CREDIT MANAGEMENT JULY and August 2022

NEWS SPECIAL - EXCLUSIVE
uncertain, in the short run, firms exposed
to international markets are likely to see
an increase in the risk of non-payment due
to the challenges posed by the conflict in
Ukraine.
DIVERSIFYING RISKS
Scrutinising domestic and international
business partners and diversifying risk is
therefore more important now than ever.
While there is no ‘one size fits all’ approach
to diversification, there are some best
practices firms can adopt.
They can start by combining a supplier
database with other proprietary information.
Then, through the power of advanced
analytics, businesses can gain an enhanced
view of this data, to deliver the necessary
analytics and insights into their supply
Tommaso Aquilante
– Dun & Bradstreet.
Ultimately, businesses
need to be able to
understand and
monitor the risks,
including the current
financial health of
potential and existing
partners.
chains and the health of those they are doing
business with and how they might impact
their own business operations. With these
insights, supplier diversification strategies
could more easily factor in risks such as
border disruption, political unrest, regional
sanctions, or natural disasters.
Ultimately, businesses need to be able to
understand and monitor the risks, including
the current financial health of potential and
existing partners. This will enable them to
assess any potential impact and identify
new opportunities – ensuring business
continuity as Europe weathers this present
economic storm.
Tommaso Aquilante is Associate Director
of Economic Research at Dun & Bradstreet.
>NEWS
IN BRIEF
New partnership
gives visibility to
customer cashflow
YOLT, Europe’s leading independent
and data-driven open banking
provider, has launched a partnership
with Creditsafe that will see Yolt’s
recently launched Cashflow Analyser
added to Creditsafe’s business
information platform for business
and credit professionals.
Using Cashflow Analyser powered
by open banking, Creditsafe will
be able to instantly offer its clients
access to a customer’s cashflow data
to better assess its risk profile.
Historically, credit assessments
involved a complex chain of data
access from multiple suppliers,
which organisations such as
Creditsafe have transformed into
swift and straightforward credit
checks. With the availability of new
and alternative data sources, it is
critical that the complexity or length
of credit application processing is not
increased once again.
Powered by open banking, Yolt’s
Cashflow Analyser automates the
process of retrieving a customer’s
banking data, allowing Creditsafe
to deliver superior and real-time
affordability data for creditors and
businesses lenders.
Nicolas Weng Kan, CEO of Yolt
claims his technology can reduce
processing times on borrowing
applications by 85 percent, saving
lenders up to 18,000 hours per year:
“Our partnership with Creditsafe
enables them to add a valuable,
reliable, and accurate data source to
help their clients optimise their risk
profile assessments” he says. “And
we look forward to helping more
businesses in the UK and across
Europe to benefit from open banking.
Chris Long, Head of Global
Partnerships at Creditsafe, is
excited by the new partnership: “The
availability of open banking data has
been a positive move for the industry,
driving confidence and maintaining
the availability of credit lending
through these highly volatile and
uncertain times. Our partnership
with Yolt means we can seamlessly
integrate this data into our existing
solutions, delivering valuable
new insight whilst maintaining
streamlined credit decision
processes.”
Brave | Curious | Resilient / www.cicm.com / July & August 2022 / PAGE 7