A thought-provoking discussion has taken place about corporate sustainability information and the increasing regulatory requirements of such frameworks. It is often pointed out that the cost of disclosure can be high and the process complicated. In this context, it is worth noting that corporate sustainability information goes beyond the data that public authorities require them to publish. Corporate sustainability data appear, for example, in lawsuits, the media, annual reports, and various forms throughout the value chains of companies, to name a few examples. To capture corporate sustainability data comprehensively, it is also important to place companies in the context of the industries they belong to and the risks they face, both directly and indirectly, through their value chains. While standardized data mandated by government requirements represent a significant step forward, they are only one piece of the puzzle of information needed by the financial market and, in some cases, are not even the most critical information that market participants need.
Sustainability Information Will Remain Unreliable
Corporate sustainability information has evolved from being a product of marketing departments to following guidelines generally accepted by market participants and ultimately falling under regulatory frameworks. Despite recent complex regulations related to sustainability disclosures (such as the CSRD, the EU Taxonomy Regulation, and SFDR), these are not exhaustive of the information that market participants need for informed decision-making. This means that if an analyst is to assess a company with sustainability in mind, there are other factors, beyond what the regulatory framework prioritizes and companies report. These include external factors in companies’ value chains, such as crop failures abroad, fluctuations in commodity prices due to weather anomalies, access to company products in key markets due to social instability, as well as information generated more frequently than annual reports can indicate (such as information from lawsuits and the media). The data companies will provide in line with regulatory frameworks represent a significant step forward, but only the first step toward more reliable sustainability disclosures.
Access to Data Would Have Been a Problem
Even though companies disclose information in accordance with regulations, this does not guarantee stakeholders’ access to it. Part of the problem is technical in nature, as sustainability information is published in, for example, scanned annual statements, various types of sustainability reports, and websites in formats that do not always comply with regulatory guidelines. The European Union has not addressed this issue clearly. At some point, the European Union will establish a database (the European Single Access Point, ESAP), which will receive reports in a predefined format. This database is expected to be operational earliest by 2027, according to official EU information. It is therefore important that sustainability data about companies are collected centrally. At Creditinfo, we proudly undertake this task as it involves critical corporate information.
Reducing the Burden on Companies
The Icelandic financial sector wants to access reliable sustainability information about companies. It seeks this information partly because legal requirements stipulate that financial institutions must have this data available, but also because financial industry employees take sustainability risk seriously, as clearly reflected in bank risk reports. Companies outside the financial market have also sent questionnaires to their suppliers to obtain sustainability information. As a result, companies often receive multiple such questionnaires every year from various sources. At Creditinfo, we see significant waste occurring here. Instead of having a multitude of questionnaires circulating, we realized that it would make more sense if companies answered one such questionnaire, making it accessible to all interested parties. That questionnaire is now available through Vera, Creditinfo’s sustainability platform, and hundreds of companies have filled it out, simultaneously minimizing the associated burden as interested parties can simply access the questionnaire via Vera.
Most companies in Iceland do not fall under the regulations that have been most widely discussed (such as the CSRD and the Taxonomy Regulation). However, this does not mean that this issue is being neglected by them—on the contrary. That is why we have made efforts to give these companies the opportunity to present their information on a larger platform than has been available to them before, through our sustainability platform, Vera.
The Reason for Collecting Data
The discussion about corporate sustainability information has focused more on the quantity and quality of the data than on the reason for its collection. The truth is that greenhouse gas emissions reached a historical high in 2022, at 54 billion tons of CO2 equivalent, about 30% of the global population lacks access to clean drinking water, 13% of individuals over the age of 15 are illiterate, and 10% of the global population is undernourished. In this regard, the financial system is in a key position to improve living conditions and our future. It is important not to lose sight of the goal and get lost in discussions about regulations and data. At Creditinfo, we want to continue to promote the reliability and accessibility of sustainability information about Icelandic companies so that informed decisions can be made for the benefit of all.
Authors:
Hrefna Sigfinnsdóttir, CEO of Creditinfo in Iceland
Reynir Smári Atlason, Head of Sustainability at Creditinfo
There is a growing need to expand the information shared with Credit Reference Bureaus ( CRBs) to include trade data. Many manufacturers, wholesalers, and retailers have reported cash flow challenges due to difficulties in recovering debts from their customers. This often results in their ability to restock or pay suppliers, further straining their operations. In Kenya, trade agreements frequently rely on informal arrangements, with limited legal recourse due to delays in the judicial systems. Could CRBs play a more significant role in addressing these issues?
