Cortera Circles™ Recreates Century-Old Practice
of “Credit Roundtables” Online
P2P tool for businesses to exchange real-time payment info unveiled at FinovateSpring 2010
FinovateSpring 2010
May 11, 2010 08:10 AM Eastern Daylight Time
SAN FRANCISCO--(EON: Enhanced Online News)--Cortera®, the community-driven business credit bureau,
today announced the launch of Cortera Circles™-- a new peer-to-peer (P2P) credit risk and payment information
tool for finance and credit professionals to share data in real time.This new platform for business-to-business (B2B)
risk management, which recreates the century old practice of “credit circles” as an online experience, is designed to
tear down barriers that to date have limited companies’ ability to assess credit risks for small, mid-sized and even
large businesses.The announcement was made today at FinovateSpring 2010, the financial technology innovations
conference in San Francisco, in a presentation by Cortera President & CEO, Jim Swift.
“The B2B credit market needs to evolve to a P2P model for risk management and finally say goodbye to the 1970’s
centralized information broker,” said Swift.“In bringing the trusted tradition of ‘credit circles’ into the online world,
Cortera is creating a new and more efficient paradigm for different companies, even competitors, to exchange vital
payment information on their customers and suppliers.”
Cortera’s Web-based technology is built to provide the full range of business intelligence and financial information
that companies have come to expect. The company’s solutions provide new capabilities and cost savings for large
enterprises, while providing small businesses with solutions they can access and afford.
“While Dun & Bradstreet introduced electronic credit reports for business in 1972, there unfortunately hasn’t been
sufficient innovation in the business credit reporting industry since then,” Swift continued. “We aim to change that and
are tapping the ground swell of information, statistics and anecdotal