Beijing, May 23, 2011

CRIF now provides Chinese banks and financial institutions with credit risk management solutions

CRIF announced its further expansion in China by establishing CRIF Beijing, to provide credit risk management solutions to Chinese retail banks, consumers and auto finance companies.

With offices now in both Beijing and Shanghai, CRIF provides decision support systems and software solutions to help local banks and financial institutions develop more efficient and innovative retail lending procedures and processes; from customer targeting and acquisition, to portfolio management and debt collection.
Thanks to CRIF services, Chinese financial institutions will be able to respond faster and more effectively to the challenging and ever-changing demands of the customer, the market and regulatory bodies.

"In China the consumer credit market is growing rapidly and offers challenging opportunities for further development. Our strategic choice is to reinforce CRIF's position in Asia in the fields of integrated and advanced analytics, IT solutions and consulting services, supporting banks and financial institutions in customer acquisition and credit portfolio management", said Carlo Gherardi, CRIF's CEO.

CRIF leverages on its international experience in the development of decision support systems for credit risk management and marketing strategies, and combines this with local know-how in order to meet the specific needs of the Chinese market. In fact, since 2008 CRIF has been operational in China through Huaxia CRIF, a joint venture with Huaxia Credit Consulting, offering credit application processing, consumer loan management, debt collection, decision support solutions and pre-employment screening.