As businesses increasingly rely on data to drive decision-making, it’s evident that CRBs, which currently hold financial data related primarily to bank and mobile loans, could greatly enhance their scope. While the inclusion of traditional credit data has boosted financial inclusion, expanding this to cover trade credit information especially from manufacturers, service providers, and wholesalers could revolutionise how businesses extend and manage credit.
If this trade data were collected and shared under a regulatory framework, it could enhance credit trading, improve business relationships, and further financial inclusion. Regular purchasing and payment data, when synthesized, could help businesses evaluate potential customers, set credit limits, and make informed decisions beyond traditional borrowing data.
Accounts receivable teams often struggle to recover overdue debts from customers extended credit without proper risk assessment. Introducing legislation to compel specific entities to share trade data based on factors like turnover or invoice value could help manage risk, reduce legal disputes, and cut down on costs associated with unpaid receivables.
Moreover, the Kenya Revenue Authority could benefit from improved tax collection, as greater financial discipline would be encouraged to avoid negative CRB listings, which can impact a company’s ability to do business. This would also help reduce the burden on the Judiciary, where countless civil cases related to unpaid debts remain unresolved, leading to significant business losses.
Properly managing and sharing trade credit information could streamline the business environment, improving cash flow and financial planning. Additionally, incorporating trade credit data into CRB decision making tools could help boost an individual’s or entity’s creditworthiness when seeking traditional loans. On an individual level, high value asset purchase, such as land and vehicles, could also be evaluated using shared credit sales and receipts data, providing both buyers and sellers with insights into the financial reliability of potential customers.
In conclusion, expanding the data shared with CRBs could significantly improve risk management, debtor control, and financial stability, creating a more transparent and efficient trading environment for businesses of all sizes.
Former Marsh Africa Sales Leader – Charles De Winnaar – brings a wealth of sales and leadership experience to drive Creditinfo’s international growth
London – 26th September 2024:Creditinfo, a global service provider for credit information and risk management solutions, announces the appointment of Charles De Winnaar as its Global Head of Sales Strategy and Sales Operations. As an experienced sales leader in financial services, Charles will lead Creditinfo’s global sales strategy and operations across its network of 30 credit bureaus. He joins the company from Marsh Africa, where he held the position of Sales & Distribution Leader.
In his role, Charles will be responsible for Creditinfo’s revenue growth, market expansion, and operational excellence to ensure scalability and enhance the customer experience across its different markets. From developing strategic partnerships to driving innovation in sales processes and technologies, he’ll play a key part in the next phase of Creditinfo’s international growth.
With over two decades of experience in sales and finance, Charles has a deep understanding of global financial markets and an impressive history of leading large-scale sales teams, bolstering business growth, implementing customer-centric solutions and transforming sales operations.
As Sales Leader at Marsh Africa, he executed the revenue and portfolio optimisation strategy across multiple Africa regions. Prior to joining Marsh Africa, he held various sales leadership roles at the National Bank of Kuwait and Barclay’s Bank Africa. During his time at Barclays, he led the development and launch of a first-to-market mobile payment wallet lending solution in Africa.
Charles De Winnaar, newly appointed Global Head of Sales Strategy and Sales Operations at Creditinfo said: “I’m delighted to join Creditinfo, a company that is committed to empowering people and businesses through financial inclusion. I look forward to working with the talented global team and contributing to Creditinfo’s long-term success.”
Satrajit Saha, Global CEO at Creditinfo said: “With his unmatched expertise in global markets and a proven track record of building strategic partnerships across different regions, Charles is a valuable addition to our leadership team. As we look to accelerate market expansion, harness digital transformation in our global strategy, and continue to facilitate access to finance for millions of individuals and businesses worldwide, Charles will be instrumental in helping us to achieve these goals.”
Charles will report directly to Satrajit Saha, Creditinfo’s Global CEO.
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About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
Victoria– September 11, 2024 – The Central Bank of Seychelles (CBS) has today launched the Seychelles Credit Information System (SCIS) in accordance with the Credit Reporting Act, 2023, to improve credit information sharing across the financial system.
The SCIS will be administered by CBS, which will be responsible for overall supervision of the operation of the system, as well as providing awareness on the system and its governing law. The contract to develop and implement the SCIS was awarded to Creditinfo CEE a.s., a company based in the Czech Republic, through an open bidding method as per the CBS procurement process in April 2021.
