Creditinfo Group

🤝 We wish to warmly welcome our new incoming Group CEO Satrajit Saha. With over 20 years of experience in banking and credit bureaus in Africa, Europe and Asia, Satrajit will drive the growth of Creditinfo and the maturity of its credit bureaus globally. He joins the company from TransUnion Europe, where he has been CEO for the last five years. He commences his new role on 1st January 2024. 👉 Read more: https://ow.ly/l9CO50Qcm6u

🇱🇹 A study by Creditinfo Lietuva shows that 19% of construction companies in Lithuania are at the forefront of bankruptcy, 31% are at risk of late payment, and the amount of asset seizures amounts to almost $110 million Euros. 🚧 There are 19,850 construction companies registered in Lithuania, employing almost 110,000 people in total. In 2023, employees in this sector generated 14.7% of the country's GDP in Lithuania. In 2023, construction companies in Lithuania received more than EUR 10.6 billion an increase to 22.6% from 2022. 👉 Read more: https://lnkd.in/dXCxAuVq

💡 New rules finalized by the Consumer Financial Protection Bureau (CFPB) will require banks to simplify how customers transfer their data from one bank to another without losing their transaction and bill history: https://lnkd.in/gwdXCv-M

#CreditinfoFinancialTips 🕵️♀️ How do you protect yourself from being financially scammed? ✔️ Check your credit report often to make sure your information is up to date, ✔️Monitor your credit. You can sign up for monitoring services such as #MyCreditinfo, which immediately alerts you to any activity relating to your credit history and accounts, ✔️Monitor your online or mobile banking accounts daily to ensure that there are no unauthorized charges and to help you catch fraudulent charges quickly. Learn more: https://lnkd.in/dMfui232

💡 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. Learn more and get in touch with us for more information. Comment below of send us a private message: https://lnkd.in/dHUEUGPv #OpenBanking #PSD2 Ivo Vallau Seth H. Marks, BA, MBA

The Dutch central bank has warned that a quarter of all cyber attacks worldwide are targeting financial institutions and this means “in extreme cases” people would be unable to access their money. Cyber attacks are carried out not only by criminal hacker groups, but also by other countries, the bank said, in its latest report on the financial stability of the Dutch economy. “The cyber landscape is becoming increasingly complex, due in part to the rise of artificial intelligence,” the bank said. “AI offers opportunities, for example in the fight against cyber attacks, but at the same time hackers are also using AI to carry out more frequent and sophisticated attacks.” Read more: https://lnkd.in/gQfGwi_C

🌳 Our Director of Sustainability Reynir Smári Atlason had the pleasure of being interviewed by the Financial Times Adviser where he stated that the industry should understand that greenwashing is only the starting point in the broader conversation around sustainable investments. He also added that since investors increasingly want to understand the tangible social and environmental impacts of their investments, alongside their financial returns, access to credible data is key. 👉 Read more on this through this link: https://lnkd.in/dEnRExfc #ESG #Sustainability

🌟 We're back with another #CoverageFriday! 🎤 This week, the FT Adviser's Q&A In Focus features Reynir Smári Atlason, head of sustainability at Creditinfo Group. 📈 Reynir discusses values-based investing and how investors increasingly want to understand their investments' social and environmental impacts. 👇 Find the link to the full article in the comments. #fintech #sustainableinvesting #ESG

#CreditinfoFinancialTips 🤝 How can help you stay on track with any changes in your credit profile? Follow this link to learn more: https://lnkd.in/dMfui232

👉 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?  ✍️ Find out more from the article written by Francis Shikuku, Finance department, Creditinfo Kenya Ltd : https://lnkd.in/d7bUMa3r