In the "Knowledge" section, we have compiled a glossary for you on the topics of risk and receivables management, e-commerce, payment and payment protection.
SCHUFA (Protective Association for General Credit Security - Schutzgemeinschaft für allgemeine Kreditsicherung) is a private enterprise established as a common resource by the banking industry to grant credit. SCHUFA functions as a source of information for businesses to protect them against receivable default. The data is either collected directly by SCHUFA or reported by various contractual partners. In addition to master data about a person / a company, Schufa collects information about applying for and terminating credit services, and about payment patterns. In addition, the data collection for various scoring algorithms incorporates credit infractions and requests for credit as well as details from public directories, such as arrest warrants or insolvency proceedings and other characteristics. A probability value for a potential non-payment is determined based on this by employing a mathematical/statistical algorithm.
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