Posted on April 13, 2023 by phidi

Webinar: Baltic Market Overview

Register and join Jekaterina Rojaka, COO Creditinfo Lietuva , as she hosts another session on the Baltic market overview.

During this session, you will get the latest updates on the following:

  1. Improving sentiments – will it strengthen economic growth?
  2. Rising interest rates – what is the impact on the market?
  3. Sectoral perspective – losers and winners

Please complete the registration form below to receive the event link. The session will be in English – http://ow.ly/MSjh50NHVVX

Posted on March 13, 2023 by phidi

Kredītinformācijas Birojs and Citadel Bank Sign an Agreement to make It easier for Ukrainian citizens to receive Financial Services

Kredītinformācijas Birojs (KIB) has concluded an agreement with Citadel Bank on using credit history data of Ukrainian nationals to evaluate the possibility of granting loans. The service will allow bank employees to verify personal identification data and residential address before opening an account for Ukrainian citizens, as well as check the customer’s credit history and information on existing credit obligations in Ukraine, evaluating the granting of a loan.
 
“The information provided by us is valuable for any Latvian company that enters into a contract with Ukrainian nationals to more objectively evaluate the client’s ability to fulfill their financial obligations in the future. We are happy that “Citadele” has become the first Latvian bank to which such data will be available in the future,” says Intars Miķelsons, a member of the board of AS “Kredītinformations Birojs.”
 
The database contains information on 15 million private individuals and 54 million unique credit agreements – both those where payments are made according to the schedule and those where the borrower delays payments. The data providers comprise 20 of the largest Ukrainian banks and non-bank lenders. The credit history report also contains the person’s tax identity number, declared place of residence in Ukraine, and registered contact numbers in Ukraine.
 
When starting cooperation with each client, the bank observes the principles of “know your client,” i.e., learns all the necessary information about the potential client, for example, the origin of funds entering the client’s account. The bank also checks the client’s credit history and information on existing obligations if the client has applied for a loan. The information obtained from KIB about the obligations of Ukrainian citizens will benefit the bank. “We are already providing Ukrainian citizens with the opportunity to open a bank account remotely and receive various financial services, such as loans for various purposes. The new information base will speed up these processes,” says Jānis Mūrnieks, Head of Citadele’s Private Person Service Directorate.
 
For the Latvian company to obtain data, it must conclude a contract with KIB. In contrast, before requesting the data, the Ukrainian citizen must permit using his data by signing the consent.  
 
Like residents of Latvia, citizens of Ukraine can check their credit history free of charge at the Credit Information Bureau (Grēdu Street 4a, Riga). To receive information, a citizen of Ukraine needs a valid foreign passport issued by Ukrainian state authorities.

It has already been reported that last year the “Credit Information Bureau” of Latvia (KIB) concluded an agreement with the “International Credit Information Bureau” in Ukraine ( Мидрождение бюро кредитних історий ) on the exchange of credit history data of Ukrainian nationals.

Posted on March 25, 2021 by phidi

Creditinfo Group becomes majority shareholder of Kredītinformācijas Birojs (KIB)

LONDON, UK, March 25th, 2021 – Today, Creditinfo Group – the leading global credit information and decision analytics provider – announced that is has increased its stake in JSC “Kredītinformācijas Birojs” (KIB) to 51%, becoming the majority shareholder.  

Earlier this month, the US private equity fund Levine Leichtman Capital Partners (LLCP) became the majority shareholder of Creditinfo Group. As the result of that transaction, the share capital of the KIB joint stock company was increased, with ABLV Bank selling its shares.

The other shareholders of the company, including the leading Latvian commercial banks; AS Swedbank, AS SEB banka, AS Luminor Bank, and AS Citadele banka will remain unchanged and will continue to support KIB by serving on the Supervisory Board of the joint stock company.

Jānis Timmermanis, Chairman of the Board of KIB: “This investment is an important confirmation of the company’s potential to continue to grow despite being a relatively young entity and offer lenders throughout the Baltic region modern solutions with scoring and decision capabilities while also enabling prevention of money laundering.”

Brynja Baldursdóttir, Director of Global Markets Creditinfo Nordics: “This announcement marks a significant milestone for Creditinfo and consolidates our presence in the Baltics as a leader in providing Decision-as-a-service solutions – a key component of the Credit Bureau system. With international knowledge and local market support, Creditinfo solutions are setting a high bar wherever they are implemented.”

KIB was founded in May 2013 and is the first licensed credit information bureau in Latvia. KIB helps banks and financial institutions to manage credit risk and apply best practices in risk management and credit operations. Its activities in the field of data processing are licensed and supervised by the State Data Inspectorate.

Ends.

 

About Creditinfo

Founded in 1997 and headquartered in Reykjavik, Iceland, Creditinfo is a global provider of credit information and risk management solutions. As one of the fastest growing companies in its field, Creditinfo facilitates access to finance through intelligent information, software and analysis solutions.

With more than 33 credit bureaus today, Creditinfo has the largest presence in credit risk management worldwide, with significantly greater influence than competitors. For decades, it has provided business information, risk management and credit bureau solutions to major lenders, governments and central banks around the world to increase financial inclusion and create economic growth by giving SMEs and individuals access to credit.

Media Contact:

Matt Silver

Babel Agency for Creditinfo Group creditinfo@babelpr.com

+44 (0)7769 266 452

Posted on July 9, 2020 by phidi

Kredītinformācijas Birojs – KIB (Credit Information Bureau) unveils new scorecard for consumers

After intense work that lasted the past several months, Kredītinformācijas Birojs finally introduced a new statistical model that forecasts the borrower’s credit risk, last month. The new credit rating predicts the probability that a borrower will default on their credit obligations for more than 60 days in the next 12 months, with the amount of obligation being at least EUR 150.

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