).
Discussed were impediments such as underdeveloped Public Records Infrastructures, lack of mandatory disclosure, lack of regulatory frameworks and too stringent bank secrecy, which impacts negatively the availability, accuracy, reliability and timeliness of e-credit information.
http://www.biia.com
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Joachim C. Bartels assisted the World Bank in a survey about the effectiveness of business credit information and the relationship between the credit information suppliers and the public sector information (PSI).
The survey was undertaking in 2006 in which 75 information companies participated world wide.
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Bartels advised in the development of the UNCTAD report and is credited in the acknowledgement, references and bibliography section.
http://www.unctad.org/ecommerce
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BIIA held its first Information Industry Forum on December 7th, 2005 in Shanghai, PRC. For three hours a group of credit executives and information executives discussed the future trends in trade credit granting and the potential implications on credit information. The BIIA Forum was moderated by Joachim C. Bartels (Source: http://www.biia.com)
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Bartels highlights the digital divide between public sector information and private sector information providers in developing countries. He presents the Thai public sector / private sector information partnership as an effective role model in creating economic value through the availability of accurate, reliable and timely information.
The Development Gateway is an independent Foundation (originally launched by the World Bank). It is taking up breakthrough web technologies that have unleashed productivity, creativity, and wealth creation in developed countries, putting them to use in developing countries for the purpose of overcoming poverty!
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Joachim C. Bartels was a key note speaker at the FCIB's April 2005 International Credit Executive Conference in Chicago.
Bartels spoke about the latest information developments in emerging markets and the risks posed by imperfect information.
http://www.intrepidex.com
http://www.biia.com
FCIB is an association of executives in finance, credit and international business
http://www.fcibglobal.com
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Presentation by Joachim C. Bartels on Achieving Growth through Credit Transparency
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Presentation by Joachim C. Bartels at the First China Credit Management Conference on the Role of Informatin in Credit Risk Assessment and the State of Information in Emerging Markets
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Joachim C. Bartels Participation in the Panel Debate on India and China
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Joachim C. Bartels Presented at the Bundeskrongress for Credit Management at Goettingen, Germany on the Value of Information and Information Pooling
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http://www.gowerpub.com
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