For banks

Additional information for banking sector

On 21st May 2007, the European Parliament adopted the Consumer Credit Directive on consumer loan (amended version of the Directive of 1987). It ensures protection of borrowers, and unrestrained choice of offers available on the market. Provisions of the Directive enable each citizen of any Member State to have easier access to the financial services of the European Union market.

Click here to download the Consumer Credit Directive

Pursuant to the Consumer Credit Directive, and other legal acts of the European Union, membership in the European Union ensures free flow of goods and services, including financial services.

Wide access to the European financial market induces Polish companies and customers to use services of foreign financial institutions, within the scope of:

• opening bank accounts
• taking out consumer/business loans
• using other financial services

There is an increasing number of Polish citizens visiting Western Europe, looking for work and offers of financial services abroad (e.g. potential customers of banks). This represents a significant incentive for foreign firms to start cooperation with KRD.

Access to economic information included in the KRD register enables foreign companies to verify the payments status of their clients, both before signing any contract and within its duration. In this way, they can diminish the risk related to granting a loan, or - by monitoring customer payment history - they can anticipate possible repayment problems. The minimum scope of data required when searching for information is the tax ID number (NIP) of a given Polish entrepreneur.

All you need to use our services is to sign an agreement, have access to the Internet, and log in to the KRD system. The system operates on-line, and a checking of a client or adding a debtor to the database takes only 10 to 20 seconds.