We provide reliable, up-to-date information to support lending decisions

The new legislation is not yet adopted

The legal act that will govern the Positive credit register is being prepared. Statements and opinions were received in spring 2021 from stakeholders in order to finalise the Finnish government's proposal to the Parliament. According to plan, the Register will open in early 2024.

The Positive credit register will contain facts about loans issued to individuals. The information saved in the register gives lenders an up-to-date report on a loan applicant's current income and loans. This helps lenders test the applicants’ creditworthiness.

What does the new Register mean for credit institutions?

The planned information-reporting requirement will concern all companies that issue loans to private individuals and the self-employed. Accordingly, the lenders must report up-to-date information on the following:

  • New loans
  • Changes to existing loans
  • Received amortizations

In addition, lenders will have to test their loan applicants’ creditworthiness based on the Positive credit register data before a new loan is issued to the applicant. For this, lenders will be required to ask for a credit register extract for each applicant.

The Positive credit register will launch in 2024

Responsibility for the Register’s design and maintenance lies with the Incomes Register Unit of the Finnish Tax Administration. At present, preparations for the Positive credit register are underway. The plan is to roll it out in spring 2024.

The ongoing program to establish the Register sends up-to-date information to its stakeholders on a regular basis. We describe the development work and arrange events for providing information to those who need it. To receive the information, updates and invitations to webinars and other events, join our mailing list. Send e-mail to: luottotietorekisteri (at) vero.fi to join.

You are very welcome to ask us a question by e-mail. We also have a Frequently Asked Questions page, also updated regularly.

Comprehensive information on credits in one register

The Positive credit register will collect comprehensive information on the loans of private individuals. The loan contracts on the register will include:

  • Home loans
  • Student loans
  • Consumption loans
  • Credit cards and bank accounts with a credit limit
  • Car loans
  • Loans for an investment purpose
  • Loans issued to self-employed individuals

Lenders must send information to the Positive credit register on all new loans issued to individuals who have a Finnish personal identity code and, in addition, domicile in Finland or income from sources in Finland. This also includes any loans issued to young people under 18.

The Positive credit register contains data on both credits and income

Information to be saved in the Register covers the up-to-date facts on lending. The Positive credit register will also have access to the data saved in the Incomes Register on wages and benefits. These data are made available to lenders to facilitate the testing of loan applicants’ creditworthiness. However, the Positive credit register will not contain information on defaults i.e. bad credit entries.