Frank Jons: chromatic explosions!
He could have ended up as a partner in an auditing firm, but a job interview convinced him to follow his true calling: painting. Interview.
Johan Bierebeeck (GraydonCreditSafe): It’s Not Just the Data, It’s How You Use It
Johan Bierebeeck, Country Director of GraydonCreditSafe, Luxembourg, describes how his company aggregates public data to provide value-added business intelligence to increase clients’ efficiency. He reveals how GraydonCreditSafe assists banks in establishing beneficial ownership and how data provide patterns and linkages that give clients insight into their business partners.
Can you describe GraydonCreditSafe in a few words?
GraydonCreditSafe combines global databases with local intelligence. In Luxembourg, we integrate local data from sources like the Luxembourg Business Register (LBR) with our global database of 200 countries and 340 million companies. There is a wealth of public data available for free on LBR. However, while people can see details about any company, we aggregate all this data to allow specific searches and ratings. The information we collect helps companies understand with whom they are doing business. Knowing your partner, whether a client or supplier, is crucial. We analyze data to provide details about a company's financial health, ownership, and history to help our clients find reliable and trusted partners. Data plays a significant role in corporate compliance. GraydonCreditSafe helps companies gather and update data, keeping them compliant with regulations.
“We ensure companies have reliable and trusted partners.”
Since LBR closed access, how can banks verify beneficial owners?
Since the end of October last year, we no longer have access to the LBR register of beneficial owners. This impacted some of our clients, like banks, who rely on this information for compliance. Banks can access the register but must verify the data. They can't rely solely on what's declared in the register; they need to challenge and verify it with their clients. Banks are often burdened with the responsibility and risks, leading them to sometimes avoid dealing with such data altogether. That's why we're here to help. If every bank did this individually, it would be much more time-consuming. GraydonCreditSafe shares the cost of research among many clients, making it more efficient.
How do your services help companies to be more efficient?
Data is crucial across all departments in a business, from marketing to client onboarding, invoicing, and monitoring changes in company data. That is why automation helps them focus on high-value tasks rather than manual data collection. GraydonCreditSafe’s platform offers credit reports, portfolio analysis, compliance services, and more. The platform provides rich information that helps companies make informed decisions and mitigate risks. With more data, we can learn about patterns and make predictive analyses. Combining local and global data allows us to create linkages and provide comprehensive insights. Knowing the history and connections of directors and companies is invaluable. GraydonCreditSafe’s database reveals linkages and provides rich information that was not available before.