CRiskCo Sept Newsletter 2020
With the Jewish New Year upon us, I wanted to reach out and wish you a healthy, happy, and peaceful new year.
To all our partners, customers, supporters, and team members, we wish you and your family a safe, healthy, and prosperous new year.
US & Australia Update:
Through August and September, we helped the first Small to Medium Business Enterprises (SMBs) apply for credit in the US and Australia. We expanded our lender network to include Banjo Bank, Capify,C6 Capital, and Business Fuel. We are growing the CRiskCo Direct marketplace and looking for more lenders to join, and to assist more business owners with financing solutions tailored to their needs.
In Mexico, we expanded our services handling SAT data, to run automated checks in two blacklists for all customers and suppliers across all applications. We check the SAT blacklist and the US OFAC List. You can learn more about this in the article below.
CRiskCo Group News:
Our database of invoices had grown to above 1.5B USD for the first time, including more than 80,000 debtors in our system and still growing on a weekly basis.
We are looking to invest more time throughout September and October to improve access to our APIs, making it easier for banks and alternative lenders to use our APIs to connect with accounting systems and different sources of information. Register to use our API at developers-open-accounting-api/ . We always love to hear any suggestions or insights you might have that assist us in improving and refining our product and service offerings, so please contact us with your feedback at any time..
Shana Tova and may you be signed and sealed in the Book of Life.
Erez Saf and the CRiskCo team
Z Altman Score and Bankruptcy Predictability Measures
The Z Altman Score is a formula for predicting bankruptcy that was first published in 1968 by Edward I. Altman. In many CPA exams, it is a mandatory subject as the formula has proven ( over the past 50 years) to have a strong correlation between the average score and the likelihood for default in 1 to 5 years. Now with CRiskCo, you automatically receive this valuable information calculated as a standard datapoint for anyone who uses our platform. At CRiskCo, we use the Z-Altman score for private SMBs, which is slightly different to the public companies ratings model. For more details email email@example.com
Z’ > 2.9 – Safe zone
1.23 < Z’ < 2.9 – Grey zone
Z’ < 1.23 – Distress zone
SMB Financial Solutions Survey
CRiskCo has launched a new survey to assist us in supporting our business community. The results will help us understand how we can best serve and add value to Small and Medium Businesses at this time, in addition to our existing suite of products. If you are a business owner, CFO, or CEO from any industry or location please take 2 minutes (PROMISE!) to complete this survey.
Help us get to know you better.
CRiskCo Expansion of Services in Mexico, Accessing New Information from SAT
As part of our effort to expand our services in Mexico, we recently launched new features and connected to additional data sources.
SAT is the Mexican Government repository of commercial transaction data.
As part of our integration we provide our lenders :
- Blacklist checks for the applied company, it’s customers and suppliers into two blacklists:
- SAT Blacklist managed by the Mexican Government, and
- The Office of Foreign Assets Control (“OFAC“) of the US Treasury Department (US OFAC) list of companies.
- Yearly financial declarations (financial statements) for the past 3 years.
- Customer, and suppliers details and performance.
- Access to the last 3 years of Sales and Purchase invoices.
- Access to payment data, delays, and collection performance.
The standardised business profile from SAT allows our clients to act faster, select a better borrower, and get real-time representation of the applicants. This tool is easy to implement and, with our experience, can be launched in less than 3 days. Don’t wait! If you do business in Mexico, you can’t afford to miss this data.
CRiskCo Direct Lending, a new approach for qualified loan referrals.
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