Major Group SIC 7323 - Credit Reporting Services

SIC 7323 - Credit Reporting Services

SIC 73 - Business Services
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 732 - Consumer Credit Reporting Agencies, Mercantile Reporting Agencies
  SIC 731 - Advertising SIC 732 - Consumer Credit Reporting Agencies, Mercantile Reporting Agencies SIC 733 - Mailing, Reproduction, Commercial Art and Photography, and Stenographic SIC 734 - Services To Dwellings And Other Buildings SIC 735 - Miscellaneous Equipment Rental And Leasing SIC 736 - Personnel Supply Services SIC 737 - Computer Programming Services SIC 738 - Miscellaneous Business Services
  - SIC 7323 - Credit Reporting Services
    SIC 7322 - Adjustment And Collection Services SIC 7323 - Credit Reporting Services

Establishments primarily engaged in providing mercantile and consumer credit reporting services.

Industry trends:

The credit reporting services industry (NAICS 7323) is undergoing significant transformation driven by technological advancements and changing consumer expectations. One of the pivotal qualitative trends is the increasing adoption of artificial intelligence and machine learning. These technologies are being leveraged to enhance the precision of credit scoring models, enable real-time credit assessments, and offer more personalized credit recommendations. This has led to more dynamic and accurate credit profiles.

Another crucial trend is the shift toward greater data transparency and consumer empowerment. Consumers are demanding more control over their credit data, prompting credit reporting agencies to invest in user-friendly platforms and tools that allow individuals to easily access and dispute information on their credit reports. Additionally, regulatory pressures are compelling these agencies to ensure higher data accuracy and privacy standards.

The rise of alternative data is also reshaping the industry landscape. Non-traditional data sources, such as utility payments, rental history, and even social media activity, are increasingly being used to evaluate creditworthiness, especially for consumers with limited or no credit history. This trend is expected to continue, opening up credit access to a broader population.

In the near future, forecasts suggest a continued focus on digital transformation and innovation. Credit reporting services will likely expand their suite of digital tools to improve user experience, enhance security measures, and maintain competitiveness. Partnerships between traditional credit bureaus and fintech companies are expected to grow, driving further advancements in credit analytics and reporting capabilities.

Overall, the industry is poised for a future where credit assessment becomes more inclusive, technologically driven, and consumer-centric, ultimately fostering a more transparent and efficient credit environment.

This industry is comprised of:

Consumer credit reporting bureaus

Credit bureaus and agencies

Credit clearinghouses

Credit investigation services

Mercantile credit reporting bureaus

Explore related industries:

SIC 6153 - Short-term Business Credit Institutions, Except Agricultural SIC 6289 - Services Allied With the Exchange Of Securities or Commodities SIC 8732 - Commercial Economic, Sociological, And Educational Research

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