B2B Payments

Credit2B Launches Real-Time Business Risk Analysis Tool

Commercial credit risk solutions provider Credit2B is rolling out a portal for trade credit suppliers to share and access information about B2B payment experiences in real time.

The company said Wednesday (Feb. 14) that it has launched the Credit2B Global Platform, which aggregates data of 250 million businesses across 225 countries, enabling suppliers to access key information about payment experiences, receivables metrics and trade references to analyze trade credit risk. The portal includes information from financial reports and public filings, the company said.

After collecting that information, Credit2B automatically generates a credit score to analyze the financial strength of a company.

"We are now a truly one-stop global platform," said Credit2B Chief Product Officer Kavita Singh. "Our vision has been to connect suppliers so they can share trade experiences virtually in a safe and seamless way. This is going to help our clients take on customers around the world with one source that they have come to trust."

The company stated that other solutions to assess trade credit risk typically include data sources only from local information, making it difficult for suppliers to analyze buyer risk across borders. Bonnie Gerrity, Credit2B Vice President Solutions and Chief Credit Officer, added, "We want trade suppliers in any part of the world to know the underlying payment patterns of their shared, but at-risk customer, that may be based in a totally different country."

FinTech has targeted trade credit risk in several ways in recent years. Last October, startup Tinubu Square raised $62 million for its trade credit risk solution for credit insurers, trade finance banks and export credit agencies.

Euler Hermes, meanwhile, has expanded its trade credit insurance offerings to include SMBs and most recently partnered with MarketInvoice to integrate its insurance offering to help suppliers protect against the risk of non-payment.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.