The dawn of a new decade sees Creditsafe take yet another step forward as it opens its brand new office in Toronto as part of a strategic alliance with Equifax Canada bringing new levels of international business intelligence to that market. Through the partnership Equifax Canada customers will be able to benefit from access to Creditsafe’s global coverage of over 330 million instant access business reports across 160 countries.
Commenting on the opening Creditsafe CEO Cato Syversen said: “We are delighted to be opening our 24th office around the world and are thrilled to be able to work with a like-minded business intelligence provider such as Equifax in Canada. Since Creditsafe was established in 1997 we have developed a culture of sharing data and expertise with organisations that share our mission for making business intelligence available and affordable to all.”
The new partnership is a ringing endorsement of the strides made by Creditsafe in the last 23 years on its journey from a disruptive startup in the staid Norwegian credit information market to the confident global player it is today. Creditsafe now has operations in countries all over the world including the UK, Germany, France, Sweden, Ireland, Italy, Belgium, the Netherlands, Japan and the United States, it employs over 1,300 people and in 2019 alone delivered over 220 million reports to more than 500,000 users in 115,000 subscription customers globally. Remaining one of the fastest growing business intelligence providers of its size the last year has seen Creditsafe revenues expand by another 15%.
As Creditsafe has grown it has cemented its position as the leading provider of international solutions enabling customers to gain a clear picture of global linkages and cross-border hierarchies and to understand potential exposure across a group and around the world. By enabling the identification of true ultimate beneficial owners Creditsafe’s solutions deliver reassurance when complying with KYC on-boarding and remediation as well as know your vendor (KYV) and know your third party (KYTP) disclosure obligations while facilitating compliance with AML/CTF regulations, as well as tax compliance laws and standards, such as FATCA and CRS across all industries.
Even in the face of continued uncertainty and concerns, from the post-Brexit trading environment to the US-China trade war, global trade continues to rise and remains key to business growth in most developed countries. Holding one of the world’s largest owned databases of comprehensive business information has allowed Creditsafe to become a major player in supporting risk mitigation for hundreds of thousands of business professionals around the world and shows why organisations like Equifax Canada are partnering with Creditsafe to deliver better international solutions.
Along with the development of its unique international footprint Creditsafe has seen customers’ needs change since its early fledgling steps back in the late 1990s and 2020 is set to be a defining year for Creditsafe as it continues to strengthen its services and infrastructure from the ground up. While customers in the small and mid-market sectors still benefit from easy to use intuitive solutions increasingly sophisticated users are looking for even greater levels of complexity and significant levels of data integration.
Focusing on the architecture of its service platforms Creditsafe is investing its technology resources into improving its websites, and integrations to deliver products that are stable, joined up and integrated to provide solutions that cut through the inefficient processes around financial risk, compliance risk and customer growth.
Of course, robust dependable and continually updated risk analytics and scorecards remain at the heart of Creditsafe’s offering enabling all their global data to be put to practical use and with four new scoring solutions introduced in 2018 and 2019 across the Netherlands, Germany, Sweden and the United Kingdom, confidently calculating the probability of business failure at the highest level of accuracy yet, other new scoring, risk and compliance platforms are due to be launched during 2020.
Looking ahead CEO Cato Syversen summed up Creditsafe’s exciting future saying: “We are genuinely thrilled to be in a position to make the investment needed to deliver truly world-class integrated data driven solutions that will help companies of all sizes around the world grow and prosper in these challenging times. We have learnt a lot on our journey so far and are putting that knowledge to great use moving forward. I have great confidence in the whole team at Creditsafe and it is especially satisfying to see that confidence shown back to us in the shape of alliances such as the one we have just agreed with Equifax in Canada.”