Credit Bureau – our product with no analogue in Lithuania, which is currently under development. The product contributes to the implementation of Creditinfo Lietuva vision: consolidation and administration of information and introduction of decision support systems:
- Consolidation and administration of information. Credit bureau links information, which is provided by Lithuanian banks, leasing companies and other system participants on their clients with their consent. This information is consolidated with the Creditinfo Lietuva database and presented to the users in the form of credit reports. We strictly follow the EU directives on protection of person’s rights to privacy, therefore our credit bureau model when developed will ensure transparent and secure accumulation and use of data with maximum benefit and no violation of person’s rights;
- Decisions support systems. Credit bureau makes credit application screening more expeditious and allows more efficient decision making by transition from manual work procedures to partly or fully automated screening of credit application. Flexible and modern IT tools enables setting up the packages of evaluation criteria in the rating procedures. Credit bureau project is being structured on the basis of analogous project, which is already in place in Iceland.
Features of Credit bureau:
- Users – credit institutions (banks, leasing, telecommunications, insurance institutions and other companies). Credit bureau users having credible and extensive information will be able to take better founded crediting decisions and to step in the new segments, which earlier were treated as dangerous.
- Speed. Maximally reduced time resources, which were necessary to evaluate solvency and credibility of the user. Decisions are supported with qualitative and extensive information from a single database. Automated decision support systems allow automated data rating and in a single report presentation of all necessary information for decision;
- Costs. Automated administration of database, which links information of different data sources, and automated decision systems result in decrease of manual work and reduction of products selling costs;
- Quality. Credit bureau is being built on the basis on know-how and IT, created for analogical project, which has been successfully introduced and being applied in everyday work of Icelandic banks and leasing companies;
- Comfort. Connection to the Debt management system takes place through the internet or server, system control is easily mastered by company’s credit managers. Secure and fast data flow between the units of organization eases the work of all management process participant.
For more information on crediting decisions support systems please contact general manager Mr. Andrius Bogdanovičius, tel. +370 611 38379, e-mail info@creditinfo.lt.