CreditRiskMonitor Approved as an Allianz Trade Discretionary Credit Limit Qualified Credit Agency

Rhea-AI Summary

CreditRiskMonitor has been approved as a Discretionary Credit Limit (DCL) report provider by Allianz Trade, the world's leading trade credit insurer. This partnership will help Allianz Trade clients better manage credit risk by utilizing CreditRiskMonitor's reports on over 30 million businesses worldwide.

Positive

• CreditRiskMonitor's reports provide industry-leading bankruptcy risk analytics and trade payment information, helping corporate credit and procurement professionals manage financial risk more quickly and accurately. The company's FRISK score for public companies and PAYCE score for private companies have high accuracy in predicting corporate bankruptcies.

Negative

• None.

VALLEY COTTAGE, NY / ACCESSWIRE / August 8, 2023 / CreditRiskMonitor® (OTCQX:CRMZ) and Allianz Trade, the world's leading trade credit insurer, are pleased to announce the approval of CreditRiskMonitor as a Discretionary Credit Limit (DCL) report provider. The reports provided by CreditRiskMonitor will help Allianz Trade clients that utilize the DCL solution better manage credit risk.

With reports on over 30 million businesses worldwide, including industry-leading bankruptcy risk analytics on more than 5 million businesses and trade payment information on more than 4 million businesses, CreditRiskMonitor helps corporate credit and procurement professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively. The Company's 96%+ accurate FRISK® score for public companies and its 80%+ accurate PAYCE® score for private companies provide unparalleled performance in predicting corporate bankruptcies.

The information provided by CreditRiskMonitor will supplement Allianz Trade's own information regarding companies, which enables organizations to make safe credit and commercial decisions. Allianz Trade's proprietary intelligence network analyses daily changes in +80 million corporates' solvency to help companies to grow safely.

Mike Flum, CEO & President of CreditRiskMonitor, said "We are happy to establish this partnership and excited to announce that our subscribers can now use our business reports to obtain credit insurance under Allianz Trade's Discretionary Credit Limit solution. Extending the utility of our reports and analytics is a top priority at CreditRiskMonitor as we perennially focus on creating value in excess of cost for our subscribers. We look forward to a great collaboration with Allianz Trade as we help our mutual clients to protect their balance sheets."

About CreditRiskMonitor

CreditRiskMonitor® (creditriskmonitor.com) sells a suite of web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. The products help corporate credit and procurement professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively.

The Company's newest platform, SupplyChainMonitor™, leverages its financial risk analytics expertise to create a risk management solution built specifically for procurement, supply chain, sourcing, and finance personnel involved in the supplier lifecycle, risk assessment, and ongoing risk monitoring. Users can assess counterparty risks at the aggregate and granular levels under a variety of categories including geography and industry, as well as customized, customer-specific configurations. The platform features mapping capabilities with real-time weather/natural disaster event overlays as well as customizable news notifications, reports, and charts.

Our subscribers, including nearly 40% of the Fortune 1000 and well over a thousand other large corporations worldwide, use the Company's timely news alerts, research, and reports on public and private companies to make important risk decisions. The Company's comprehensive commercial credit reports covering both public and private companies worldwide are published through its web-based platform and feature detailed analyses of financial statements, including ratio analysis and trend reports, peer analysis, corporate issuer ratings from key Nationally Recognized Statistical Rating Organizations ("NRSROs"), as well as the Company's proprietary bankruptcy analytics: the FRISK® and PAYCE® scores. One of the FRISK® scoring model's exclusive input features is the aggregate risk sentiment of our subscribers based on their crowdsourced usage behaviors resulting in the improved classification of bankruptcy risk for the riskiest corporations and boosting overall accuracy.

The Company, through its Trade Contributor Program, receives confidential accounts receivables data from hundreds of subscribers and non-subscribers every month. This trade receivable data is parsed, processed, aggregated, and finally reported to summarize the invoice payment behavior of B2B counterparties, without disclosing the specific contributors of this information. The Trade Contributor Program's current trade credit file processes nearly $3 trillion of transaction data annually.

About Allianz Trade

We predict trade and credit risk today, so companies can have confidence in tomorrow.

Allianz Trade is the global leader in trade credit insurance and a recognized specialist in the areas of surety, collections, structured trade credit and political risk. Our proprietary intelligence network analyzes daily changes in +80 million corporate solvencies. We give companies the confidence to trade by securing their payments. We compensate your company in the event of a bad debt, but more importantly, we help you avoid bad debt in the first place. Whenever we provide trade credit insurance or other finance solutions, our priority is predictive protection. But, when the unexpected arrives, our AA credit rating means we have the resources, backed by Allianz to provide compensation to maintain your business. Headquartered in Paris, Allianz Trade is present in 52 countries with 5,500 employees. In 2022, our consolidated turnover was € 3.3 billion and insured global business transactions represented € 1,057 billion in exposure. For more information, please visit allianz-trade.com.

Safe Harbor Statement

Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, those risks, uncertainties, and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

CreditRiskMonitor Contact Allianz Trade Contact:

Mike Flum Casey Pelfrey
ir@creditriskmonitor.com Casey.Pelfrey@Allianz-Trade.com
845-230-3037 571-213-4721

SOURCE: CreditRiskMonitor.com, Inc.

View source version on accesswire.com:
https://www.accesswire.com/772967/CreditRiskMonitor-Approved-as-an-Allianz-Trade-Discretionary-Credit-Limit-Qualified-Credit-Agency

FAQ

What is the partnership between CreditRiskMonitor and Allianz Trade?

CreditRiskMonitor has been approved by Allianz Trade as a Discretionary Credit Limit (DCL) report provider, allowing Allianz Trade clients to better manage credit risk.

What information does CreditRiskMonitor provide?

CreditRiskMonitor provides reports on over 30 million businesses worldwide, including bankruptcy risk analytics and trade payment information.

How accurate are CreditRiskMonitor's scores in predicting bankruptcies?

CreditRiskMonitor's FRISK score for public companies and PAYCE score for private companies have high accuracy in predicting corporate bankruptcies.