The Financial Clearing Bureau (FCB) is Zimbabwe's leading and original credit clearing and reference bureau. FCB was formed in 1990 since which it has serviced the financial services sector's credit clearing and referencing needs in Zimbabwe. FCB membership is open to all types of credit providers as well as public and private sector companies that have need of vetting customers, business partners, agents or staff.
FCB has the largest database and processes more searches every day than any bureau in Zimbabwe. The FCB database comprises millions of records of information on individuals and companies. FCB data does include negative records regarding bad debts, civil judgments and criminal records. However, the vast majority of records in the FCB database are positive in nature.
FCB's new web-based search and reporting facility, available 24x7, offers users instant access to search on individuals and companies with both positive and negative reports, including a statistical score, delivered to the desk-top. This dramatically reduces operational costs, improves turnaround times, supports the decision making process and helps manage risk.
FCB currently has circa 40 active subscriber institutions and has processed well over 1 million searches so far in 2014 from members, via either the web-based facility or batch files, including, but not limited to; banks, microfinance institutions (MFIs), mobile network operators (MNOs), retailers, and other trade credit providers.
Other services offered by FCB, besides the web-based search and reporting facility, include; Portfolio Check or Monitoring via batch file, CPU-CPU Searches via web-service API, Certificates of Clearance (for individuals or companies wishing to clear their name), the SME Rating Programme plus bespoke expert scoring model development and consulting services.