The Fitch Rating for CRIBIS Credit Management, the CRIF Group company specializing in the outsourced management of collection and NPL management processes, has once again been confirmed for 2019 for its Special Servicer activities in relation to NPL management.
CRIF High Mark Credit Information Services Ltd, a leading Credit Information Company in India, unveiled its new and enhanced version of Commercial Credit Information Platform. The new platform enables the institutional users with unified access to verify the borrower and check the credit information of business entity and its promoters, thus saving time and effort for the users.
CRIF AG has looked at how many new businesses were established in the first quarter of 2019 and how many companies went out of business. All in all, 11,126 companies were set up in Switzerland during this time. This represents a fall of 0.9% compared with the second quarter of 2018. 7,612 companies were deleted from the Commercial Register during the same period. This is 1.2% more than in the same period of the previous year.
The ‘FINTECH@speed: the Winning Growth engine’ conference, organized by CRIF and held in Rome on Friday July 5, was an opportunity to share experiences and insights on the development of the competitive context and on the outlook for the banking and financial industry in view of the significant impacts from new paradigms linked to open banking on the one hand, and from the increasingly important central role played by the end consumer on the other, facilitated in part by process digitalization, which improves involvement and the user experience.
Starting from 2021, financial institutions (December 2020 for those directly supervised by the Bank of Italy) will be obliged to apply the guidelines on the application of the definition of default developed by the EBA (European Banking Authority), within the context of the convergence of supervisory standards that has long been committed to by EU institutions. It is an extensive topic still with some margins for uncertainty in its interpretation, and intended to interact with the guidelines on risk parameters.
CRIF carried out the Fortune 500 Turkey ranking project for the twelfth year in a row. The list contains the top 500 companies in Turkey ranked according to their turnover in 2018 and was announced in the July issue of the Fortune Turkey magazine following a press conference in İstanbul.