Over 18 million credit reports released in the last past years with the help of the software developed by SIVECO Romania | SIVECO Romania

Over 18 million credit reports released in the last past years with the help of the software developed by SIVECO Romania

Tuesday, May 13, 2008

Along with the Romanian Credit Bureau, Transilvania Bank and Microsoft Romania, SIVECO Romania participated to the conference dedicated to the finance & banking sector “The Credit Bureau: important feature of a healthy crediting activity”. Finmedia organized the event in partnership with the Romanian Banks Association. The happening reunited presentations of well - known specialists as well as debates on hot – subjects regarding the Credit Bureau’s activity. The selected auditory has been formed by important representatives of the Romanian finance & banking sector. 

With this occasion, Lucian Grigorescu, Project Manager within SIVECO Romania, presented “Introducing IT into the process of interrogation inside the Credit Bureau and interpreting the given result”. During the presentation, Lucian Grigorescu also outlined the most important benefits gained by the software users. The system in discussion is installed on the participant’s computers, the application basing itself on a web service that allows direct communication inside the internal application of the participation and the Credit Bureau. Along with the web service, there is also a portal that manages the interpretation schemes of the answer provided by the Credit Bureau. 

The efficiency of the crediting process is considerably increased and the time needed for answering to clients’ request is simultaneous reduced. Responsible for these benefits are the automatic integration of the Credit Bureau’s data base through the internal application inside every bank and the automatic interpretation of the credit report received from the Credit Bureau. At the same time, the management of the eligibility schemes – that represent the foundation for interpreting credit reports – can be made by any financial institution by itself, depending on the type of the credit report requested and on the specific internal procedures. Through the automatic calculation of the clients’ eligibility, subjectivism is avoided in the decision making process.  

“Even from the beginning of our collaboration, SIVECO Romania sustained the Credit Bureau in representing a secure and efficient information source for its participants. The biggest advantage of the SIVABON system, that represents the foundation of this very important institution in the Romanian economy, is the contribution it brings in building financial relations that allow minimum risk for their participants (finance & banking institutions as well as non – banking ones) and, also, for the entire Romanian financial system. Within the collaboration with the Credit Bureau, based on the reciprocity concept, each participant brings its contribution to the development of a very large database, containing highly qualitative information. In this respect, the connection between SIVABON and the application that assures an automatic process for the Credit Bureau interrogation and for the given answer, represents an extremely powerful and efficient tool for the Bureau’s participants”, declares Lucian Grigorescu. 

The collaboration between SIVECO Romania and the Credit Bureau started along with the development and implementation of the SIVABON application (Client Solvency Validation System) in 2004. The SIVABON application developed by SIVECO Romania in partnership with the Credit Bureau’s specialists manages a shared database containing information regarding the retail clients, debtors, fraudulent persons and their accounts. The system operates with negative and also positive data, obtained from banking and non-banking sources. 

SIVABON proves to be a system for the management of the beneficiaries from banking credit at national level. By managing positive data as well, the Credit Bureau helps the good clients in their relationship with the Romanian banks for obtaining credits in more advantageous conditions. This year, in order to reduce more the crediting risk, the Credit Bureau in partnership with SIVECO Romania will launch the third phase of the project developed together. During this next step, the scoring system offers a very useful tool for anticipating the behavior in returning the credits for the banks’ clients. 

“This conference reunited important names from the Romanian finance & banking sector, opening discussion on subjects of great interest at this moment. The opportunity for the Romanian Credit Bureau to collaborate with the Bureaus from other European countries, the development of the scoring system, the automatic procedures and the enrichment of the information and participants sphere represent important subjects for the Romanian finance & banking representatives as well as for SIVECO Romania. Right from the beginning, Our company sustained the Credit Bureau’s evolution and we will continue to do that, by a profound understanding of particular requirements of this institution and by assuring a software that will continue to bring efficiency, facilities and security in its activity from now on”, declared Lucian Grigorescu, Project Manager within SIVECO Romania. 

During the conference works, aspects regarding the Credit Bureau’s activity and its role made the subject of presentations of: Șerban Epure – General Manager of the Credit Bureau, Elena Petculescu – President of Honor Bancpost, Radu Grațian Ghetea – President CEC and President of the Romanian Banks Association, Cristian Bichi – Deputy Manager Department for Financial Stability BNR, Alina Săvoiu – the National Supervisory Authority For Personal Data Processing, Dan Vlaicu, Secretary of State, President of the National Authority for Consumer Protection etc.