The SIVABON system manages a shared database containing information about retail customers, debtors, fraudulent customers, and their accounts. The application is developed by SIMAVI in collaboration with specialists from the Credit Bureau in Romania.
The system handles both negative and positive data from banking and non-banking sources.
The database necessary for monitoring is available to all banks participating in the system and is based on the following principles:
- Reciprocity
- Confidentiality
- Impartiality and fairness
HOW DOES SIVABON OPERATE?
Each bank customer in the SIVABON database is assigned a creditworthiness coefficient. The risk factor is automatically calculated by the program based on the amount owed, the age of the debt, and the severity of any detected irregularities. For customers with a good payment history who have no recorded debts in the system, the calculation is based on their payment history.
BENEFITS FOR SIVABON CUSTOMERS
As an immediate benefit, the system significantly reduces financial losses caused by delinquent payers.
In the case of detecting customers with debts or other payment issues, credit institutions can take necessary measures—such as requesting an advance payment, specifying a secure payment method, or refusing credit, etc.
BENEFITS OF INFORMATION SHARING:
- Promotes good payment behavior: Customers are motivated to make timely payments.
- Facilitates decision-making: The process becomes simpler, faster, and safer when based on accurate information.
- Enhances analysis capabilities: For participants consulting this type of information.
- Ensures the robustness of the credit bureau system.
- Prevents over-indebtedness: By knowing customers’ obligations to other participants (banking or non-banking).
- Eliminates clients seeking credit from multiple participants and not paying their debts.
SIMAVI first implemented its dedicated solution, SIVABON, within the Credit Bureau in Romania.
- Over 50,000,000 credit reports issued between 2004 and 2013.
- Manages a shared database focused on information about retail customers, debtors, fraudulent customers, and their accounts.
- Serves as an information management tool for credit risk.
- Works with both positive and negative data.
- Allows the use of so-called “score cards” to centralize the score or a specific bank score.
- Provides credit reports for customers using uniform criteria.