The Creditinfo Chronicle
Over 6 million Creditinfo Predictor Scores in just one year
The increased availability of credit in Georgia over the last few years has led to the financial institutions needing to ensure that above all, those customers it is lending to, are of good credit risk. High quality credit risk management assessment is of equal key importance, for both the customers, in order that they are dealt with in a responsible manner, and for the lenders, to have good quality portfolios.
Banks and other financial institutions have identified through their in-depth analysis that, one of the critical components of high quality credit assessment in Georgia is the Creditinfo Predictor Score provided by Creditinfo Georgia, which enables them to understand the risk of individuals or businesses that are requesting credit. Not only is this Score used when assessing credit, but also for regular checks of the customer’s credit worthiness, in order that, outstanding loans and credit card agreements can be assessed before any serious repayment problems occur.
Creditinfo Predictor provides a most powerful and effective way of assessing the information held at Creditinfo credit bureaus. Evaluating credit bureau data is an integral part of the consumer lending process. The potential of this data goes far beyond the existence, or not, of historic bad payments. The in-depth analysis performed by Creditinfo as part of the development of Creditinfo Predictor for both businesses and individuals, unlocks the full power of the data. This includes economic data, credit activity and demographic information. Continue reading »
Activity and Progress
Almar is the CEO of Creditinfo International
I hope you guys are well into your year, spring will be in the air soon and lots of things going on. In my 5 years in Creditinfo, I have never witnessed so much activity and progress.
It is truly a lot of exciting challenges that we have ahead of us and we should ensure we do our best but don’t forget to have fun while at it.
Creditinfo is entering an interesting era in its life and it needs all of us for guidance and help to go from being an unruly teenager to become an unruly adult!
Creditinfo – Back to Baku
Creditinfo recently provided effective training and consultancy for Bank Standard in Baku, Azerbaijan, in succession to the Bank recently developing an in-house application processing system and integrating a scorecard developed by Creditinfo Solutions into the software.
The training and consultancy were carried out over 5 days in relation to the Bank Standard’s application processing system and credit granting processes. The project included a complete review of their in-house application processing solution, along with a basic review of the operations and roles management at the head office. Continue reading »
Creditinfo Lithuania examined athletic form
After the final financial results of 2013 Creditinfo Lithuania refreshed team playing water polo and table tennis.
Why use a Credit Bureau and the impacts in markets
Paul Randall, Business Development Director, Creditinfo International, and one of our regular Creditinfo Academy speakers and trainers, today gave a presentation on “Introduction to Credit Bureau and Achieving Benefits of Credit Information Sharing Initiative”.
Paul discussed the different infrastructure of a Credit Bureau, and went on to discuss four key market changes after a Crediti Bureau is introduced into the market place. He discussed a case study in Georgia.
You can view Paul’s presentation here: Why use CB and impact on the markets – Paul Randall
You can watch Paul’s presentation video here: Vimeo
Tel: +33 60 79 34 884
Email: paul.randall@creditinfo.com
Linked In: www.linkedin.com/profile/view?id=1195768
Pauls’ Bio
Mathematician by education, risk manager by experience. With over 26 years experience in credit risk management, Paul Randall has been working with Creditinfo since April 2007. Following graduation he worked with 2 retailers on the financial services side JD Williams, M&S Financial Services, then moved to the Co-operative Bank. During the period of his employment Co-operative Bank was an innovative provider of banking services and the risk management environment to support it. It was one of the first orgainstaions to deliver a enterprise wide customer risk assessment supporting all decision processes. He then moved to the consultancy side, the head of scoring and consultancy in Scorex in UK for 7 years then member of the Experian-Scorex Global Consultancy Team for 7 years. During this period led both direct client consultancy for risk management and Basel II in addition to best practice documentation. The global support was across over 25 countries, such as Taiwan, US, UK, South Korea, Brazil and Hungary. At Creditinfo he was initially managing director of Creditifno Decision then has moved to the Director of Business Development.
