CRIF LLC and Luxbase LLC announce the completion of the acquisition by CRIF of assets owned by Luxbase LLC

Luxbase, established in 2005 by a team of professionals, developed the first version of the "Contact" collection system in 2006 for the automation of debt recovery processes.

Currently "Contact" successfully competes with well-known solutions provided by large multinational companies in terms of its performance and implemented functionality and has many benefits, including attractive pricing, short delivery times and reliability. These benefits have enabled the system to establish a leading position in the Russian and CIS markets and provide the possibility of business expansion in Asia (Vietnam, Philippines, Indonesia, Malaysia, and China).
Currently more than 70 companies use “Contact”, including banks, collection agencies, microfinance organizations and utility companies.

This acquisition will allow CRIF to significantly increase the number of customers using CRIF solutions as well as to use the practical experience of projects related to debt recovery processes for further promotion and development. CRIF can see great potential for the further development of the system. The new version of the platform will be available in the spring of 2018 and will allow CRIF to accelerate international expansion to new markets in Europe, the Middle East and Asia by offering debt recovery processes as a service (cloud solution).

In combination with other CRIF products such as StrategyOne, CRIF’s international experience, and knowledge related to business processes, strategies and scoring, CRIF will be able to offer markets a highly competitive solution.

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