Russian Standard Credit Bureau Chooses CRIF Credit Information and Risk Management Solutions

Russian Standard Credit Bureau has chosen CRIF as a strategic partner to develop its own brand new credit information system.

Atlanta, GA, December 09, 2011 --( CRIF has developed a state-of-the-art technological platform for Russian Standard Credit Bureau to manage and centralize credit information. The system has been customized according to the needs of Russian Standard Credit Bureau and implemented as a high quality solution bringing together CRIF best practices and international know-how.

Russian Standard Credit Bureau has set itself a new strategic goal for the next 2-3 years: to become one the most competitive and fast growing companies on the Russian market. The Credit Bureau is going to deliver new value added services to the credit history market.

“CRIF is very pleased to be Russian Standard’s partner in the implementation of this brand new credit bureau solution. Our successful experience in delivering similar solutions in other countries makes us confident that significant advantages will also be provided to the Russian market. On the one hand, the availability of a full credit history will give credit applicants, consumers and businesses, easier access to credit, as well as providing more favorable conditions to reliable applicants. On the other hand, Russian Standard Credit Bureau lenders will be more confident in the management of the financial exposure of consumers and can avoid excessive risk assumption,” explained Mr. Carlo Gherardi, CRIF President and CEO.

"Though I have to admit that Russian Standard Credit Bureau is a rather young company, it has grown significantly during the last two years. At the beginning of our activity there was collaboration with only one exclusive client – Russian Standard Bank; now we have some of the largest retail banks among our partners (Sberbank, VTB-24, Home Credit, Renaissance Credit, etc.). We are sure that CRIF will not only help us in the development of traditional bureau services (credit reports, ratings, “constructor” for scoring), but in the implementation of innovative products, which will be our specialization in the near future,” said Roustam Tariko, Head of Russian Standard Group.

“In fact, CRIF has already developed similar projects around the world. In Europe, CRIF established and manages the leading credit reporting system operating in Italy (EURISC), and also manages the banking and non-banking credit bureaus in the Czech Republic, the Slovak Republic and Hungary. Moreover, recently CRIF acquired operations in Switzerland and Austria from Deltavista Group, a leading provider of credit rating data and risk management services. CRIF has been present in Russia since 2005, and through OOO CRIF, located in Moscow, and will also be able to support Russian Standard Credit Bureau in its longer-term business vision with value-added services and decision support solutions in every phase of the customer relationship.”

“We have combined global know-how with a local approach in order to develop a world class solution which takes into account the specific needs of the Russian lending market and legal environment. It is this type of approach which has made CRIF successful during the last 20 years,” added Mr. Carlo Gherardi, CRIF CEO.

Federica Vincenzi (Press Office)