Da Afghanistan Bank (DAB) extremely satisfied with Creditinfo’s Public Credit Registry System
Creditinfo recently designed a system to record and analyse credit information for Da Afghanistan Bank (DAB). The new system was implemented in December 2013, less than 9 months after the tender organised by the Central Bank of Afghanistan (in cooperation with the World Bank, International Finance Corporation (IFC) and Harakat Organization) was won by Creditinfo.
Director General for PCR Department of DAB, Mr. Nesar Ahmad Yosufzai recently stated “PCR is extremely satisfied with the implementation of the PCR project to date. The PCR system reduces risk for the banks, enhances loan data quality, and accelerates the process in granting loans whilst maintaining healthy competition. Continue reading »
Players of the month: Iceland
Congratulations everyone at Creditinfo Iceland.
Four years ago, Creditinfo Iceland introduced a new product: Strongest in Iceland.
A detailed analysis is carried out annually highlighting Icelandic companies that have achieved top marks for their strength and stability in the market place.
Creditinfo Guyana provides service to prevent identity theft
It was only a few weeks ago that a warrant was issued for the arrest of a 47-year-old woman who, posing as one of Guyana’s local beauty queens, Olive Gopaul, was able to fraudulently obtain money from several prominent business entities.
But members of Guyana’s only credit bureau—Creditinfo, are contending that such an unfortunate situation could have been prevented in just one minute.
Read more here: http://www.kaieteurnewsonline.com/2014/02/09/creditinfo-provides-service-to-prevent-identity-theft-within-seconds/
Increasing Financial Inclusion in West Africa – VoLo and Creditinfo Joint Venture. AfDB involved.
Creditinfo and VoLo Africa are pleased to announce their agreement to merge their credit bureau operations and establish a joint venture (JV), Creditinfo VoLo Africa, with the objective of working together in West Africa, in the area of credit bureaus, risk management and biometric information.
The initial intention of the JV is to set up operations in Gambia and Senegal, with Creditinfo Cape Verde also becoming part of the JV. An additional 7 countries are also planned upon receipt of regulatory clearance and approval.
The partnership brings together the Creditinfo experience of developing credit bureaus and risk management solutions in developing markets such as Tanzania, with the VoLo experience of biometrics and in depth experience of West Africa financial services.
Both organisations will actively be involved in steering the future of the business in Africa, bringing structure and strategic direction with the aim of increasing the stability of the African financial system and stimulating investment and financial inclusion, to create an environment in which the African banks can provide the required facilities for all borrowers, ranging from small enterprises and micro enterprises.
25th Annual Meeting of “the Club” for Banks and Credit Institutions from Africa
Several leaders of banks and credit institutions from Africa met in Abidjan, Ivory Coast on 6th & 7th February 2014 for the Annual Meeting of the Club des Dirigeants des Banques et Institutions de Crédit d’Afrique (the Club). The meeting marked the 25th anniversary of the Club.
At the opening session, the Prime Minister, Mr. Daniel Kablan Duncan voiced his pleasure at the Club choosing to meet in the Ivorian economic capital.Creditinfo were equally pleased to be invited to deliver a presentation advising on the benefits of establishing a Credit Bureau and how the banks and credit institutions should be prepared for the arrival of a central risk.
During his welcome, Mr. Duncan advised that the growth dynamics of African states should be accompanied by the African banking sector. In this sense, he also spoke of the banking sector supporting the financing of major infrastructure projects likely to consolidate the development of states.
Selling is Simple
That is according to Alex Lazarov, CEO of Creditinfo Solutions. Alex shared a presentation with Creditinfo employees on how sales can be changed from what many deem to be a difficult task into something quite enjoyable. He spoke about the basics and then got into the nitty gritty of working effectively with your customers and the “What’s in it for me” concept.
You can watch the presentation video he
re: Vimeo
Alex can be reached at:
Email: a.lazarov@creditinfosolutions.com
Skype: alexander.lazarov3
Linked In: ca.linkedin.com/pub/alexander-lazarov/41/784/1b2
Alex’s Bio
Alex has over 15 years of management experience internationally. Over the last 10 years he specialized in the field of Credit Risk Management with careers at Toronto Dominion Bank and Bank of America at the VP level. Some of his responsibilities included managing banking operations, creation and implementation of loss prevention strategies, and portfolio risk/reward analyses. In August 2012 Alex became the CEO of Creditinfo Solutions. In this role he is responsible for the overall activities of the company, for the support of numerous clients worldwide, and for the project delivery and product development of various solutions in the realm of Credit Bureaus and Risk Management. He is also a certified Advanced SAS Programmer and Predictive Modeler, has degrees in IT and Management, and enjoys playing chess.
