In line with its announcement made back in October 2017, NAB yesterday commenced Comprehensive Credit Reporting for personal loans, credit cards, and overdrafts. NAB thus becomes the first major Australian bank to endorse CCR, voluntarily joining well ahead of the Government's mandatory scheme, which had its first key day of 28 September 2018.With CCR, positive credit information will be added - including which accounts have been opened, credit limits on those accounts, and details of monthly payments made as well as missed."Under Comprehensive Credit Reporting, we now have a more holistic picture of a customer's credit situation, so we're better able to make sure our customers receive the right type and amount of credit for their individual circumstances," Antony Cahill, NAB's chief operating officer, said via media release."A number of smaller players have been participating in CCR already, and the Government recently released draft legislation to make it mandatory for all the major banks."This will provide a more complete picture of a customer's situation, and mean that lenders like NAB are better able to match our provision of credit to a customer's individual needs."Cahill's optimism is countered by a reality check from Simon Bligh, CEO of illion (formerly trading as Dun & Bradstreet) who, while keen to congratulate NAB, warns of more work ahead: "it's the first step in a long journey, as Australia is just about the last advanced country to adopt positive credit reporting."Nevertheless, Bligh takes a pragmatic view that it's better to have made a start on an imperfect system, than wait for perfect result that may never be set up. "We're probably three years away from having everybody in with two years' history," he told Banking Day."The legislation in 2014 created a concept of partial participation, such that even when the other majors join in, the data set will still be missing major categories such as mortgages, and important data such as the full repayment history of any debts," Bligh said."Our very first defaulter profile is for a female 23-year-old who doesn't pay her mobile phone bill. "All banks will load all details for cards and their personal loans portfolios. We're still a long way short."And then she gets into an apartment and does a runner on her utility [bills], gets a credit card, and doesn't pay that. So, there is no question that telco and utility data is extremely valuable to banks in determining in determining the first sign of risk," he said."And we see that in New Zealand, where telcos and utilities are allowed to participate in [that country's] CCR."