TRIESTE, Italy, May 19, 2016 /PRNewswire/ --
Big data now allows a company's rating to be assessed even when there is no access to financial data. And modeFinance is the first ratings agency to introduce a technology that can analyse credit risk without the need to look through balance sheets, where they are available.
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The proprietary method is called MORE (Multi Objective Rating Evaluation) and was publicly presented during FintechStage, one of the most important events in Europe in the field of fintech - a mix of finance and technology. The company from Trieste, which is based in the Area Science Park, is now able to rate over 200 million companies, effectively every company in the world.
modeFinance, which since 2015 has been registered as an international credit agency in the corporate sector by the European Securities and Markets Authority, ESMA, has identified the factors that can be considered essential and indispensable drivers in analysing credit risk in the absence of financial data. The structure of the company, the commodities it works with, the country it is from and the background of the management team are some of the dozens of variables examined in this complex data-mining work.
"There are two key factors in economic competition: transparency and global outlook," say Valentino Pediroda and Mattia Ciprian, the founding partners of modeFinance. "For us, the first point is a must: a rating which is not transparent and independent cannot be part of the market. The second is a competitive factor: financial players now work with all companies, without territorial or size limits and the ratings agencies have to be able to assess every situation."
modeFinance is an international credit rating agency registered with the European Securities and Markets Authority, ESMA.It was founded in 2009 by Mattia Ciprian and Valentino Pediroda, as a spin-off from the University of Trieste and with headquarter in Area Science Park, Trieste. Stemming from the idea of applying the use of Big Data to finance, modeFinance is Europe's first fintech ratings agency. Using its proprietary MORE methodology (Multi-Objective Rating Evaluation), modeFinance can provide assessments of over 200 million companies in over 200 countries around the world. The share capital is 57% held by the founders, and the other 43% by the Corvallis Group, which paid 1.3 million Euros for the stake in 2015.
For further information:
+39-040-3755337
info@modefinance.com
http://www.modefinance.com
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