Creditinfo announces Iceland’s Strongest Companies of 2013
Creditinfo Iceland has recently published “Iceland‘s Strongest Companies 2013”.
Creditinfo annually carries out detailed analysis, highlighting Icelandic companies that have achieved top marks for their strength and stability in the market place. Of the 33,000 publicly and privately owned companies registered in the Icelandic Company Directory, only 462 (1.4%) of these organizations passed the conditions, set out by Creditinfo, in order to receive the coveted award of being one of ‘Iceland’s Strongest Companies’.
Creditinfo believes that in smaller economies, it is more important to assess a company’s strength through the stability of their operational performance over time, as opposed to reviewing only one fiscal year. This long-term assessment prevents the inclusion of companies that cannot withstand market fluctuations, such as was the case for a number of businesses in the economic collapse of 2008.
Mr. Bjarni Benediktsson, Finance Minister – Iceland
Approximately 600 representatives from 225 companies attended an impressive and inspiring event on 13 February 2014 at the Hilton Nordica Hotel to celebrate and acknowledge the prestigious status of being named as one of Iceland’s strongest companies. The awards were given in three categories based on Total Assets: 80-200 ISK millions, 200-1,000 ISK millions and 1,000+ ISK millions. (Approx. 0.5 – 1 millions euros, 1 million to 6.5 million euros and 6.5 million euros plus). Icelandic Finance Minister, Mr. Bjarni Benediktsson (pictured) and Creditinfo Iceland‘s CEO, Mr. Hákon Stefánsson were pleased to present the awards to the leading organisations during the ceremony. Continue reading »
Creditinfo Lithuania welcomed Dakar rally racer
Annual financial results presentation at Creditinfo Lithuania was marked by famous rally racer Benediktas Vanagas visit.
Less than a month before Benediktas successfully participated in Dakar rally and finished it in high 35 position. It was second Dakar rally in his career. During the visit he told about his career in sports, physical preparations for Dakar, daily routines, his business and other issues.
Benediktas is one of the most experienced sport car pilots in the Baltic countries. Throughout his career he tried completely different kind of sport cars. Benediktas started in circuit racing, then he went to the car rally.
This is how we looked together.
Malta Team Building Activity – Combat Archery!!
Creditinfo Malta last month organized a fun combat archery session as a team building activity.
This experience gave the employees the chance to be split into different groups and work together to carry out the various missions assigned.
This also gave the opportunity to aim and shoot, with bow and arrow, at anyone. Needless to say the most popular target was Simon (CEO)…
Players of the month: Vytautas Pociūnas and Team Lithuania
Individual Player
Congratulations to Vytautas Pociūnas, Sales Manager, Creditinfo Lithuania, who entered the “Millionaire’s Club” after reaching one million litas sales through his successful career at the company.
Vytautas has worked at Creditinfo for four years. He is 4th Creditinfo Lithuania employee who achieved one million litas sales.
Among his clients are the biggest Lithuanian brewery Švyturys-Utenos alus (belongs to Carlsberg), shipyard company Vakarų laivų gamyklos grupė which belongs to BLRT Grupp concern, and other well known companies in Lithuania.
Team Player
Congratulations everyone at Creditinfo Lithuania for:
- Being the best bloggers on the intranet
- Regularly supporting and promoting CI Lithuania through not only the usual marketing methods but also by entering various competitions whether it be football, best employer of the year (I love my Creditinfo), Miss Office Lithuania etc
- Great team spirit – shown by the various team building activities they participate in each month from sports contests, golfing days, dressing up is a favourite and there is usually a beer or cocktail involved too. You can watch a video of their antics (which was created for I love my Creditinfo) – click here to download and watch.
- And they still find the time to generate a lot of sales and profit for the business!
Keep up the great work guys!
