Credit Check
Automated adverse financial checks or credit checks can provide you with a general understanding of how a prospect handles consumer debt.
By requesting credit checks on all applicants who will have direct access to a company’s or client’s finances or who will be able to authorise payments using our automated online credit-related checks, you can reduce the risk of fraud and guarantee compliance.
What is Credit Check?
A Credit Check is an investigation of the financial solvency and credit history of an individual. A person’s credit-to-debt ratio and prior bankruptcies are displayed during an employment credit check, giving employers insight into how a potential hire has handled credit and bill payments in the past. This information is crucial for positions where the employee will be handling or managing money.
When to Conduct Credit Check?
When selecting candidates for positions like financial, accounting, management, and executive level positions where they will be given access to your company’s finances and/or assets. When hiring for these positions, it is necessary to take a more comprehensive approach to the applicant and learn about their credit and financial history. You can determine whether these candidates would be a good fit for a position requiring some level of authority over the company’s finances by learning more about their financial backgrounds. Unbiased information about a candidate’s financial integrity and trustworthiness can be found in our Credit Check reports.
Why to Conduct Credit Check?
There are many benefits to conducting Credit Checks as part of a screening process:
- Reduce the danger to your firm’s finances and employees by getting a thorough understanding of the potential applicant.
- By completing due diligence on all prospective candidates and business partners, you may guard yourself from dishonest and dubious candidates.
- The financial stability of your business is crucial, therefore you must have complete confidence in the staff members who are in charge of its money.
Who should conduct Credit Check?
We think that as part of a thorough hiring procedure, every company should perform Credit checks. Verify the Credit-Debt ratio of your candidates to ensure the security of your company.
When should you conduct Credit Check?
Verifying Credit Records is something we strongly advise doing when interviewing new applicants. This indicates that you have complete faith in their identification and that only the right individuals move on to become employees.
Would you like to find out more about how we identify risk?
You can connect with us through email.