“According to the SME Barometer, we have seen a slight increase in loan applications by SMEs due to the stable interest rate level since 2013”, explained Jürgen Krenn, Head of Financial Sales at CRIF Austria.
After years of decreasing transaction volumes, CRIF is experiencing a higher demand for data and ratings, the so-called Credit Check service, which leads to the conclusion that either more loan applications are being submitted by SMEs or that banks have tightened their credit risk policies. Moreover, we are seeing SMEs strengthen their equity.”
To improve risk management and detect early delinquencies, CRIF offers the Credit Check service in Austria, which provides a score calculated using payment histories and socio-demographic data.
“Emotion Banking and CRIF have developed a key indicator for the entire portfolio, called CRIF Points. CRIF Points will allow banks to carry out benchmarking against other segments as well as other banks”, said Mr. Rauscher, CEO of Emotion Banking.
