STS, leading IT company in Jordan, announced the signing of an agreement with CRIF, a global company specializing in credit solutions.
Online PR News – 21-November-2015 – Amman, Jordan, November 20, 2015 – The agreement is part of the project to bring the first private credit bureau to Jordan, which is expected to be up and running by the end of 2015.
The CRIF Jordan credit bureau will bridge the gap in credit demand in the country, extend it to more segments of society, as well as further support the growth of loans and mortgages. The signing of an agreement between STS and CRIF, the developer of the credit bureau, is evidence of the leading role that STS has established in the Jordanian market.
The experience and successful track record of STS prompted CRIF to select STS as the solution provider for the Jordan credit bureau data center. STS will be responsible for providing the credit bureau data center infrastructure.
The data center will enable the credit bureau to manage positive and negative credit information sent by Jordanian institutions through an advanced technology platform, which will integrate all data into a single report.
As a result, an increased number of Jordan’s consumers and businesses will be able to access financial services and obtain more favorable loan conditions, while on the other hand, lenders will be able to access borrowers’ credit history, confidently evaluate credit risk, and make lending decisions more quickly.
And from his side, the General Manager of CRIF Jordan, Mr. Ahmad Amoudi, commented: “We are satisfied with the decision, knowing that STS is a reliable technology partner with thousands of successful projects completed in the region. I am confident that the quality of service will be of a global standard.”
Commenting on the agreement the STS Sector Lead of Banking, Financial Services and Insurance, Mr. Ahmad Busila, said: “We are proud of being selected to partner up in such a breakthrough project with CRIF, and due to the many benefits it will bring to the Jordanian market, we strive to make the credit bureau a success by integrating the STS and CRIF capabilities”.