How we work and what we stand for
KSV1870 Information GmbH
KSV1870 Information GmbH is a service provider in the field of risk management and, as a partner to the business community, we provide companies and consumers with high-quality business information. From our roots as a credit rating provider, we have developed into a reliable risk and compliance auditor for a wide range of business processes. Through modern digital services, we facilitate secure transactions, empower our business partners to comply with the laws and regulations, and successfully implement know-your-customer processes. Our business model is based on a symbiosis of automated data and individual research. We aim to intelligently analyse information sourced from a wide variety of data pools at all times using the latest technologies and make this information available in real time.
Business information and its purpose
Als neutraler Vermittler von Informationen liefern wir unseren Kundinnen und Kunden Entscheidungsgrundlagen, die auf Fakten basieren. Damit sorgen wir für Transparenz zwischen allen Beteiligten, vermeiden finanzielle Verluste und identifizieren Wachstumspotenziale. Wir leisten einen Beitrag zu einer Wirtschaft, die für alle Vertragspartner im europäischen Rechtsrahmen ein möglichst fairer Ort ist. Unser Portfolio beinhaltet Risiko- und Complianceprüfungen für sichere Geschäfte entsprechend den unternehmensinternen Risikovorgaben, Potenzialanalysen & bonitätsgeprüfte Marketingdaten zur Kundengewinnung und Bonitätsnachweise für Unternehmen & Konsumenten zur Vertrauensbildung im Rahmen von Geschäften oder Vorlage bei Behörden.
As a neutral information broker, we provide our customers with a fact-based foundation for their decision-making. We do this to ensure transparency between all the parties involved, avoid financial losses, and identify growth potential. Our aim is to help create an economy that is as fair as possible for all contractual partners within the European legal framework. Our services include risk and compliance checks for secure transactions in line with a company’s internal risk requirements, marketing potential analyses, credit-checked marketing data for customer acquisition, as well as creditworthiness certificates for companies and consumers to build trust in the context of business transactions or for submissions to authorities.
Expertise and digitalisation combined
The best of both worlds is our motto. Our business model is based on a successful symbiosis of manual research by our in-house teams of analysts and highly digitized data processing. In other words, quality is based on two secure pillars which, in combination, ensure a particularly high level of quality. Digitalisation has been implemented wherever data flows into the KSV1870 data pools in standardised formats, such as balance sheets and company register information. It has also been introduced to speed up processes so that we can support our customers even better in their business operations. At the heart of the organisation are our expert teams who obtain information personally by contacting the companies directly. They complete existing datasets, scrutinize data, and obtain up-to-date information. Several teams are available for enquiries from companies or consumers. It is this personal contact that makes us an expert organisation and sets us apart.
People, technology, innovation
Our analysts are in constant contact with companies and familiar with the needs of the business community. Based on individual developments, they draw conclusions about economic trends in risk management. The teams funnel their information to product development, which then come up with innovative digital services in response to emerging challenges in consultation with the legal experts – to ensure compliance with data protection requirements. Our products have recourse to information from various KSV1870 data pools, which can only be accessed by the groups of people or companies authorised under data protection law. We use mathematical models to compress information into highly informative key indicators. With the help of data science, PSD2, and business analytics technologies, we are able to provide forecasts for future developments (predictive analytics). When it comes to developing new products, we are increasingly teaming up with partner companies.
Data pools and authorisations
All our products and services generally take their information from KSV1870 databases. Company and consumer data are integrated in the business database (WDB), which contains information on around 670,000 companies and 7.5 million private individuals in Austria. Our ConsumerCreditRecords (ConCR) contains records on all credit relationships with private individuals (more than four million) and helps to ensure responsible lending in Austria. Only banks, lending insurers, and leasing companies based in the European single market have access. Under data protection law, Kreditschutzverband von 1870 is the controller within the meaning of Article 4(7) GDPR and the information point for affected debtors. The warning list of Austrian banks contains credit information on natural persons, in particular payment issues and breaches of contract. Only banks have access. Our CommercialCreditRecords (CCR) is a database which can be accessed by the commercial lending industry. Its purpose is to share negative experiences with individual customers in an effort to avoid payment defaults.
Loans, consumers, certificates of creditworthiness
There is no basic entitlement to credit in Austria, and there is no obligation to enter into contracts. Companies that do business on account or maintain ongoing business relationships expect their business partners (companies and consumers) to provide proof of trust, for example in the form of creditworthiness information. As ordinary merchants, they are obliged to take all the necessary precautionary measures to avoid payment defaults or to obtain information that helps them to comply with legal regulations. Legislators have defined the legal framework – we support companies in implementing and complying with the law. Against this backdrop, we advocate that consumers take a closer look at their own creditworthiness. The required proof of creditworthiness, also known as data subject access report or KSV1870 records statement, have been fully digitalised and can be ordered 24/7 through the KSV1870 website. We are always available for questions and clarifications because transparency and prevention are the pillars of who we are.