Middle East and North Africa Markets, even if there are some differences related to countries, are presenting a highdata friction. It means process related to collection and updating data related to companies is in general complicated both in term of rules related to registration, public bodies in charge and data availability itself.
Even if at different level, public data sources act at local level only without any connection each other and with central department collecting all national data playing a very limited role. Different Chamber of Commerce or Courts located in a specific province or town, aren’t connected with same bodies located in other provinces or town. It means than find out a company isn’t an easy task and requires an in depth knowledge of processes and territory. In some countries or area, economic entities operate following Islamic law instead of secular, as well as some others are acting informally without any registration or taxation process in place.
Financial data availability is very poor as no laws are in place about mandatory registration or only listed companies are obliged to file balance sheet in public sources.
Level of digitalization is quite limited, even if some countries have more robust processes in place. A common point basically for all countries, is related to the fact that updating of companies registries isn’t automatic but a manual flow is always required.
It’s clear that with little publically available of companies data and very limited on-line accesses, subject itself must be a data source if keen to disclosure information like registration details, company structure or financial details.
In addition, political tensions and economic turmoil must be taken into account when a Credit Report is required to assess a business partner.
SkyMinder, having in mind this scenario, is exploiting the combination between CRIF companies and the best local provider perfectly matching the highest quality standard required by the markets on all companies in Middle East and North Africa are, without any exclusions. Every economic entity acting on the market, regardless legal form or other firmographic indicators related to its dimension, can be requested via SkyMinder. Credit Report is produced thanks to a fresh investigation flow leveraging on official and unofficial sources and local data. Thanks to this accurate and high quality process, also evaluation data like rating and credit limit are available to best assess the company creditworthiness.
In a country where economic and political conditions are mutable, is also important to have an overview on how a company is changing over the time. This is why via SkyMinder is possible to combine to reports also Planned Revision, a service able to verify periodically is something new is affecting company. This is a very powerful tool to understand how a business partner is acting in a scenario where data collection isn’t automatic and based a very critical flow.
Economy and companies are more and more interconnected with business in different continents: it’s now important understand company structure and shareholding. Thanks to KYC Report, available in a limited number of countries, is possible to obtain information via SkyMinder. Also financial crimes, d bribery and corruption, terrorism are topics to take care when evaluate a company, both in term of risk management and reputation. In this case, SkyMinder has a double offering with two products, Compliance Check Report and Extended Report, able to verify if company required or shareholders and principals are connected to financial crimes.
Finally also Cyber Risk can be underlined using KYND Cyber Risk Report in a complex evaluation process.
Even if Middle East and North Africa are presenting high data friction, via SkyMinder is possible to obtain products based of high quality level and updating thanks to CRIF companies and local partnerships strictly connected to the area.
