CreditorWatch wins three-year contract with Coface to support its credit insurance underwriting business
Coface selects CreditorWatch as credit and financial data partner including API driven decisioning, fully digitised financials and in-depth credit analysis.
Sydney (Australia), 26 September, 2022: CreditorWatch, a commercial credit reporting bureau with over 50,000 customers across Australia, today announced it has secured a three-year contract with Coface, a global specialist in trade credit insurance, to support its global insurance unwriting business that has a presence in more than 100 countries.
CreditorWatch is an Australian-owned credit reporting bureau that provides credit and financial risk information, digitised financials, credit scoring and modelling and API driven data delivery. CreditorWatch’s data enables businesses of all sizes to access credit risk information. Key data highlights include ‘Risk Score’, the most predictive credit algorithm in the Australian market, unique SME payment and default data and ATO tax debt default data.
The partnership with Coface marks a significant milestone for both Coface and CreditorWatch.
Coface will utilise the CreditorWatch API to automate and integrate credit reports (including fully digitised financial information), credit ‘Risk Score’ and credit monitoring into the Coface system.
Patrick Coghlan, Chief Executive Officer of CreditorWatch said, “We’re excited to be providing Coface with detailed credit risk data to support its insurance underwriting business. This will help deliver invaluable information to Coface so it can make data-driven business decisions, a necessity in the current competitive financial and economic environment.”
Chris Little, Chief Executive Officer of Coface Australia and New Zealand said, “Coface is pleased to engage CreditorWatch to support our global organisation. Working with Patrick’s team is a very positive experience, and our insurance underwriting is all the stronger now, as we’re able to leverage the superior data and product offerings provided by CreditorWatch.”
Roberto Bastos, Manager of Credit Research of Coface Australia and New Zealand said, “Gaining access to fully digital financial information allows our enhanced information team to provide a diverse range of analytics and credit exposure recommendations to Coface’s risk and underwriting team.”
CreditorWatch is a digital credit reporting agency, headquartered in Sydney. From sole traders through to ASX listed companies, more than 50,000 Australian customers avoid high-risk debtors and ensure they get paid on time. CreditorWatch customers can easily search for and monitor the credit history, court actions, payment defaults and insolvency notices associated with any business entity in Australia and New Zealand (including sole traders, trusts and partnerships) giving them an incredibly accurate picture of the risk posed to their business. The company was founded in 2011 and has offices in Sydney, Melbourne and Brisbane. Find out more at www.creditorwatch.com.au
With 75 years of experience and an extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Debt Collection, Single Risk insurance, Bonding and Information services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients in 100 countries build successful, growing, and dynamic businesses across the world. Coface helps companies in their credit decisions. The Group’s services and solutions strengthen their ability to sell by protecting them against the risks of non-payment in their domestic and export markets. In 2021, Coface employed ~4,538 people and registered a turnover of €1.57 billion.