The SCIS – which replaces the previous Credit Information System established under the Credit Reporting Regulations 2012 – is an improved credit information system which will enhance credit reporting and data exchange between participating institutions. It incorporates automated features requiring minimal manual processing, hence mitigating potential risks of inaccuracies in the credit information of customers.
The current participants of the SCIS include the commercial banks, Seychelles Credit Union, Development Bank of Seychelles and the Housing Finance Company (HFC). The SCIS will continue to expand with the addition of other participants through a phased approach, to include Government entities, utility companies, hire purchase and credit sales, financial leasing companies, and insurance companies. The addition of these other entities – that are also engaged in activities that provide for payment arrangements – will give a more accurate indication of the repayment history and level of indebtedness of customers, information which is essential in the decision-making process for granting credit and loan facilities.
To note that only participating institutions can access the credit information of an individual, at the consent of the individual, in compliance with the Credit Reporting Act, 2023. Individuals holding accounts with these institutions will also be able to access their own credit report through the Customer Credit Portal, which is expected to be launched in the first quarter of 2025.
NAIROBI, Kenya, Aug 12, 2024– Experian MicroAnalytics, a global leader in mobile financial services, and Creditinfo Group, a leading global service provider for credit information and risk management solutions, have partnered to combine Experian MicroAnalytics’ mobile financial services platform with Creditinfo’s scoring models and local market expertise, providing innovative new solutions that facilitate access to finance for individuals and businesses across Africa.
Experian MicroAnalytics, renowned for its risk management solutions utilized by major telcos worldwide, brings its expertise in mobile financial services to the partnership. Their solutions, such as mobile money loans, advanced analytics and machine learning, help to support underserved populations who don’t have access to traditional banking services. Experian’s technology not only facilitates seamless financial transactions but also generates additional revenue streams for telecommunications operators and banks, if present as fund providers.
“Experian is dedicated to driving financial inclusion globally, and our partnership with Creditinfo strengthens our ability to deliver impactful solutions,” said Sammy Hamoudi, General Manager of Experian MicroAnalytics. “Together, we aim to empower telecommunications operators and fintechs to extend their services to previously underserved populations.”
Creditinfo provides comprehensive credit bureau solutions to enable informed decision-making in the financial sector. With this partnership, Creditinfo will further establish itself as the leading credit bureau provider in Africa, enhancing its business risk assessment capabilities and customer insights.
“At Creditinfo, we recognize the transformative power of data-driven solutions in fostering financial inclusion,” stated Kamau Kunyiha, Regional Manager, East and Southern Africa at Creditinfo. “Our collaboration with Experian will help individuals and businesses across Africa gain access to finance, underscoring our shared vision to drive positive change and improve the standards of credit assessment.”
As joint Gold Sponsors of Africa Fintech Festival 2024, Experian MicroAnalytics and Creditinfo showcased their partnership at the event held in Kenya in early June. The festival provided an ideal platform for them to demonstrate their collaborative efforts. Through fireside chats and conference discussions, participants were able to explore opportunities to enhance financial inclusion in Africa through future collaboration.
About Experian MicroAnalytics
Experian MicroAnalytics is a global leader in mobile financial services, providing risk management and marketing solutions to telecom operators and fintechs around the world. Our AI cloud platform increases consumer engagement, reduces churn, manages lending exposure and optimises conversion rates.
With over $4.5 billion in loans already provided by Experian MicroAnalytics, we deliver personalized financial experiences to consumers, empowering financial inclusion while minimizing bad debt.
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in the field of credit risk management. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
Nairobi, Kenya – Monday, 5th August, 2024 – A new study has revealed a complex picture of Kenya’s credit market, with digital loans dominating the landscape while the overall value of loans disbursed is on the decline. The study conducted by Financial Sector Deepening (FSD) Kenya, Credit Information Sharing Association of Kenya (CIS Kenya), and Creditinfo Credit Reference Bureau Kenya Limited (Creditinfo CRB), provides a comprehensive analysis of credit data spanning five years.
The study is titled Kenya’screditmarketlandscape–Demandsideanalysisofcreditrecordsheld by Creditinfo CRB, is based on an analysis of credit records held by Creditinfo CRB.
