Graydon Creditsafe

Enable financial credit rating monitoring

This article describes how you can activate and use Graydon Creditsafe data on the 3rdRisk platform. To activate Graydon Creditsafe, you need to have a valid subscription. Please contact us if you want to know more about the subscription models.

Graydon Creditsafe

Founded in Oslo (Norway), they are the world’s most-used provider of online business credit reports.
With credit information on over 365 million businesses across the globe, they deliver the most accurate and up-to-date information on financial credit and ownership risks.
All major credit insurers endorse them, meaning their credit scores and limits are one of the most trusted in the industry and can predict 70% of all insolvencies up to 12 months in advance.
With 25 offices across 14 countries, they offer instant access to company credit reports in over 160 countries throughout the world.

Benefits

The Graydon Creditsafe integration offers several benefits for your TPRM process:

Business verification: Verify a company is genuine, and confirm its registered details, address and status.
Financial credit score: See a company’s credit score and maximum recommended credit limit.
Financial performance: Full financials let you understand if a company is growing and stable.
Directors and shareholders: Verify the identity of company directors and perform PEP and sanction checks.
Company ownership: Understand the true ownership of any company and its ultimate beneficial owner.
Key risk indicators: Confirm if your customer or supplier has any CCj’s, late or missed payments.

Activation

3rdRisk platform users with admin rights can activate Graydon Creditsafe in the Integration section.

1. Go to the Integrations page

2. Go to the External ratings tab

3. Go to the Graydon Creditsafe section

4. Insert the provided Graydon Creditsafe username and password

5. Press the Save button.

Enabling/disabling monitoring

After activating Graydon Creditsafe within the 3rdRisk platform, you have to decide which third parties you want to put under monitoring. This usually depends on the number of third-parties that you can monitor within your Graydon Creditsafe subscription. You can enable or disable monitoring of a third-party in the third-party catalogue.

1. Go to Third-parties and then Catalogue

2. Click Edit third-party in the actions column

3. Scroll down to Integrations and click on the search icon

4. Select the right entity that you want to monitor by Graydon Creditsafe

5. Press Save selected company

In the Catalogue an additional column "Financial credit rating" will be added showing the financial credit rating of the third-parties that you have put under monitoring.

Functionalities

The 3rdRisk Graydon Creditsafe integration gives you real-time insight into the financial credit level of your third parties.

Graydon Creditsafe ratings in third-party catalogue
In the third-party catalogue, you will see the Graydon Creditsafe ratings of the third parties that you have put under monitoring. When you hover over the rating, you will see a pop-up with a brief explanation of the rating.

Alerts and notifications
When the Graydon Creditsafe rating drops, you will get an instant notification by the platform's virtual officer. There are two related alerts:

A slight decrease of the financial credit rating of a third-party
A significant decrease of the financial credit rating of a third-party

In both situations, the virtual officer will ask you if you would like to see the Graydon Creditsafe panel. In case of a significant decrease of the rating, the virtual officer will ask you whether an assessment should be initiated to the third-party.