You can see the rules and regulations in other jurisdictions.
Credit information services are generally governed by Type 10 regulated activities (providing credit ratings services) under the SFO, pursuant to which 'credit ratings' means opinions, expressed using a defined ranking system, primarily regarding the creditworthiness of a person other than an individual, debt securities, preferred securities or an agreement to provide credit. The corporation carrying out these regulated activities will also be required to comply with the Code of Conduct for Persons Providing Credit Rating Services, as issued by the SFC in June 2011.1
I have over 22 years of experience in legal practice, most of which is accompanied by e-com and fintech projects
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You can launch your platform by paying $5000 initially and the rest after 6-12 months if your business grows