Simplifying your CCR compliance requirements.
As the roll out of the Central Credit Register continues, the March 2019 deadline date draws nearer - this is the date from which a CCR report will be required on business, local authority and moneylender loans worth €2,000 or more.
During the past couple of weeks, we've taken a look at an overview of the CCR, how it's being rolled out and the increased compliance workload it will bring.
This includes the requirement for licensed money lenders, local authorities (county councils etc) and entities that provide business loans to have to request a CCR check on any loan application for €2k or more.
With a similar requirement for lenders that provide hire purchase and asset finance loans coming into effect in Q4-2019, the need for efficient and accurate compliance solutions has never been higher.
Our CRIF Gateway platform is the tool to have when facing the above requirements. It will:
- Allow users to query up to three key databases (CCR, ICB and Vision-net credit reports) in just one search*
- Seamlessly merge data from the CCR and ICB into one user-friendly unified report (a huge timesaver as it eliminates the need for manual comparisons of the data by analysts)
- Give users the option to further process the data in our decision engine to calculate various risk indicators and produce a customised data feed for your system and/or users
Any CCR search conducted through our Gateway will leave a traceable digital footprint on that database which will ensure compliance with Section 14 of the Credit Reporting Act (Duty to access information on Register).
This powerful decisioning tool is available via API with data being returned in XML or PDF as required.
To find out more about the CCR related features on our Gateway solution, please contact our compliance specialists on Tel: +353 1 664 1111 or email firstname.lastname@example.org today.
Provided they are eligible to do so, i.e., respectively, they qualify as a CIP (Credit Information Provider) according to the Credit Reporting Act and they are a member of the Irish Credit Bureau. The CRIF Gateway accesses these databases on behalf of the lending organisation; charges for the data consumed with the data providers stay with the enquiring organisation.
The number of companies that have collapsed this year. This figure is up 55% compared to last year
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PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 27 Companies
E8 (Notice Of Appointment Of Receiver)
- 4 Companies
- 0 Company
The number of companies that have closed this week.
- 515 Companies
- 553 Businesses
- 1004 Companies
HIGH COURT NOTICES
- 2 Companies
- 289 Companies
- 201 Companies