Athens, November 7, 2019
CRIF speaks at the 12th annual Credit Risk Management Conference
CRIF was one of the speakers at the 12th annual Credit Risk Management Conference, the premier event in Greece organized by ICAP on November 7, 2019 and dedicated to the crucial subject of managing credit risk.
The conference aimed to inform participants about all the changes and developments in the field of Credit Risk that are having an immediate effect on companies. Best practices for managing the credit profile of a company were presented, in addition to information and discussions on the Greek and European economy and an overview of the trends in using data to support quick and informed business decisions.
Giorgio Costantino, Executive Director of Global and EMEA Transformation Services, gave a speech about the SME and Corporate Lending evolution, sharing with the participants the main market trends, Value Added Services (VAS), and real cases.
“Banking is experiencing significant developments based on digital services and PSD2, with Access to Accounts creating a new type of ecosystem. Corporate and SMEs should leverage this new ecosystem to finance innovation and growth”, said Costantino.
The opportunities for SMEs deriving from the new financial ecosystem include the ability to:
- Leverage data enrichment to create an all-round customer view, accessing previously unavailable data and with much greater insight
- Boost interactions with financial services, leveraging the API as a channel (distributing underlying services), as a product (provided to an ecosystem), and as data (providing insights)
- Leverage the Platform as a Service for SMEs (service provider to anticipate customer needs) and large corporations (amplifying the power of distribution)
- Create a revenue-sharing ecosystem, based on the typical advantages of profitable customer relationship management.
“CRIF has real solutions to respond to the main SMEs and corporate business issues such as tailoring credit products, growth and innovation, and improving efficiency. In particular, CRIF has developed: advanced analytics to find the best financial products and support the growth and innovation; several VAS to improve credit governance, working capital and cyber risk management. Moreover, all services could be provided from banks and third parties within the ecosystem”, concluded Costantino.