Solutions for assessing creditworthiness - SIVABON | SIVECO Romania

Solutions for assessing creditworthiness - SIVABON

SIVABON application is developed by SIVECO Romania in collaboration with the specialists of the Credit Bureau in Romania. The system manages a common database that contains information about retail customers, debtors, fraudulent clients and their accounts.

The system manages negative and positive data coming from banking and non-banking sources.  

The monitoring database is available to all the banks that participate in the system, being based on the following principles: 

  • reciprocity 
  • confidentiality 
  • impartiality and correctness  

How does SIVABON work?

Each banking customer in the SIVABON database has a creditworthiness coefficient associated.

This risk factor is calculated automatically by the program, depending on the due amount, the age of the debt and the severity of the irregularity found or, for good paying customers with no debts registered in the system, based on their payment history.

Benefits for SIVABON clients

As an immediate benefit, the system contributes to the substantial reduction of money losses caused by bad debtors.

In case of detection of customers with debts or with other payment problems, credit institutions will be able to take the necessary measures – demand of a payment advance, specification of a safe payment method, refusal of credit s.o.

The benefits of sharing information:

  • promotes the behaviour of good payer as long as customers are motivated to proceed their payments on time 
  • facilitates the decision-making process that becomes simpler, faster and safer as long as it is based on accurate information 
  • develops the analysis capacity for participants consulting this type of information
  • guarantees the solidity of the credit bureau system
  • avoids the indebtedness of customers by awareess of their obligations towards other participants (banking or non-banking)
  • eliminate customers that request credits from several participants and do not pay them

SIVECO Romania implemented, for the first time in Romania, its SIVABON solution within the Credit Bureau.

  • Over 50 million credit reports during 2004 – 2013
  • Manages a shared database focused on information about retail clients, debtors, fraudulent persons, and their accounts
  • Information management tool regarding credit risk
  • Works with positive and negative data
  • Allows the use of score cards for centralised scoring or specific banking scoring
  • Provides credit reports for clients using uniform criteria

“From the beginning of our collaboration, SIVECO Romania supported the Credit Bureau in the development of a reliable and efficient information source for its members. The greatest advantage of the SIVABON system, on which this institution's operations are based, is represented by its contribution to building financial relations with a reduced risk degree for its members (financial-banking and non-banking institutions) and, indirectly, for the entire Romanian financial system. Within the collaboration established with the Credit Bureau based on a reciprocity principle, each member contributes to the development and maintenance of a complex database containing high quality data. In this regard, the implementation of SIVABON at the Credit Bureau represents a very powerful and efficient tool, easy to use by all Credit Bureau members", Lucian Grigorescu, Project manager SIVECO Romania.