GPS Based IT-Enabled Verifications

ICCI Information Services

Local Business Information

Business information of Foreign Companies

GPS Based IT-Enabled Verifications

ICIL GPS Based I.T Verification

ICCI offers state-of-the-art GPS-based verification services utilizing a French-designed tablet integrated with its proprietary software. This advanced system ensures accurate and efficient verification of individual borrowers’ identities and addresses.

Core Verification Activities:

  • Direct submission of inquiries by banks into the ICCI portal.
  • Automatic allocation of inquiries to ICCI field staff.
  • Supervision of field staff activities by banks and ICCI branch/head office personnel.
  • Comprehensive data collection, including GPS-based address verification.
  • Capturing photographs and signatures of applicants.
  • Real-time online delivery of verification reports to banks.

Established Expertise and Reliability:

For over 10 years, ICCI has been a trusted provider of verification services to financial institutions and multinational corporations.

  • National Bank of Pakistan (NBP) Karobar Scheme: A key client benefiting from ICCI’s verification services.
  • Kamyab Jawan Loan Scheme: ICCI serves as the exclusive nationwide verification service provider, delivering reliable solutions to mitigate risks.
  • Advanced Salary Verification: ICCI has consistently provided customized verification services to NBP to validate applicant information.

Tailored Solutions for Exceptional Standards:

ICCI has developed a unique system to ensure reliability and efficiency, consisting of:

  • Biometric-Enabled Tablets: Ensures precise identity verification.
  • Custom Android Applications: Designed specifically for field operations.
  • Windows-Based Web Applications: Provides robust MIS and application management for clients.

Key Features of ICCI Verification Services:

  1. Real-Time Data Sharing: Enables seamless integration and instant updates.
  2. GPS Location Capturing: Ensures pinpoint accuracy.
  3. Image Capturing: Adds an additional layer of validation.
  4. Detailed MIS Reporting: Offers comprehensive insights into data.
  5. Dashboard Access: Facilitates real-time monitoring and management.
  6. Web Portal: User-friendly and easily accessible interface.
  7. Data Encryption: Maintains security and confidentiality.
  8. Reduced Turnaround Time (TAT): Ensures rapid inquiry processing.

Process Flow:

  1. Inquiry Submission: Clients submit inquiries through the ICCI portal.
  2. Automated Branch Allocation: The system assigns inquiries to the appropriate branches.
  3. Field Assignment: Branch supervisors delegate inquiries to Field Investigation Officers (FIOs).
  4. Field Inquiry Execution: FIOs conduct on-site verification and finalize the process.
  5. Real-Time Synchronization: Completed inquiries are synced instantly and made available on the portal.
  6. Report Access: Clients can conveniently view and print reports from the ICCI portal.

ICCI’s I.T Enabled GPS-Based Verification Services stand out for their efficiency, accuracy, and security, making them the trusted choice for leading banks and organizations across Pakistan.

Business Information Reports of Foreign Companies

Banks rely on Business Information Reports from Inter Credit Check International (ICCI) to assess the creditworthiness of foreign companies before taking financial exposure. Under the State Bank of Pakistan (SBP) Foreign Exchange Regulations, banks must verify the creditworthiness of foreign suppliers before opening Letters of Credit (L/C) exceeding Rs. 1.5 million. The demand for such reports is growing due to the increasing risks associated with global bankruptcies and the rising prevalence of Zombie Companies, making it critical to mitigate risks in international trade.

Global Trends in Bankruptcies and Insolvencies:

  1. Global Insolvencies:

    • Reports from Euler Hermes indicate a 6% increase in business insolvencies globally compared to previous years.
    • Atradius also predicts a continued rise in global insolvencies.

  2. Zombie Companies:

    • According to a CNN Business Report by Matt Egan & Julia Horowitz, 13% of global companies are classified as ‘zombies’.
    • A Zombie Company refers to a business that cannot sustain itself independently. It survives on bailouts, lenient creditors, or below-market interest rates. These companies, although able to generate cash flow to cover operational costs and loan interest, lack sufficient funds to pay off their actual debt.
ICCI’s Role in Risk Mitigation:

To avoid financial exposure to companies with high-risk profiles, ICCI offers the following services:

  1. Bankruptcy Status Reports:
    These reports help identify foreign companies that have filed for bankruptcy, enabling banks to avoid risky engagements.

  2. Comprehensive Business Information Reports:
    ICCI provides detailed financial information on foreign companies, allowing for a thorough evaluation of their financial health. This is especially crucial when assessing Zombie companies to mitigate exposure to potential losses.

Global Partnerships:

ICCI has established partnerships with leading business information providers in the USA, Europe, and Asia. These collaborations enable ICCI to supply detailed and reliable reports, including Bankruptcy Status Reports and Comprehensive Business Information Reports, for companies across these regions.

By leveraging these resources, ICCI empowers banks and businesses to make informed decisions, reducing the risks associated with international trade and financial exposure.

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