What kind of key data do we provide?
- Credit Behaviour Data:
Defaults and Mortgage Prenotations: bounced cheques, unpaid bills of exchange, payment orders, bankruptcies, auctions, mortgages etc.
Credit consolidation: non-overdue and delinquent debts from loans and any type of credit, cards, letters of guarantee and letters of credit
- Termination of business contracts regarding card acceptance
- Lost & stolen identity cards & passports
- Business Information: notifications from GEMI, Balance Sheets etc.
Where does the data originate from?
The data we provide, depending on the category they belong to, are collected from various sources, such as:
- Credit and financial institutions
- Ministry of Finance
- Magistrate’s courts, Courts of First Instance
- Administrative Courts of Appeal
- Land Registries & Cadastral offices
- Auction publication website
- OGG - GEMI
Who is the data provided to?
To recipients of Tiresias’ systems and services, depending on their activities and the licence granted to them by the Bank of Greece. These may include:
- Credit Institutions
- Financial Institutions:
Factoring companies, leasing companies, card issuing and management companies, credit companies, loan and credit servicing firms, payment institutions and electronic money institutions that provide credit, and microcredit institutions.
- Public sector bodies
Key services we provide to credit and financial institutions
- Credit Scoring System TB Score
Through the TB Score Behaviour Credit Scoring System, financial institutions can request and receive the behaviour credit scoring of their debtors/clients, in order to assess the credit risks they have undertaken and their default probability over the next twelve (12) months.
- Statistical Data Analysis Reports
Within the framework of this service, credit and financial institutions receive reports with comparative weighting indexes of their loan portfolio in relation to that of all other institutions (following a statistical analysis of the data kept in Tiresias Register) and indexes regarding any changes to their allocations compared to all other institutions, by approval period.
- 24/7 access to the Tiresias records
Through the 24/7 service, credit and financial institutions can access aggregate information from pre-agreed records kept by us, through Α2Α messages, 24 hours a day, 7 days a week.
Our goal is to provide the above-named institutions with uninterrupted access to credit behaviour data, thus facilitating their operations in the new era of digital banking services, such as digital credit provision.
Tiresias, responding to the needs created by 24/7 online shopping and new forms of financing, created the Tiresias Smart Check service. The new service is addressed to financial institutions that follow the Buy Now - Pay Later model and provides financial behaviour data for prospective borrowers according to the needs and the credit assessment model followed by each institution, per transaction. The information is transmitted automatically and securely 24/7 via API, contributing to immediate and better service of each institution's customers.
- New Service - Tiresias Transactional Score
The Tiresias Transactional Score service can support any financial institution in the alternative assessment of the creditworthiness of individuals and companies, using their transactional data.
It is an Open banking solution established by the revised Payment Services Directive (PSD2), enabling a valid credit assessment in cases where there is insufficient data, such as new prospective borrowers who do not have an existing banking relationship. Through the service, it is possible to create a credit score of the customer's transaction data, by retrieving, collecting and processing them, provided that the customer gives his/her consent for the use of the data in a specific transaction with the financial institution.
- Electronic Communication with AADE & EFKA
Tiresias operates as an electronic communication hub, by forwarding the messages exchanged between the General Secretariat/Independent Authority for Public Revenue & EFKA and financial entities.
The relevant service enables the control of accounts held and the “service” of attachments through an electronic procedure, in the context of the enforced recovery of public claims.
- Data provision in collaboration with ACCIS for the purpose of credit & solvency assessment
Within the framework of the bilateral agreements between the members of the European organisation ACCIS (Association of Consumer Credit Information Suppliers), of which Tiresias as a credit bureau is a member, credit and financial institutions are given the ability to obtain credit behaviour data from foreign credit bureaus, so as to assess the creditworthiness and solvency of the persons to whom such data refer. In order to search for and use the foreign credit bureau’s data, the financial institution must obtain the prior express written consent of the persons to whom the data relate. Cross-border data exchanges between credit bureaus are only possible within the EU under the GDPR.
- Communication channels – New possibilities
The data per file are provided to the financial institutions through specific channels. More specifically, data extraction is implemented in the following ways:
- 3270 Online System
The 3270 Online system aims to provide accurate and timely information to entities interested in the data supplied by Tiresias.
The information is extracted through specialist users, who have access to the system.
- Α2Α MQSeries
The purpose of the Application to Application through MQSeries On-line is to enable automated (through electronic messages) communication between the applications used by entities and the Tiresias system, in order for them to search for data from specific Tiresias records.
The search for information through the MQSeries application takes place through the exchange of asynchronous messages, which have been configured to meet the operational needs of the relevant entities.
The messages are exchanged in accordance with particular specifications, which can be adapted to the entities’ platforms after configuration. The message sourcing is conducted by specialist users of the entity.
- Α2Α WebApi
A new communication channel now provided by us to all entities. This application ensures the automated (in JSON format) communication of the entities’ applications with the Tiresias system, in order to conduct a data search from specific Tiresias records.
The data search is completed using specially predefined messages which, after the completion of the relevant data by authorised users of the entity, are sent as queries to Tiresias.
- What you gain from using our systems and services
By using our systems and services, financial institutions are able to:
- Assess the solvency of their clients
- Assess the creditworthiness of their clients
- Be informed about & protected against credit risk
- Ensure a secure trading environment for their clients
- Enjoy access to timely, easily-sourced and accurate information for the identification of their traders
- An indicative example of the benefits of connecting to Tiresias and using our services
A financial institution that is assessing an application by a natural or legal person for a loan, by “monitoring” their current behaviour on existing loans, can gain a direct insight into their creditworthiness and evaluate the probability of default.
- Protects both the applicant-client from over-borrowing, and the institution, by preventing risk-taking through credit risk assessment.
- Helps the institution provide loans on better terms to clients with a high score & a consistently positive transactional behaviour.
- Allows the Institution to monitor and assess the portfolios of its clients.
- Data on Bounced Cheques – Unpaid Bills of Exchange