Modernizing National Credit Data: Bank of Israel
When the Bank of Israel began implementing the Credit Data Law in 2016, it set out to drive one of the most significant structural transformations in Israel’s retail credit market. The objective was clear: to increase competition, improve risk assessment, and enable more accessible and personalized credit for the public through the creation of Israel’s central credit data repository — a reliable, comprehensive and anonymized source of information.
To bring this vision to life, the Bank of Israel needed a technology partner capable of leading a national, large-scale, highly regulated, and mission-critical system. Following a competitive selection process, Matrix was chosen to design, build, operate, and maintain the national credit data-sharing system.
The Challenge
Building a national credit data repository required combining strict regulatory requirements with the highest levels of data security, alongside integration between multiple external information sources. The project had to adhere to tight timelines and rigorous quality standards, while ensuring long-term continuity — with a system designed to evolve and support a growing, dynamic credit market.
The Solution – A National-Scale Technology Program
Over approximately 18 months, the technological foundation of the Credit Data Repository was developed through close collaboration between Matrix, the IT Division of the Bank of Israel led by CIO Avner Ziv, and in partnership with Rafael and HPE.
The investment in the project exceeded 130 million NIS, making it one of the most complex public-sector IT initiatives undertaken in Israel in recent years.
In 2019, the system successfully went live. Since then, Matrix has been responsible for the full operation and ongoing maintenance of the repository, under a long-term agreement ensuring reliability, security, evolution and continuous service excellence.
Impact & Results
Since its launch, the Credit Data Repository has become a core infrastructure element of Israel’s credit market, enabling:
- Greater competition among credit providers — allowing better-informed and more tailored offerings to consumers
- Improved access to credit for broader segments of the population
- Enhanced financial risk management across banks, non-bank lenders and fintech companies
- Strengthened supervision, research and policymaking capabilities — through anonymized national-scale data supporting macroeconomic insights and policy development
A Long-Term Partnership
Today, several years after launch, the repository is a continuously evolving platform — and Matrix remains committed to operating, maintaining, enhancing and expanding it, ensuring stability, security and growth for Israel’s credit ecosystem.
This program demonstrates how deep collaboration between the Bank of Israel and the technology sector can drive genuine structural change — directly influencing the financial opportunities available to millions of citizens.