Company - "Carrying the tradition of a non-profit organisation"
The progressive development of the Greek economy and the banking system have led the Greek Banks to realise the need of accessibility of reliable and accurate credit related data; It had gradually become clear that such information contributes to the protection of credit financial Institutions and to the reduction of risks from insolvency, for the benefit of the banking system and of clients themselves. Therefore, the quasi totality of Greek Banks proceeded to create a company under the name "Tiresias" that was entrusted with the development and the management of a reliable Credit Profile Databank.
Tiresias was initially founded as a non-profit organisation. Since September 1997 it operates as a joint stock (SA) company, yet it fully maintains the philosophy of a genuine non-profit organisation while at the same time securing the necessary preconditions for its further development.
Today, Tiresias SA specialises in the collection and supply of credit profile data about corporate entities and private individuals and the operation of a risk consolidation system regarding consumer credit. Additionally, the company develops interbanking information systems and provides information and communication services to the parties directly concerned.
Shareholders - "Pure interbanking character"
Tiresias SA is an interbanking company; Only credit institutions and their subsidiaries which are active in leasing, factoring, or in the management of consumer credit products and payment means on behalf of the mother institutions, can become shareholders.
The shareholders of the company include the major Greek Banks.
Mission - "In the service of Credit and Public Interest"
The development and operation of information systems aiming at:
- promoting and safeguarding the statute of credit provided by banks
- supporting reliable transactions and consequently the smooth functioning of the market.
- contributing to the reduction of insolvency risks to the benefit of the banking system and its clients.
- contributing to the prevention and detention of fraud in banking transactions and in transactions related with credit cards.
The management and provision of products and services produced by its information systems.
Operating Principles - "Consistency and Responsibility"
In compliance with its philosophy Tiresias SA attaches utmost importance to assuring the accuracy and reliability of data stored in its systems; Thus, it can serve its mission: to contribute to the protection of bank credit, support reliable financial transactions, as well as to safeguard the citizens' rights.
In order to accomplish its mission Tiresias SA, being fully aware of the importance of its service of public interest and of the necessity of the strict implementation of its Data Processing Regulation (DPR), strictly abides by the following operational principles:
- Absolute transparency of the operational principles of the Database and their strict application thereof.
- Full assurance of the objectivity of the Database the access to which is controlled by security mechanisms.
- Respect and protection of civil rights and provision of all possible assistance to interested parties for exercising their rights as defined by law regarding personal data
- Provision to the receivers of data that is characterized by objectivity and precision