BARS now

A credit decision in the business area without considering the financial statements of a customer is almost impossible. The credit law (KWG) makes this even mandatory for items over € 750.000.

The GEFA has picked an innovative way to implement this important check. For credit decisions the GEFA uses the credit decision system KM3, for the statement analysis BARS since 2006.

Both applications use SOA (service-oriented architecture) consequently and are therefore able to connect easily with each other.

With this connection, a lot of processes which made it necessary to check financial statements manually could be automatized.

KM3 allows, straight out of the running credit process, to:

• retrieve and display the financial statements of a customer,
• check whether the financial statements are up-to-date and in a final and checked state (KWG §18)
• apply important statement (key) data, like net-assets ratio and debt rate into the running credit process
• pass over current statement key data to the GEFA-rating and print out the required statements

These functions run automatically in the GEFA since the introduction of KM3. All required data is known in both systems and without user-interaction evaluable.

The credit processing has been accelerated with the integration. Dropping off the manual process steps improves the decision quality and thus, help to reduce possible errors.

Contact person: Claus Hoffmann; choffmann@s-und-n.de