CRiskCo's Open Accounting concept allows our clients to use a simple API to obtain data from leading accounting systems in a fully automated way. Based on the financial data collected, CRiskCo combines Artificial Intelligence (AI), Machine Learning, and Predictive Analytics to predict the creditworthiness of SMEs in the future.
Erez Saf
Obtaining credit is a time-consuming, expensive, and difficult procedure. Lenders must work hard to evaluate each loan application, which limits the number of applications they can examine, rejecting many of them without further evaluation.
With the mission of empowering Business owners and lenders to have open communication, transparency and access to growth through credit facilities, CRiskCo developed a platform that allows financial institutions to acquire information about a possible borrower from a range of sources (Open Accounting) and complete a risk analysis fast, effortlessly and smartly.
CRiskCo's APIs connect to leading accounting systems and creates a full report by converting physical data to digital data, displaying it on a dashboard. This way, lenders can cut the time it takes to grant and administer a loan, as well as eliminate human involvement in credit risk assessment and calculation, resulting in more accurate predictions.
Customers benefit from the shift from a physical to a digital process because it minimizes erroneous discrimination and allows for a more objective analysis by combining many aspects that can affect the risk of a loan or payment monitoring into a single model.