The use of Credit Reference Bureau data in this study provides an opportunity to analyse credit data that is aggregated from various sources and segmented according to borrower’s sex, type of loan (digital and non-digital), type of borrower (company and individual), and provider type (bank, MFB, and MFI). The data covers the 5-year period from January 2019 to December 2023.
Summary findings
Kenya’s credit market is dominated by digital loans (in volume terms) provided by banks mostly to male Banks continue to dominate the retail lending market, accounting for over 90% of the volume and value of digital and non-digital loans.
Thenumberofuniqueborrowershasbeenonasteadyincrease on an annual basis, with
7.5 million unique borrowers in 2019 compared to 11.4 million unique borrowers in 2023. This constitutes both individual and non-individual borrowers (companies). On average, there are 6m unique male borrowers and 4.3m female borrowers each year.
In contrast to the increase of unique borrowers, the aggregate value of loans disbursed annually has been on a decline, with KShs 2,067bn issued in 2019 compared to KShs 1,937bn in Male borrowers accounted for 61.4% of the total number of loans and 71.1% of the total value of loans issued between 2019 to 2023.
On average, there are 10 million unique borrowers who have at least one digital loan annually compared to 1 million for non-digital loans. Approximately 270 million new digital loans valued at KShs 1,512 billion were issued over the five-year period compared to 8 million non-digital loans valued at KShs 8,282 billion over the same period. There is, however, an observed decline in the average value of nondigital loans, from an average of KShs 8,353 in 2019 to an average of KShs 4,555 in 2023, a 45% decline.
The number of new negative listings declined by more than half between 2019 and 2023. Whilst this can be attributed to changes in the regulatory framework on the treatment of negative listings, there is a marked decline between 2019 and 2020 which was beforethe regulatory changes. In 2023, 933,551 individual borrowers were negatively listed with Creditinfo CRB compared to 2,204,591 individuals in 2019.
Female borrowers have better repayment histories compared to men, accounting for an approximately of 36% of the new negative listings over five-year period, compared to 64% for
Most borrowers who have a negative record have an outstanding loan balance of between KShs 1,001 to KShs 5,000. The data further indicates that a higher proportion of borrowers initially listed as having repayment difficulties with their loans (negative record) managed to fully repay them off after seven months and within one
69% of borrowers that previously had a negative record were subsequently issued with a new This is contrary to the public’s perception that the CIS mechanism is a blacklisting tool and that a negative listing automatically precludes a borrower from accessing future loans.
“The development of Kenya’s credit market is at the core of FSD Kenya’s work and strategy. While many of the building blocks that underpin an efficient and effective retail market are in place, available evidence points that the provision of appropriate and affordable credit remains a challenge. MSMEs and women continue to be underserved. FSD Kenya’s work in credit market is aimed at working with various partners to address the factors that constrain the flow of productive credit to where it is needed the most. Part of this includes creating the knowledge and evidence base through research and analysis to inform the direction of market development and policy interventions. This study is part of those efforts. The expectation is that the study will provide the basis for engagement with various stakeholders on the development of Kenya’s credit market, long-term policy implications, and the functioning of Kenya’s Credit Information Sharing mechanism.”, said Francis Gwer, FSD Kenya’s Senior policy specialist.
“The Credit Information Sharing (CIS) mechanism has significantly advanced since its inception in Kenya. The transition from negative-only reporting to the bureau to comprehensive full-file reporting to the bureau marked a pivotal moment, fostering innovation and financial inclusion. Data gathered throughout this evolution has proven invaluable for market growth and innovation. Further advancements, such as incorporating all credit sectors and enabling real- time reporting, have the potential to elevate the CIS mechanism to new heights.”, said Kamau Kunyiha, Regional Manager, Creditinfo CRB
AboutFSDKenya
Financial Sector Deepening Kenya (FSD Kenya) is an independent trust dedicated to the achievement of a financial system that delivers value for a green and inclusive digital economy while improving financial health and capability for women and micro and small enterprises (MSEs). We work closely with the public sector, the financial services industry, and other partners to develop financial solutions that better address the real-world challenges that low-income households, micro and small enterprises, and underserved groups such as women and youth face. More details about FSD Kenya.
About CIS Kenya
The Credit Information Sharing Association of Kenya (CIS Kenya) was set up to institutionalize the National Credit Information Sharing (CIS) Forum. The Forum was created in early 2012 in order to bring together both bank and non-bank credit providers to map the way forward towards implementing full file comprehensive CIS in Kenya. Prior to the formation of CIS Kenya, the implementation of CIS in Kenya was spearheaded by the Kenya Credit Information Sharing Initiative (KCISI), a partnership between Central Bank of Kenya (CBK) and Kenya Bankers Association (KBA). More details about CIS Kenya.
