Industry & Consumers
Making Better Credit Decisions
ARCA was established in 2006 to provide an industry forum to advocate for improvements to Australia's credit reporting system.
Since inception, ARCA has represented the views of the wide-ranging organisations involved in consumer credit decisioning and management.
Our purpose has always been clear: to improve availability of credit through responsible and efficient credit management policy and practice.
By bringing industry together, ARCA was able to successfully advocate for the introduction of comprehensive credit reporting in Australia, which was introduced in 2014 following major changes to credit reporting laws.
To support industry to implement comprehensive credit reporting, ARCA developed the business-to-business rules and data standards under which credit reporting information is exchanged between credit providers (the Principles of Reciprocity and Data Exchange and the Australian Credit Reporting Data Standards).
ARCA also developed and has subsequently varied the Privacy (Credit Reporting) Code which was approved by the OAIC and sets out the obligations and rights of consumers and businesses arising under the Privacy Act. ARCA continues to govern and support implementation of credit reporting across the Australian consumer credit industry.
Education is one of ARCA's key pillars. The CreditSmart consumer education campaign is proudly led by ARCA on behalf of industry. CreditSmart was awarded the 2014 MoneySmart Outstanding Achievement Award, recognising the campaign as the most effective contribution to improving consumer financial literacy in 2014.
The ARCA Credit Summit - a three day event which includes practical workshops, expert speakers from industry and regulators and networking - is now in its eighth year. It has grown from welcoming 120 delegates in 2013, to become the premier annual event in the consumer credit industry, welcoming almost 500 industry professionals from Australia and New Zealand.
Looking ahead, ARCA remains driven by a clear vision of industry and consumer making better credit decisions.