identeco financial health rating system
Financial Rating Indicators
Gold
Companies will be healthy and will have traded for a number of years. They will have financially sound accounts, good payment history and few or no legal notices.
Silver
A stable and healthy company, they will have financially stable accounts, good payment history, and few, if any legal notices.
Bronze
May not have published accounts or are a newly formed company. If accounts are available they would indicate that this business is an average risk with standard payment history and possible legal notices.
Newly incorporated
A newly incorporated business. Health rating cannot be determined due to minimal history.
Alert level low
We recommend you monitor the company due to the detrimental data currently against them. They may have good accounts and standard or poor payment history.
Alert level medium
Serious detrimental data has been identified and close monitoring is suggested. They may still have good accounts and standard or poor payment history.
Alert level high
Serious detrimental data has been detected and a full review of their account status and close monitoring is recommended.
Dissolved
This company has been dissolved by Companies House and no longer exists. Should you be trading with a company in this name you should 1) review your situation immediately, 2) obtain a full disclosure of affairs before entering into any further transactions and 3) ensure you are trading with the correct company going forward.
Not trading
This simply indicates that according to information filed at Companies House the company has a non-trading status. Should credit be sought in the name of the company, care should be taken and a full disclosure sought.
Insolvent
Company has undergone some form of Insolvency. Please check the full record.
Pre-insolvency
A company that may imminently become insolvent. The company is in debt and required to notify the court that they are in a situation of insolvency and that they have begun negotiations with creditors.
Strike-off
This company is removed or 'struck off' the Companies House Register. Once the company is removed from the register, it ceases to exist and can no longer trade, make payments, or sell assets.
identeco, working with RFA, has implemented a proprietary, contemporary financial health scorecard. It is created based on unique financial rules based on decades of UK macroeconomic insolvency experience, together with a highly sophisticated credit limit calculator.
RFA is one of the UK's leading suppliers of credit scoring and decision-making systems that are built with integrity, using internationally recognised methods for the analysis of financial statements and business attributes, by means of scientifically proven predictive models, delivering realistic credit limits for businesses that meet the minimum criteria of fairtrade credit risk.
Credit scoring is based on the assumption that past experience can be used as a guide in predicting creditworthiness and the process of developing a credit score generally relies on the analysis of historical data and or, the experience of credit risk professionals.
A well-balanced scorecard, such as that built by RFA will predict up to 80% of failures from around 20% of the business universe.
A company report from our Business Support Toolkit will include a financial health rating for you to review and assist your credit decisioning process.
Use this information in conjunction with identeco's Account Monitoring and automated alert service to see how we can put you in the driving seat: making sure you understand your customer's financial stability with up-to-the-minute information on changes to your customers.
For more information about the identeco-RFA credit scoring system, click here or contact us today.
What our customers say
The team at identeco have been a pleasure to deal with and have gone above and beyond to deal with our bespoke needs. They have enabled us to improve our business strategy and make us feel more comfortable in the businesses we are trading with. I would not hesitate to recommend their services to any business that require such piece of mind when trading in the B2B market space. We look forward to being a valued client for many years to come
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CFS Representative Senior at FedEx Express UK LimitedI've used identeco several times now and it's provided me, as a freelance Social Media Manager, with a huge amount of reassurance when considering taking on new clients. I've been able to check their financial status and I can be pre-warned if they don't have a favorable payment history!
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Managing Director at Modus Agencyidenteco is a great platform for any business. It provides a great service and at a great price. We were slow to start but now use the service at least once a day. The team even set up a free training session to ensure we get the best from the software.
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Managing Director at Hayward MillerVery good
EU Radici Ltd
Fantastic Product. For the price, I had a slight reservation as to how helpful this was going to be. I should NOT have been worried - 5 Stars and an Excellent Product!
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Rebecca
Legal Clerk at Ward HadawayI have used the service on a few occasions to check out businesses details and have been impressed by their service and how thorough the details are. With one particular company highlighted to me that it was not safe to do business with them - so it made me think twice about engaging them. Their customer service is excellent too and all the staff are extremely helpful if you get stuck.
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Social Media Manager at Sadie Skipworth Social MediaExcellent, friendly service with fast turnaround of the results. Just what I was looking for!
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Senior Research Executive at Scott Porter ResearchBeing able to obtain information in one place saves time, and the fee charged on an annual basis is cost effective.
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Managing Director at Debt Solve UKThe portal has become an intrinsic part of our account opening process; giving us the ability to understand credit terms for our customers and set them accordingly. For the price, it's become invaluable to our business.
Oliver
Sales Director at CJUK
