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IEF2019 Infocredit


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IEF2019 Business Pitch

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IEF2019 Infocredit

  1. 1. s e c u r i n g e a s e o f m i n d Infocredit Group Business Pitch IEF 2019 A p r i l 2 0 1 9
  2. 2. Agenda Company Profile Strategic Partners Achievements & Compliance Clients Infocredit Group Services Business Pitch
  3. 3. Company Profile Infocredit Group is one of the leading international providers of information specialising in risk management, compliance and corporate governance.  Established in 1972 as MECOS LTD (Middle East Commercial Services)  Became Infocredit Group Ltd in 2007  Number of Employees: 60  Offices: Cyprus, U.A.E. , Branches: Malta, Greece, Romania Memberships
  4. 4. Strategic Partners Leading provider of data, advanced analytics & technology solutions which holds one of the largest databases offering KYC and risk management services worldwide. The largest provider of online solutions for compliance trainings and risk management solutions. Offers tailored solutions for automated ID documents authentication. A provider of specialised solutions for analysis of financial and other business information worldwide. An independent corporate body representing the Cypriot business community and functioning under special law. The Institute of Chartered Secretaries and Administrators (ICSA) is the professional qualifying body required by Royal Charter to lead effective governance.
  5. 5.  Inc. magazine ranked Infocredit Group Ltd No. 4931 on the 2018 Inc. 5000 List of fastest growing private companies in Europe  Received an IN Business Award 2016 in the category of Small and Medium-Sized Enterprises (SME)  Certified with:  ISO/IEC 27001:2013 for Information Security Management Systems  ISO 9001:2015 for Quality Management Systems  ISO 22301:2012 for Business Continuity Management Systems  PCI DSS by VISA Europe  Member of UN Global Compact and follows the network’s fundamental guidelines with respect to Human Rights, Labour, Environment and Anti-Corruption Achievements & Compliance
  6. 6. Clients Municipalities and Other Government Organisations Commercial Banks/Financial Institutions Insurance Companies Law Firms
  7. 7. Clients Telecoms Forex Companies Trading Companies Audit Firms
  8. 8. Infocredit Group Services Professional Training Credit Risk Solutions Regulatory Compliance Debt Recovery & Call Centre Corporate Governance Consulting
  9. 9. The creation of a sound credit rating model for Cypriot companies Business Pitch Goal The creation of a sound credit rating model for Cypriot companies
  10. 10. Infocredit Group online credit scoring model characteristics  allows you to assess the transactional behaviour of prospective business associates and evaluate their ability to honour their financial obligations  performs a credit risk analysis which reflects the historical transactional behaviour of companies based on existing detrimental information listed in the Infocredit Group databases  is presented as a rating scale of 1-10 (1=low risk and 10=high risk), based on credit quality  takes into account the following:  Industry benchmarking  Evaluation of related entities  Structural and financial data  Trade references/reputation assessment Business Pitch Current online scoring model
  11. 11.  Unavailability of financial data – There is a big delay in the submission of financial accounts by Cypriot companies to the Department of the Registrar of Companies and Official Receiver. Business Pitch Challenges faced Out of the 3878 companies that had submitted accounts, only 1214 companies submitted accounts for the years 2016 onwards Note: The above statistics were taken from periodic checks done by Infocredit Group in the past 2 years. Out of the 5543 companies investigated in the official archive only 3878 had ever submitted financial statements
  12. 12. Business Pitch Infocredit Group data Number of financial statements in Infocredit Group database
  13. 13. Business Pitch Conclusion We seek the help of the research community of the University of Cyprus in order to analyse the current data we have and analyse other European countries’ data that the University may have access to in order to come up with an updated credit rating model for Cypriot companies.
  14. 14. Thank you Headquarters: Philippou Hadjigeorgiou 5A, Acropolis Nicosia 2006, CYPRUS Middle East Regional Office: 104 Jumeirah Bay Tower X3 Cluster X, JLT-PH2-X3A Jumeirah Lakes Towers, Dubai, UAE Tel: (+357) 22 398000 Fax: (+357) 22 458937 Email: Visit: Find us on: Contact Us