You might notice that not all of your business's bank accounts and credit facilities are listed on your Capitalise credit profile. This is usually because not all financial institutions (banks and lenders) contribute data to Experian's Current Account Turnover (CATO) and Credit Account Information Sharing (CAIS) schemes.
Experian's data sharing schemes (CATO & CAIS) rely on participation:
Experian gathers bank and credit account information through two key schemes:
CATO (Current Account Turnover): for current accounts.
CAIS (Credit Account Information Sharing): for credit accounts (loans, credit cards, lines of credit, etc.).
The key reason is voluntary reporting by financial institutions
Participation in both the CATO and CAIS schemes is voluntary for banks and lenders. This means that while many major financial institutions do contribute data, not all of them are enrolled in these schemes.
Why some accounts might be missing
Your bank or lender is not a contributor: if your specific bank or the lender providing a particular credit facility does not participate in the CATO or CAIS schemes, then information about those accounts will not be reported to Experian and, consequently, will not appear on your Capitalise credit profile.
New accounts: even if your financial institution is a participant, it can take some time for newly opened accounts to be reported to Experian and subsequently reflected in your credit profile.
What you can do (limited direct influence):
Unfortunately, you cannot directly instruct your bank or lender to begin reporting your account information to Experian if they are not already doing so. The decision to participate in the CATO and CAIS schemes rests with the financial institution itself.
Act on what you can see:
The accounts that are visible on your Capitalise credit profile provide insights into your business's financial management and credit behaviour. Make sure you maintain a positive track record with these reported accounts.