The digital, meaningful and forgery-proof alternative to the debt enforcement extract
The predicate 'new' is given a lot today. However, real innovations trigger radical changes. And are accordingly rare. This is exactly what the new CreditTrust certificate has had in the Swiss real estate market. The digital alternative to the debt enforcement extract is quick and easy to obtain, much more meaningful and at the same time forgery-proof. CreditTrust was developed from a cooperation between the leading credit agencies Intrum and CRIF as well as the blockchain specialist Certifaction and has made it into the narrow circle of nominees for the Real Estate Award 2021.
There is an enormous amount of dynamism in the real estate market. The apartment carousel also rotates correspondingly quickly. Supply and demand find each other easily and directly via digital platforms. Because the web clearly shows what the rental property has to offer. In the further process, however, the creditworthiness of the potential tenant remained opaque until a year ago. Despite the excerpt from the debt enforcement register that those interested in the rental property had to submit. Because even this document, which at that time still had no alternative and was therefore indispensable, with a cumbersome name and the same procurement method, did not provide the landlord with any clarity. On the one hand, the conventional extract only shows the debt enforcement situation at the current place of residence. Any debt enforcement proceedings at previous places of residence remain invisible – the more than 400 debt enforcement offices in Switzerland are not networked. On the other hand, the document, which is still issued on paper, can be ‘corrected’ fairly easily. Accordingly, trickery is often used here with unpleasant entries.
More trust, less uncertainty with CreditTrust …
It is therefore not surprising that the newly developed CreditTrust certificate, launched in 2020, has established itself as an innovative and extremely reliable creditworthiness certificate with property managers within a few months. The digital, blockchain-secured certificate cannot be falsified, uses the two largest creditworthiness databases in Switzerland to determine solvency and only brings advantages on all sides: the landlord minimizes his risk of rent defaults many times over and the prospective tenant can deal with it within show the certificate issued in three minutes as really solvent and trustworthy.
… and gain a multiple of security and expressiveness
Almost as quickly, the CreditTrust certificate made it into the group of nominees for this year’s Real Estate Award in the management category. The award recognizes key projects and innovations that change the market and give impetus to the Swiss real estate world. The joy of all three companies involved in the development of the CreditTrust certificate – Intrum AG, CRIF AG and Certifaction AG – about the nomination was correspondingly great: Manuel Zollikofer, CRIF AG, Benoit Henry, Certifaction AG and Martin Honegger, Intrum AG, are themselves unanimously: “The nomination is valuable recognition. It confirms to us that with CreditTrust we have created a radical innovation that the market has been waiting for. ” The founders and innovators are well aware of the real estate industry’s difficulties with the debt enforcement extract: “We are proud to have set a new digital standard together. CreditTrust has not simply replaced the debt enforcement register extract. The digital certificate is many times more secure, more meaningful and more digital than a conventional debt collection register extract. “
A large market is open to the reliable, digital certificate
The CreditTrust certificate entered the market with great success. It is to be expected that the digital certificate will soon completely replace the conventional debt enforcement register extract due to its qualities and advantages. In view of the 3.2 million debt enforcement register extracts ordered annually in Switzerland for a variety of purposes, the predicate ‘radical innovation’ for CreditTrust does not only apply to its effect in the real estate industry.
