The Trnsact credit and finance platform will be powered by industry-leading Creditsafe’s proprietary credit intelligence and scoring system
/EIN News/ — Irvine, Calif. and Allentown, Pennsylvania, Sept. 14, 2022 (GLOBE NEWSWIRE) — Transactiona leading financial technology company in the field of business equipment, and Creditsafe, the global leader in credit monitoring and risk management, today announced a partnership to bring more clarity and less risk to the commercial equipment finance process. Through this partnership, Trnsact will integrate Creditsafe’s credit risk data and scoring system into its credit application and financial management platform.
“Trnsact customers want to integrate the best tools and data to manage risk and make fast credit decisions for their customers,” said Vijay Patil, COO of Trnsact. “By integrating our platform with Creditsafe, we are able to make secure, compliant and accelerated funding decisions, while deploying the best available candidate data for the decision process.” Mr. Patil has over two decades of risk management experience for world renowned brands such as HSBC, Mitsubishi and Yamaha.
Credit history plays an important role in the financing process. The higher the credit score, the more likely businesses are to be offered financing offers. But credit scores can be negatively affected by a history of past due payments, judgments and bankruptcies. All of this information provides a clear signal about a company’s credit performance and risk level, which is critical before a financing agreement can be proposed.
However, when credit data is lacking or unreliable, it can open the door to financial, legal and compliance risks. This partnership aims to solve the age-old problem of poor data quality and mitigate risk, while accelerating the decision-making process and improving the overall customer experience for Trnsact customers.
“As one of North America’s leading commercial equipment fintech companies, Trnsact is an ideal partner for Creditsafe,” said Matthew Debbage, CEO of the Americas and Asia for Creditsafe. “With a focus on integrated data management, security and compliance, the addition of our comprehensive credit risk data and proprietary scoring system will further strengthen Trnsact’s offering. Together, Creditsafe and Trnsact can enable equipment finance lenders to be more aware of the credit risks that threaten their productivity, growth and success – and ultimately be more proactive in mitigating. of these risks.
To learn more about how Creditsafe data will be integrated into the Trnsact platform, you can visit this Web page and schedule a meeting with a Trnsact expert.
Trnsact is a leading provider of integrated financing solutions for commercial equipment dealers. The company provides technology, tools and resources to dealers to enable them to transact efficiently and securely. Trnsact’s integrated financing products and payment solutions solve inconsistencies and the lack of security and transparency for equipment resellers by providing an easy-to-use, turnkey solution that delivers more sales, new revenue channels , increased efficiency and a better customer experience. www.Trnsact.com
Creditsafe, the global expert in credit monitoring and risk management, is the world’s most widely used business reporting provider. Today, 110,000 customers worldwide depend on Creditsafe to make critical business decisions. Using real-time data from over 9,000 sources in over 160 countries, Creditsafe provides clients with clarity on their trading landscape, enabling them to confidently mitigate financial, legal and compliance risks within of their business. To learn more, visit www.creditsafe.com
Scott Shepherd, Director of Marketing Trnsact (657) 251-7121 [email protected]m Ragini Bhalla, Head of Content and PR Creditsafe (North America) +44 7715 056227 [email protected]