From January through to August 2014, our data analysts conducted research and analysis in order to build a new algorithm that better reflects the current economic climate.
Company Check launched this new algorithm during the last weekend of August 2014.
The upgraded algorithm affected most active companies, factoring in even more information and detailed analysis, to provide you with a clearer picture of a business's performance than ever before.
By combining additional credit risk factors with what we already know means that we can continue to provide you with the most up to date, predictive, credible and reliable business insights.
Credit scores have decreased by around 9 points on average, largely due to the introduction of new data sets such as payment performance. Despite this more companies are classed as credit worthy due to a reduced number of businesses becoming insolvent over the last 12 month period.
The majority of Credit limits have increased by £85,000 on average across all companies to match the current economic climate (previously conservative limits were based on analysis carried out during the recession). The largest increases in credit limits will be for medium and large companies.
With over 2 million customers using Company Check every month to carry out due diligence, we believe that in order for you to continue to make informed decisions we must provide you with the most up to date scoring available on the market today.
We are always investing in new data to enhance our algorithms and ensure you are always one step ahead in knowing exactly who you are dealing with.