The Credit Bureau in the Republic of Moldova works with the SIVABON solution from SIVECO Romania | SIVECO Romania

The Credit Bureau in the Republic of Moldova works with the SIVABON solution from SIVECO Romania

Tuesday, March 2, 2010

The solution supplied by SIVECO Romania was chosen due to its very good price and performance ratio

Bucharest, 2nd of March 2010 - SIVECO Romania has successfully concluded implementation of the SIVABON system at the Credit Bureau in Republic of Moldova, certified by the receipt of the functional acceptance letter from the beneficiary.

Changes on the credit market in Republic of Moldova imposed taking some prudence measures. Thus, it emerged the need for setting up an agency for monitoring the users' credits.

The Credit Bureau in the neighboring country has chosen the SIVABON solution provided by SIVECO Romania both due to the very good price/performance ratio, and, mostly, due to the excellent results of the solution operating at the Romanian Credit Bureau.

One has to mention that, in the Republic of Moldova, the SIVABON application manages data on physical persons and on juridical persons as well. In Romania, only physical persons are registered in the Credit Bureau database.

"The great advantage of the SIVABON system which is the basis for the operating of this institution, extremely important for Republic of Moldova, is that it helps in building financial relations with low degree of risk for its participants (financial& banking and non-banking institutions) and, indirectly, for the entire Moldovan financial system. Each participant contributes to the building and maintaining of a large scale database containing best quality data", said Cristian Aciubotaritei, Head of Unit Key Public Accounts within SIVECO Romania.

The collaboration between SIVECO Romania and the Credit Bureau in the Republic of Moldova was launched in 2008. The SIVABON application, developed by SIVECO Romania in collaboration with the specialists of the Credit Bureau in the Republic of Moldova, manages a common database containing information on debtor clients, fraudulent persons and their accounts. The system manages negative and positive data, coming from banking and non-banking sources.

"The SIVABON application provides the participants with an extremely powerful tool for determining the current degree of risk in the activity of lending and portfolio analysis. We are sure this will be the main instrument both for the credit approval and risk analysis departments, and for the departments for developing new products and internal policies", stated Lucian Grigorescu, Senior Project Manager within SIVECO Romania SA, responsible for project implementation in the Republic of Moldova.

"The SIVABON solution implemented by SIVECO Romania at the Credit Bureau will streamline the process for taking a decision, which becomes simpler, quicker and safer, as long as it is based on higher information from the quantitative and qualitative point of view. At the same time, the number and value of due payments at the level of the financial- banking sector in our country will decrease", said Silviu Foca, Manager of the Credit Bureau in the Republic of Moldova.