Amman, Jordan - STS, the leading company providing complete all-round Information Technology (IT) solutions in Jordan and the region, recently announced the signing ofan agreement with CRIF, a global company specializing in the development and management of credit reportingsystems, business informationservices, and credit solutions.The agreement is part of the projectto bring the first private credit bureau to Jordan, which is expected to be up and running by the end of 2015.
The CRIF Jordan credit bureau will bridge the gap in credit demand in the country, extend it to more segments of society, as well as further support the growth of loans and mortgages. The signing of an agreementbetween STS andCRIF, the developer of the credit bureau, is evidence of the leading role that STS has established in the Jordanian market.
The experience and successful track record of STS prompted CRIF to select STS as the solution provider for the Jordan credit bureau data center. STS will be responsible for providing thecredit bureau data centerinfrastructure.
The data center will enable the credit bureau to manage positive and negative credit information sent by Jordanian institutions through an advanced technology platform, which will integrate all data into a single report.
As a result, an increased number of Jordan's consumers and businesses will be able to access financial services and obtain more favorable loan conditions, while on the other hand, lenders will be able to access borrowers' credit history, confidently evaluate credit risk, and make lending decisions more quickly.
And from his side, the General Manager ofCRIF Jordan, Mr. Ahmad Amoudi, commented: "We are satisfied with the decision, knowing that STS is a reliable technology partner with thousands of successful projects completed in the region. I amconfident that the quality of service willbe of a global standard."
Commenting on the agreement the STS Sector Lead of Banking, Financial Services and Insurance, Mr. Ahmad Busila, said: "We are proud ofbeing selected to partner up in such a breakthrough project with CRIF, and due to the many benefits it will bring to the Jordanian market, we strive to make the credit bureau a success by integrating the STS and CRIF capabilities".A glimpse on STS:
For over two decades, STS has led the market in providing diverse IT solutions to Jordan and MENA. Based in Jordan with regional offices in Saudi Arabia, United Arab Emirates, Bahrain, Palestine and Iraq, and with distributors in most countries of the MENA region, STS has positioned itself as a key player in the revolutionary transformation of the information technology sector. With its long-standing partnerships with industry pioneers such as Cisco, Dell, IBM, Microsoft, Hypercom, Oracle Sun EMC, Corning and others, STS maintains a firm leading position among the best providers of turnkey solutions to more than 1000 customers serving various sectors of the economy including Financial Services, Telecommunication, Government, Health, Education and SMB's.
About CRIF:
CRIF is a global company specializing in the development and management of credit reporting, business information systems, and credit solutions. Established in 1988 in Bologna (Italy), CRIF has an international presence, operating over 4 continents (Europe, America, Africa and Asia). The company supports banks and financial institutions, insurance companies, utilities and business in every phase of client relations.
CRIF has been involved in the development of credit bureaus in Vietnam, Bangladesh, Indonesia, Philippines, United Arab Emirates, Jordan, Jamaica, Russia, Tajikistan, Morocco, and Benin. It also manages the first positive and negative credit bureau in Italy, the banking and non-banking credit bureaus in the Czech Republic and in the Slovak Republic, and a full service credit bureau in India.
CRIF is currently the leading group in continental Europe in the field of banking credit information and one of the main operators on an international level concerning integrated services for business and commercial information and for credit and marketing management.
More than 3,100 banks and financial institutions and over 25,000 business clients use CRIF services in 50 countries on a daily basis.
For detailed information on CRIF: www.crif.com
© Press Release 2015
