The new Credit Reporting Privacy Code represents a significant change for the credit industry, consumers, and for Baycorp Advantage. While the Code does not apply directly to the activities of credit providers, the Code imposes some significant new obligations on Baycorp Advantage in relation to our dealings with clients.

To help our clients understand the implications of the Code and communicate the progress Baycorp Advantage has made with it's implementation program, the first in a series of customer forums was held in May. This road show visited Dunedin, Christchurch, Wellington and Auckland with strong interest shown in all cities as to the progress Baycorp Advantage had made to date.

As of the first implementation date, 1 April 2005, some of the key initiatives launched include the free credit file service available at www.mycreditfile.co.nz.  Baycorp Advantage’s focus is now on the second implementation date of 1 April 2006. This series of forums provided an ideal opportunity to communicate the progress made thus far and also seek feedback on some of the changes scheduled for the year ahead.

While this second implementation date appears a long way off, Baycorp Advantage has a committed project team of eight specialists who have been working on understanding the business and technical implications of the Code since December 2004.

The May forums were the start of an intensive communication program of forums and seminars scheduled throughout the remainder of 2005 and 2006. These events will principally focus on the Credit Reporting Code, however, other topical issues will also be addressed.

Many customers will have already received invitations for larger seminars that will be held in Auckland, Wellington and Christchurch during the latter part of July with further seminars scheduled for Australia during August.

For more information on these seminars and future events please visit www.baycorpadvantage.com/vantage for regular updates.