identeco, working with RFA, have implemented a proprietary, contemporary financial health scorecard. It is created based on unique financial rules based on decades of UK macroeconomic insolvency experience, together with a highly sophisticated credit limit calculator.
RFA are one of the UK’s leading suppliers of credit scoring and decisioning systems that are built with integrity, using internationally recognised methods for the analysis of financial statements and business attributes, by means of scientifically proven predictive models, delivering realistic credit limits for businesses that meet the minimum criteria of fairtrade credit risk.
Credit scoring is based on the assumption that past experience can be used as a guide in predicting credit worthiness and the process of developing a credit score generally relies on the analysis of historical data and or, the experience of credit risk professionals.
A well-balanced scorecard, such as that built by RFA will predict up to 80% of failures from around 20% of the business universe.
Each and every limited company report from our business support toolkit will include a financial health rating for you to review and assist your credit decisioning process.
Use this information in conjunction with identeco’s Account Monitoring and automated alert service to see how we can put you in the driving seat: making sure you understand your customers financial stability with up to the minute information on changes to your customers.
GOLD: Companies will be healthy and will have traded for a number of years. They will have financially sound accounts, good payment history and few or no legal notices.
SILVER: A stable and healthy company, they will have financially stable accounts, good payment history, and few, if any legal notices.
BRONZE: May not have published accounts or are a newly formed company. If accounts are available they would indicate that this business is an average risk with standard payment history and possible legal notices.
AMBER: Indicates businesses that have passed the lower threshold of the credit score algorithms and are either very new or display some financial, payment or filing characteristics that make them an elevated risk. They should be treated cautiously and all monitoring notices reviewed carefully.
1 RED FLAG: We recommend you monitor the company due to the detrimental data currently against them. They may have good accounts and standard or poor payment history.
2 RED FLAGS: Serious detrimental data has been identified and close monitoring is suggested. They may still have good accounts and standard or poor payment history.
3 RED FLAGS: Serious detrimental data has been detected and a full review of their account status and close monitoring is recommended.
INSOLVENCY FLAG: Company has undergone some form of Insolvency. Please check the full record.
NOT TRADING: This simply indicates that according to information filed at Companies House the company has a non-trading status. Should credit be sought in the name of the company, care should be taken and a full disclosure sought.
DISSOLVED: This company has been dissolved by Companies House and no longer exists. Should you be trading with a company in this name you should 1) review your situation immediately, 2) obtain a full disclosure of affairs before entering into any further transactions and 3) ensure you are trading with the correct company going forward.
BUSINESS DISCONTINUED: This business has been discontinued.