To streamline and improve the quality of how company information is gathered, Eika Gruppen has now signed a framework agreement with Enin on behalf of the banks in the alliance.
-This will make it considerably more efficient for the banks to establish customer relationships, especially Know Your Customer processes. At the same time, tests show that it is a powerful tool for monitoring portfolios with a view to credit risk and compliance-related events, says Kristian Sundal-Thoresen, Director of Corporate Banking at Eika.
Over several months, selected Eika banks have tested Enin's solution. For Jæren Sparebank it has proved highly useful in helping to solve tasks that were previously time-consuming and complex.
-Enin has a far more user-friendly solution. We use it for things like portfolio cleansing, monitoring, looking up customers and prospects, and organization charts, says Frode Flesjå, Head of Corporate Banking at Jæren Sparebank.
With Enin, the Eika banks can access comprehensive company analyses, early warning signals and risk assessment based on machine learning when they review new and existing corporate customers. The new partnership will give the banks better and more up-to-date information when assessing the risk of their corporate customers.
-It means a great deal that Eika has put its stamp of quality on us, says Co-founder and CEO Paul I. Huse. -We are clearly on the verge of a breakthrough in the banking market. Using last year's financial statements is no longer enough when you need to know your customer.