About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals. More details about Creditinfo CRB.
CheckYourTraders and Creditinfo Malta have joined forces to offer a comprehensive solution tailored specifically for tradespeople. Aims to provide a tailored solution to the common problem of debt recovery.
In a bid to address a pressing issue faced by many tradespeople, CheckYourTraders is thrilled to announce its exclusive partnership with Creditinfo Malta. This collaboration aims to provide a tailored solution to the common problem of debt recovery, particularly prevalent among small businesses in the trades sector, while also addressing issues related to cash flow management.
One of the major hurdles encountered by tradespeople, especially those running small businesses, is the challenge of recovering outstanding debts from clients or suppliers. Late payments and non-payment can significantly impact their cash flow, making it difficult to cover operating expenses or invest in business growth. Pursuing legal action for debt recovery can be time-consuming and costly, especially for businesses with limited resources and expertise in this area.
To alleviate these challenges, CheckYourTraders and Creditinfo Malta have joined forces to offer a comprehensive solution tailored specifically for tradespeople. As part of this collaboration, members will receive a complimentary job book from CheckYourTraders, serving as a crucial tool for documenting transactions and maintaining organised records. This will not only help tradespeople stay organised with their receipts but also provide them with a clear overview of their financial transactions, enhancing transparency and accountability in their business operations.
Moreover, tradespeople now have the opportunity to leverage CheckYourTraders’ expertise in debt collection through Creditinfo Malta’s services. With a dedicated team representing them in debt recovery matters, tradespeople can focus on their core business activities without the added burden of chasing overdue payments. This not only streamlines the debt recovery process but also increases the likelihood of successful outcomes, ensuring a more efficient and hassle-free experience for tradespeople.
By addressing the challenges of debt recovery and cash flow management, the collaboration between CheckYourTraders and Creditinfo Malta offers a valuable resource for tradespeople seeking to navigate financial hurdles more effectively. With a focus on organisational efficiency and expert representation in debt collection, this partnership empowers tradespeople to overcome obstacles and achieve greater financial stability in their business endeavours.
In 2020 Creditinfo Group decided to be part of the Open Banking initiative by starting to investigate the options of using customers’ bank account statements in their offering. The account information service is based on the PSD2 directive. For known reasons, it is not possible and acceptable to have access to customer bank account data without consent.
Creditinfo have tackled the opportunity in two different ways. In the Baltics and Iceland, the chosen route was to apply for an FSA licence to offer end-to-end customer account statements transfer from their home bank to a third party, from whom the customer applies for credit , e.g. car loan. In the Czech Republic and Slovakia namely due to the long and cost-intensive process of “passporting” CI’s Estonian license, the chosen route was collaboration with a local technical partner called Sokordia Tech.
A little bit more about above-mentioned two ways to offer Open Banking solutions in Creditinfo Group.
In 2021 Spring, Creditinfo Estonia received permission from the Financial Supervision Authority to start offering account information services in Estonia, which later in Autumn expanded to the markets of Latvia and Lithuania. Today, Creditinfo has been offering the account information service in the Baltic market for almost three years. Creditinfo have real-time access to the transaction data of customers of banks and financial institutions using a secure data transmission channel and customer consent.
In Spring 2024, Creditinfo Estonia finalised the Iceland licence application process from Estonian FSA and can officially offer account information service in Iceland.
Beside regulative and compliance part, Creditinfo also has full technical integration and capability in developing categorization when offering account informatoin service. With opportunity to access customers bank account data, the aim is to offer more transparent credit risk evaluation to customers and third parties, who find high value from the knowledge of their customers account information to make data-driven, intelligent credit and business decisions.
As mentioned above, Creditinfo also have Open Banking cooperation and partnership in the Czech Republic and Slovakia with fintech company Sokordia Tech, teaming up to capitalize on Creditinfo’s market position whilst leveraging Sokordia Tech’s AISP and PISP licenses and Open Banking services platform to provide PSD2/Open Banking services to several financial services clients in the market.
