Coface UK & Ireland are launching a new initiative which continues to improve dialogue and maintain confidence between businesses trading on credit, in line with its Transparency Charter. Coface, in association with a new service called CreditPal and information partner Graydon, have joined forces to help businesses update and ultimately improve the accuracy of their credit rating.
By registering with Coface’s Transparency Charter and accessing CreditPal’s online platform via the Coface website, a business of any size can upload its financial data directly from their accounting package. This data is first validated for its accuracy and quality and then shared with Coface’s information partner Graydon, who will analyze the financials in order to express a credit rating. The business can then choose to share this report with Coface.
CreditPal: FSB CreditPal enables members to supply the financial information necessary to receive an up-to-date credit recommendation for their business, allowing them to access essential credit and finance on the best possible terms. More and more trade insurers and financial institutions require up-to-date financial information from small businesses before they’ll provide key credit lines or financial products. FSB CreditPal is a free service for FSB members that allows them to supply the summarized management accounts necessary to receive an up-to-date credit recommendation for their business from leading credit referencing agency Graydon. Source: Creditman United Kingdom
