Unlocking Financial Trust: The Role of Bank References in Establishing Creditworthiness
Credit managers are the professional investigators of the financial world. Just like detectives, they meticulously gather data from various sources, such as credit reports, financial statements, and bank references, piecing together the financial puzzle.
Download NACM’s latest white paper in partnership with Thomson Reuters Confirmation, Unlocking Financial Trust: The Role of Bank References in Establishing Creditworthiness, to learn how bank references are imperative in the credit investigation.
Other key findings include:
- 27% of companies lose more than $1M in revenue each year due to the inability to obtain sufficient customer information, according to an NACM eNews poll.
- 16% of credit departments say insufficient credit investigations have been the biggest cause of credit losses over the last three years.
- Financial institutions provide additional information that cannot be found elsewhere to support the credit investigation.
