Bits Technology and Coface Announce Strategic Partnership to Enhance Credit Reporting Capabilities

Bits Technology and Coface Announce Strategic Partnership to Enhance Credit Reporting Capabilities

Jun 18, 2024

New collaboration integrates advanced credit reporting into Bits Technology’s platform, streamlining risk management for businesses.

Bits Technology, a leader in customer and business identity solutions, has formed a strategic partnership with Coface, a leading expert in credit insurance and risk management. This alliance will integrate Coface’s advanced credit reporting capabilities into the Bits platform, offering enhanced services to Bits Technology’s clients.

Coface is excited to collaborate with Bits Technology, providing unparalleled credit reporting services directly through the Bits platform. This partnership aims to automate credit reporting processes, significantly improving the user experience for businesses using Bits Technology’s solutions.

Bits Technology offers a comprehensive suite of tools for customer onboarding, AML solutions, and risk assessment, empowering businesses to efficiently manage their identity and compliance needs. With this new integration, Bits customers can now access Coface’s robust credit reporting capabilities within the Bits platform, facilitating informed decision-making and effective risk management.

“Partnering with Coface allows us to offer our customers top-tier credit reporting services, further enhancing the value of our platform. As our client base continues to grow, it is essential to provide solutions that streamline credit risk assessment and support informed business decisions across various industries,” said Jonatan Klintberg, CEO and co-founder of Bits Technology.

Leveraging Coface’s expertise in credit insurance and risk management, Bits Technology will deliver tailored credit reporting scenarios, expand market reach, and provide valuable insights into customer creditworthiness. This integration also underscores Bits Technology’s commitment to maintaining high standards in compliance and risk management.

“We are impressed by Bits Technology’s innovative platform and their dedication to addressing the diverse needs of businesses today. Their solutions have become essential for companies seeking streamlined identity and compliance management. We are excited to support their mission to deliver outstanding user experiences and robust credit reporting capabilities to their clients,” said Pekka Puotunen, CEO Coface Nordics.

About Bits Technology
Bits Technology is a powerhouse in customer and business identity solutions, offering tools for tailored onboarding experiences, AML solutions, and actionable data for risk assessment, fraud prevention, and compliance—all in one view. The Bits Technology platform enables businesses to streamline complex processes and gain deeper insights, ensuring efficiency and compliance in today’s fast-paced market.

About Coface
With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognized provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group' solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2023, Coface employed ~4,970 people and registered a turnover of €1.87 billion.

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