Creditinfo

The initial share capital of Lánstraust ehf in 1997 was one million ISK (then worth €6,600).[4] The sole founder was Reynir Grétarsson, the two co-founders brought their share capitals later the same year.[5] One of these partners left after a few months, the other partner left after 3 years. In 2003, Creditinfo was established. Since then the company has opened offices in 18 countries, most of which still remain, but a few were closed or sold.[6][7] From 2000 to 2009, sales of Creditinfo in Iceland grew from €500,000 to almost €6,000,000. From 2004 to 2007 Creditinfo Group revenue increased from €5 million to €22 million.[8] From 2004 to 2008, Creditinfo was selected as one of Europe’s top entrepreneurial companies for five consecutive years.[9] In 2005, Graham C. Platts and two other former executives of Experian became shareholders by buying initially around 17% of the Creditinfo Group shares. They brought expertise in the area of scoring and other value-added services into Creditinfo and remained shareholders until 2013, when the company itself bought back their share in the company, at that time 31,5%. Buyback of shares was concluded in 2013.[10][11]

In 2009, Creditinfo and Schufa, one of the oldest and biggest credit bureaus in Europe, signed a contract and created Creditinfo SCHUFA GmbH. The strategy of this company was to offer pan-European credit information and related services. This cooperation was terminated in 2011, with each party deciding to pursue its own international strategy.[12] In March 2012, Creditinfo established the first licensed credit bureau in Jamaica. To date, some 36 entities have been registered with Creditinfo Jamaica Limited.[13] Generally said, Creditinfo Group is a leading subject in establishing credit bureaus across the Caribbean.[14] In February 2013, Creditinfo signed an agreement to provide credit bureau software (CBS5) to Central Bank of Afghanistan.[15] In June the same year, The Bank of Tanzania has officially granted a full operation licence to Creditinfo.[16] In November 2013, Creditinfo and CRIF were shortlisted to establish the first credit bureau in Azerbaijan.[17]

Creditinfo Group has been selected in several tenders supported by World Bank, International Finance Corporation, Millennium Challenge Corporation and other international organizations.[18] Creditinfo Group is listed in "Doing Business 2013" publication issued by World Bank and International Finance Corporation.[19]

The acquisitions of ICECREDITINFO and Upplýsingaþjónustan in 1998 eliminated all the existing Icelandic competition.[20] In 2004, Creditinfo acquired a media monitoring service called Fjölmiðlavaktin with 13 full-time employees and sales reaching 120 million ISK.[21] In 2015, Creditinfo acquired Credit Bureau in Morocco from Experian.[22] In August 2015, Creditinfo acquired another credit bureau operation from Experian - the company, Krediidiinfo is based in Estonia.[23] In August 2016, Creditinfo acquired VisualDNA’s Credit and Risk business from Imagini.[24]

Creditinfo operates in the business-to-business sector selling consumer credit reports and related analytics. Its principal lines of business are credit services, decision analytics and risk management. The portfolio of services consists of negative information, supreme court rulings, monitoring products, company information, business information reports, annual reports, marketing lists, real estate collaterals, vehicle registration information, debt collection system, CIP scoring – business, individual registration information, CIP scoring – the consumer.

Like its main competitors, Crif, Experian, TransUnion and Equifax, Creditinfo also provides credit reports directly to consumers.

The Group targets mainly the emerging markets where the company implements solutions in the domain of credit bureau.[25] In Iceland, Creditinfo releases an annual review at the 33,000 companies registered in the country. This financial evaluation is called The Strongest in Iceland.[26]

All of Creditinfo core services comply with the European Union Directive (95/46/EC) on the handling and transmitting of personal information and the equivalent laws in all other countries within which they operate. To increase the transparency of dealing with credit information, the company implemented a service called My Creditinfo. It is available for individuals and each person has access to their own information.

The company collaborates with the DARMAN association (Development Association and Relief of Medical for Afghan Nation) in Afghanistan, which runs primary schools for poor children in the Kama district of the country’s province of Nangarhar.[27] In 2011, Creditinfo Group helped to build an elementary school in Bashay village, Tanzania.[28]

• Experian
• Compuscan
• Credit bureau
• Freecreditreport.com
• TransUnion

• Creditinfo.com, Homepage