CRIF expands its business operations in China, providing enterprises with business and credit information

The Shanghai Head Office of the People's Bank of China (“PBOC”) recently announced the approval of the registration of CRIF (Shanghai) Business Information Service Co., Ltd. as a business and credit information provider.

CRIF, a 100% Italian-owned enterprise, becomes the second wholly foreign-owned enterprise (WFOE) in China to succeed in getting the PBOC approval.

“We are honored that the People's Bank of China has officially approved and announced that CRIF can operate as a business and credit information provider in China. CRIF has become the second WFOE in China to be granted registration by the People's Bank of China. This is not only a milestone in our business development, but also a new impetus for CRIF, which can now start helping enterprises take more efficient business decisions, while helping the orderly and steady development of the domestic credit reporting industry,” said Lily Zhou, General Manager of CRIF China.

CRIF has been operating in China since 2011, providing business and credit reporting services, global business information, analytics & decision solutions, digital finance and other solutions in the Greater China Region. CRIF integrates leading international financial risk control and big data experience, and is committed to helping clients take the best business decisions.

“Trust is the most important element in our industry, something that is often earned over many years, and can be lost in a second. Working in the information industry, we are fully aware of the fact that our clients who manage data, both individuals and companies, and public bodies that oversee the lawful application of policies, must be fully confident that we can operate safely, securely, and in full compliance with the law, and this is possible only through trustworthy business information. This is what we are aim for, providing our clients with the best information to achieve their business objectives,” said Vincenzo Resta, Asia Regional Executive Director of CRIF.

“Our goal for Asia is to become the most trusted enabler of business transactions in the region by 2022,” continued Vincenzo Resta. “We already have the widest footprint in the credit and business information industry in the region, as well as the evolving solutions to support this goal. The final element is the continued commitment to security, and an ongoing strategy to invest in the region.”

CRIF is currently the leading group in continental Europe in the field of banking credit information and one of the main operators on a global level for integrated services for business & commercial information and credit & marketing management. CRIF is included in the prestigious IDC FinTech Rankings Top 100, the classification of the top providers of global technology solutions for the financial services industry.

Today, more than 10,500 financial institutions, 1,000 insurance companies, 82,000 business clients, and 1,000,000 consumers use CRIF services in 50 countries and territories on a daily basis. 

CRIF's long-term accumulated professional knowledge and experienced team come together to provide clients with comprehensive integrated solutions and help clients make correct judgments on the target market. In addition, CRIF effectively integrates credit reports, decision support models, management solutions, consulting, outsourcing, and software with global business information systems to provide more accurate solutions based on client needs. From strategic planning to anti-fraud, credit application, loan management and debt collection, CRIF benefits from the comprehensive integration capabilities of its own products, integrating or designing high-efficiency solutions for different stages of the customer relationships.