2006-11-29

On 29 November Finaref put EMRIC’s KreDirekt system into production to process credit applications automatically. The rollout in Sweden, Finland and Norway will span a period of a couple of months. While delivering the system, Emric also developed a scorecard (regulatory framework for decision making) for Finaref’s markets. The combination of the system and an in-depth knowledge of the finance market were crucial factors in Finaref’s selection of EMRIC as a partner.

Finaref is headquartered in Sweden and has subsidiaries in Norway and Finland. The principal owner is Crédit Agricole SA, the second largest bank in France. Crédit Agricole SA operates in 60 countries and has around 105,000 employees. In close cooperation with Redcats Nordic’s e-commerce operation, Finaref offers financial services to private individuals. Redcats Nordic encompasses the brands Ellos, Josefssons Josefine, La Redoute, Enjoy and Catalogue Mail Outlet.