- by E on 04/11/2022
Assessing sole traders and new small businesses is an age old issue.
For years, this has resulted in companies having to write-off bad debts, from not having an easy way to assess and monitor a sole trader's ability to repay.
Our latest feature Link2Bank will aid companies in tackling this issue which is predicted to intensify as the economy tightens in the months ahead.
Link2Bank lets you request a report on a customer's bank account data, to make real-time live assessments of their incomings and outgoings.
Link2Bank is fully compliant with GDPR regulations. Once the sole trader has given consent, Link2Bank will deliver an online verification of bank account ownership, along with in-depth reporting on their ability to repay.
The above data is analysed in seconds and a comprehensive credit score on the customer is returned to allow for faster evaluation.
CRIF are now connected to over 3,000 banks globally and have completed over 1 million open banking credit scores in the last 12 months.
Assessing a sole trader's affordability has never been easier. There are over 2000 variables tested to produce a single a score with CRIF's latest new feature. Link2Bank produces a comprehensive report on the customer's incomings and outgoings, risk classification, categorisation of spending and their credit score.
If you would like to learn more, contact us on 01 903 2660 or email us at solutions@crif.com.
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