:: Tiresias :: Public Benefit

Balance Sheet 2012

Check your application status (in Greek)

All citizen services are FREE

Home Page

Public Benefit

The correct estimation of the solvency and the financial credibility of the clients of banks contribute to the decrease of the bad debts resulting to the decrease of cost of loans and of the citizens debts
The limitation of transaction frauds protects those that engage in a transaction and enforces their trust against the market
The database of lost/stolen ID cards/passports and terminated merchant contracts for credit card acceptance contribute to citizens' protection and of those that use credit cards
Proper assessment of financial credibility and credit worthiness supports the reduction of over-indeptedness

INTERNATIONAL EXPERIENCE

TEIRESIAS SA is one of 45 credit bureaux operating in Europe. Worldwide research analyzes the contribution of Credit Bureaux in the economy and in the financial transactions. Some of the findings are presented below:

Benefit	Source
The economic behavior databases improve the provision of credit and contribute the cost reduction for the consistent payer.	- Decision of the court of the European Communitie -Green Paper EC [page. 8]
Databases like TEIRESIAS support the solvency check and rating	E.U. -Directive consumer credit
Almost in all EU countries operate offices that store and process financial behavior data. In some cases the use of these offices in credit provision by lenders is compulsory	European Commission [page. 68, 69]
Data for financial behavior contribute to responsible lending	European Commission [page. 7] [page 75]
The use of historical data reduces the default rate	-Directive 2006/48/EK -European Commission Research on competition
TEIRESIAS helps to avoid over-indebtedness, reducing defaults and reducing interest rates.	From the administrative report of Bank of Greece for 2005 (page. 230)
Better information leads to more grants	-World Bank Survey [page. 9, 12]
Offices that store and process financial behavior data support the increase of credit and a simultaneous reduction of defaults.	Study J.M. Barron (Purdue University)- Μ.Ε. Staten (Georgetown University) [page 20,21]
Offices that store and process financial behavior data helps reduce the financial constraints in small and businesses.	Presentation-World Bank [page 6]

Back to top

Terms and Conditions