CRIF boosts its innovative power: Acquisition of CreditTrust, the digital alternative for debt enforcement information

CRIF, Switzerland’s leading credit reference agency, is taking over CreditTrust, the digital alternative for traditional debt enforcement information. CreditTrust allows individuals or businesses in Switzerland to obtain fast, fully digital, forgery-proof evidence of creditworthiness in real time and is specifically directed towards the requirements of the real estate industry.

The project was originally initiated by CRIF in conjunction with Intrum and Certifaction. As a result of the acquisition by CRIF, this solution will now undergo further strategic development and will be integrated into the existing portfolio.

Why do we need an alternative solution for debt enforcement information?

The value of traditional debt enforcement information is limited because all the debt collection registers are kept locally. Any historical information is lost whenever a person relocates, which makes it particularly difficult for landlords to assess whether tenants are reliable payers.

Prospective tenants also often find it difficult to obtain this information. Long waiting times and limited office opening hours slow down the application process.

CreditTrust provides digital assistance for prospective tenants and landlords

Prospective tenants can obtain a digital certificate of creditworthiness within three minutes, 24/7. This certificate is valid anywhere in Switzerland and can be used immediately to apply for an apartment. Over 500 real estate businesses are already taking advantage of a significantly broader and more reliable database.

Information from Switzerland’s two largest credit reference databases, run by CRIF and Intrum, is used to support the certificate. It also covers previous residential addresses and detects minor payment difficulties that would not yet be shown in a debt enforcement report.

This provides greater security and transparency for landlords, enabling them to make faster, better-informed decisions.

CRIF focuses on innovation

The integration of CreditTrust into the CRIF portfolio will allow further development of the solution and open it up to additional areas of application. Intrum will continue to act as a key supplier of data and information to CreditTrust, even after this acquisition.