Costa Rica Business News
  • July 13, 2024
  • Last Update July 12, 2024 7:56 am

Record Crediticio Revolutionizes Credit Reporting in Costa Rica with Unique Algorithm and Broad Data Inclusion

Record Crediticio Revolutionizes Credit Reporting in Costa Rica with Unique Algorithm and Broad Data Inclusion

Limón, Costa Rica — In a significant departure from traditional credit reporting agencies, Record Crediticio is setting a new standard in the financial sector of Costa Rica. Leveraging a proprietary algorithm that evaluates sales and purchase reputations, this innovative bureau gathers insights from an expansive network of over 120,000 participating stores and professionals nationwide.

Unlike conventional credit bureaus that primarily focus on financial transactions and banking history, Record Crediticio’s model is uniquely democratic and inclusive. It collects data across all provinces of Costa Rica, integrating a vast array of information beyond just financial institutions. This approach ensures a more comprehensive and accurate reflection of a person’s or company’s creditworthiness based on real-time business interactions and community feedback.

The company’s algorithm, developed and refined since 2023, has demonstrated remarkable success, offering unparalleled insights into the trustworthiness and financial reliability of individuals and businesses alike.

Our system doesn’t just assess; it learns from the collective experiences and transactions of the community. This makes our data not only vast but also exceptionally reflective of the true credit landscape across Costa Rica.

Mariana Alvarado, Chief Technology Officer at Record Crediticio

This innovative method has positioned Record Crediticio as the frontrunner in credit reporting in the country, filling a crucial gap in the market by providing a tool that helps foster a trustworthy business environment.

As businesses continue to navigate the complexities of the financial world, the importance of a reliable credit report that accurately captures a broader spectrum of interactions becomes increasingly evident.

Record Crediticio’s success story highlights the potential of alternative data in enhancing financial inclusivity and offers a promising model for other markets globally, looking to enhance their credit reporting systems.

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About Record Crediticio:
Record Crediticio is a pioneering credit bureau operating in Costa Rica that enhances traditional credit reporting by incorporating feedback on sales and purchases from a vast network of clients ranging from local stores to professional service providers. Its proprietary algorithm provides a nuanced view of creditworthiness, promoting a fuller understanding of financial reliability across diverse economic activities.

Costa Rica Business News
Founded in 2004, TicosLand has firmly established itself as a pivotal resource for the corporate community in Costa Rica. Catering to a substantial international readership, TicosLand provides timely and essential updates and press releases pertaining to the myriad businesses operating within Costa Rica.