SCHUFA Holding AG, a leading service provider for credit information in Germany and Creditinfo Group hf., a leading provider of risk management solutions in 11 European countries, are to combine their competences in a joint venture in the future.

In this new enterprise, the companies will offer credit information services and data on creditworthiness as well as value added services such as software solutions throughout most of Europe in the short-term.

The name of the new company is Creditinfo SCHUFA GmbH and the company will be located in Wiesbaden/Germany. This decision was made by the Supervisory Board of SCHUFA Holding AG and the management of Creditinfo Group.

“In a world that is becoming more economically linked, it is strategically consistent for SCHUFA to use its competencies across borders and expand its business activities. With the internationally experienced partner Creditinfo Group at our side, I see tremendous potential for successful cooperation in the new joint-venture business model in the years to come,” explained Dietmar P. Binkowska, chairman of the Supervisory Board of SCHUFA Holding AG. SCHUFA’s chief executive officer Rainer Neumann added: “With the combination of SCHUFA’s industry and product experience and the broad geographic alignment of Creditinfo Group, we will be able to provide our services to customers all over Europe.”

Reynir Grétarsson, chief executive officer of Creditinfo Group hf. explained: “It is significant that a respected leader in credit information is partnering with us; it is surely an endorsement of our contribution to providing quality risk management solutions to our customers, and the ethical and innovative manner with which we conduct business. For Creditinfo, SCHUFA is surely the partner of choice.”