Credit Information Bureau launches new reputation and compliance check solution
AS “Kredītinformācijas Birojs” has added a new service that lets companies check the reputation and compliance of clients and business partners. It is meant to help spot risks before cooperation begins.
The Latvian company AS “Kredītinformācijas Birojs” (KIB) has expanded its range of services with a new solution designed for checking the reputation and compliance of clients and business partners. Its aim is to help companies identify potential risks linked to clients, partners, suppliers and other counterparties before cooperation begins.
Why a credit assessment is no longer enough
The announcement states that when choosing a business partner today, it is no longer enough to assess only its financial situation and creditworthiness. Companies are therefore expected to consider a partner's reputation and compliance too, and the new KIB service is built for that purpose.
What is known about the new service
The solution adds to KIB's existing portfolio of services. The available excerpt of the announcement gives no technical or pricing details and no exact launch date, so those questions remain open. What is clear is that the service is aimed at companies that want to evaluate their counterparties more broadly than by financial indicators alone.
