About CreditinfoCreditinfo´s predecessor, Lanstraust hf., was established in 1997 and quickly became Iceland‘s leading local credit information provider.
By making both official and unofficial credit related information available to the Icelandic market, the transparency of business transactions improved greatly. An emphasis was placed on further developing products and services to help the business community in making informed business decisions, especially concerning credit transactions or lending decisions. Gathering, processing and distributing credit related information to customers has always been the company’s main priority.
In 1999, the founders sold the majority of their shares to the leading financial companies, such as banks and insurance companies, in Iceland and the new owners have since contributed considerably to the expertise and professionalism of the company. Having studied the situation concerning credit information databases in Europe, including the offered services and availability of data, it became clear that Lanstraust hf. had an evident chance of becoming a strong international player.
Choosing to explore these international opportunities, Lanstraust embarked on their first overseas enterprise by establishing the subsidiary Creditinfo Malta Ltd., the first credit information company to be operated in Malta. The success of setting up the company and the receptions that the subsidiary received strengthened the company’s belief in international opportunities. It became clear that the organizational structure was able to support operations in two relatively small markets.
The Creditinfo Group (CIG) was established in March 2003 by the shareholders of Lanstraust hf., to unite the rapidly growing subsidiaries and partnerships that had been established in 2002 by Lanstraust hf. The new company became the holding company, as well as the centre for know-how and service to subsidiaries and customers.
Since 1997, Creditinfo Group has been among the fastest growing companies in its field. Between 1998 and 2007 the average annual growth rate exceeded 50 %. Since 2003 the company has offered diversified services in the area of credit risk management with information provision as the core of services, including tools for decision making, models and software. The company’s main markets are Central- and Eastern Europe. All of Creditinfo Group core services comply with European Union Directive (95/46/EC) on the handling and transmitting of personal information.