In the Czech Republic and Slovakia market, Creditinfo currently has 5 customers utilizing the Open Banking platform, processing more than 1.2 million open banking transactions per month. Depending on the specific requirements, pain points, and use case of the Client, Creditinfo has developed a “Categorization In-a-Box” , Multi-Service platform called Transaction Analysis Service replete with 40,000 pre-installed business rules that can sit atop and work with any Open Banking Open APIs in any country. The service is comprised of 6 unique methods/services (AIS+CIS+PIS) & PDF tools via one API as detailed below:
PSD2parser: extracting raw data from PSD2 bank statements
PSD2tags: tag each bank transaction with one to N identifying tags
PDFparser: Extracting raw data from PDF bank statements
PDFtags: Tag each bank transaction with one to N identification tags
1UnitPay: Verification PSD2 payment (the advantage is that the payment is made in one step with statement extraction)
Bank Account Views: Repeated viewing of bank accounts without the need for customer re-authentication
Together with our partner Sokordia Tech, we currently have Open Banking APIs and are able to provide all these services under one single API for the following countries: Czech Republic, Slovakia, Hungary, Romania, and Poland.
Development work on the 3rd generation of the Transaction Analysis Service is currently in development, highlighted by:
Deeper AI involvement in processes & rules & analysis
Expansion of new online data inputs into transactional analytics
Multi-language analytical tools
GUI for clients to manage and report transactional analytics themselves
Seasoned commercial leader, John Cannon, looks to use wealth of financial and executive leadership experience in new role to unlock new value for customers and drive Creditinfo’s international growth
London – 18 April 2024: Creditinfo, a global service provider for credit information and risk management solutions, has today announced the appointment of John Cannon as its Global Chief Commercial Officer (CCO). With over 25 years of experience in finance and credit bureaus, John will spearhead the strategy and execution behind Creditinfo’s solutions and products for all 30 of its credit bureaus, which are spread across 50 different countries.
John brings almost three decades of experience in leading top-performing teams, delivering pioneering solutions, and galvanising high-value market leading companies within the global financial community. A reputable industry expert, John led Transunion’s GFS business for international regions and has spent the last couple of years as an advisor to Private Equity firms in addition to helping scale early stage technology companies, most recently Xapien.
As CCO of Creditinfo, John will draw on his extensive sector knowledge and experience to leverage Creditinfo’s technology and data to push innovation forward and ensure it meets customer expectations and needs. He will play a key part in promoting financial inclusion globally and in doing so bolster Creditinfo’s international growth. In his new role, John will also be responsible for delivering the right products and services to Creditinfo’s customers to maximise value, as well as identifying new business opportunities.
John Cannon, newly appointed Global Chief Commercial Officer at Creditinfo said: “I’m delighted to join Creditinfo, a company that is committed to enriching people’s lives through unlocking access to financial inclusion. This, and its international culture, is what drew me to the company. I look forward to working with the remarkable Creditinfo team to support the next phase of its growth journey.”
Satrajit Saha, Global CEO at Creditinfo said: “With firm roots in the global financial industry and a strong track record as a senior executive leader, John is an excellent addition to our senior leadership team. As we look to expand our global footprint and facilitate access to finance for millions of consumers and businesses worldwide, having John on board is a huge advantage, not only for our own innovation and growth but also for our customers as they turn to us to provide worldclass and transformative solutions and products.”
John will report directly to Satrajit Saha, Creditinfo’s Global CEO.
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About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
Guðni Th. Jóhannesson, the President of Iceland, recently completed an official visit to Georgia, where he visited, among other things, the office of Creditinfo in Georgia.
The visit was intended to strengthen the relationship between Iceland and Georgia, among other things through increased cooperation in the field of climate issues and green solutions. The president was accompanied by Guðlaugur Þór Þórðarson, Minister of Environment, Energy and Climate, Nótt Thorberg, director of Grænvang, and a delegation of representatives from the business community, among whom was Hrefna Ösp Sigfinnsdóttir, managing director of Creditinfo in Iceland.
During the visit, Alexander Gomiashvili, Managing Director of Creditinfo in Georgia, welcomed the group and talked about Creditinfo’s activities in Georgia together with Hrefna Ösp, who educated those present about Creditinfo’s activities internationally.
Creditinfo Group has operations in over 30 countries around the world and over 400 employees.
Guðni Th. Jóhannesson, President of Iceland together with Alexander Gomiashvili, Managing Director of Creditinfo in GeorgiaAlexander Gomiashvili, Managing Director of Creditinfo in Georgia addresses the delegation of the President of Iceland.
