Central Credit Register and oplon Risk Platform: the tools to evaluate companies’ creditworthiness
A credit bureau is an insitutiton that collects credit information from lenders and other relevant sources on a borrower’s credit history and provides that information upon request to prospective lenders. Information acquired from a credit bureau allows a lender to better assess the credit worthiness of a borrower.
In Italy, in addition to the local credit bureaus, the same service is provided by the Central Credit Register (Centrale Rischi in Italian), a free information system supervised by the Bank of Italy.The Central Credit Register collects information on the loans (> 30.000 €) financial institutions grant to their customers.
Individuals’ and companies’ credit data are gathered together in form of credit report and conveyed to those who have notified an exposure towards that client. Only financial institutions and the client itself may access the information reported on its behalf.To be more specific, while natural and legal person can access their entire credit history, banks and other financial institutions can only access credit data from the last 36 months concerning current clients or potential ones.
Along with the analysis of financial statements, credit reports of the Central Credit Register are used by Rating Agencies, banks, and lending companies to assess a company’s creditworthiness. oplon, modefinance’s Augmented Analytics risk management platform, digitalizes and simplifies the evaluation of the data recorded in the Central Credit Register and provides a powerful array of analysis tools that help users prevent the counterparty insolvency risk.
The credit report analysis provides qualitative information on the companies’ reliability and is part of oplon’s automatic rating process.