Beltone Capital, CRIF sign agreement to cooperate on ESG scoring, credit rating, and business information

Published on October 12, 2023

Beltone Capital, a wholly owned subsidiary of Beltone Financial Holding, has signed a framework agreement with CRIF, a global company specializing in credit and business information systems, analytics, outsourcing, and processing services, as well as advanced digital and open banking solutions for business development. The agreement covers potential cooperation in Egypt and the MENA region on ESG scoring, credit rating, data science and analytics, and business information.

The agreement aims to create value for consumers, businesses, and financial institutions by providing information and solutions that enable more powerful decision-making, improve access to credit, and accelerate digital innovation. The agreement also aims to provide support and value-added solutions tailored to the distinctive characteristics of the local market, especially in the SME segment.

Carlo Gherardi, Chairman and CEO of CRIF, commented: “We are delighted to be partnering with Beltone Capital. This is an important step for us in consolidating CRIF’s presence in the market, which will benefit from our global expertise in consumer finance and business information.”

Ibrahim Safwat, Beltone Capital CEO commented: “Beltone Capital’s investment platforms rely on data-driven fundamentals and modern financial technologies. This partnership with CRIF is another step towards solidifying our plans in making sound investment decisions across various industries.”

Beltone Capital is the direct investments arm of Beltone Financial Holding. Beltone Capital channels investments in technology, food and agribusiness, real estate, infrastructure, and exporting industries. Beltone Capital is dedicated to developing data science solutions and providing a cognitive interpretation of statistical models across industries.

CRIF is a global company that offers fraud prevention and cybersecurity services to consumers and SMEs. Furthermore, CRIF Ratings, a credit rating agency authorized by ESMA and recognized as an ECAI, provides ratings on non-financial companies based in the EU. CRIF is also an AISP and PISP in all European countries where the PSD2 directive for open banking is applicable, and an AISP in the UK. Founded in Bologna in 1988, today the company operates in 40 countries across 4 continents, with over 6,000 professionals.

Source: Zawya / Daily News Egypt

Source: Press release