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Cyprus’ only credit bureau renamed

artemis banking

Artemis Banking Information Systems announced on Friday that it has adopted a new name, with the company now being renamed Artemis Credit Bureau Ltd.

Artemis is Cyprus’ only credit bureau, is recognised by the World Bank and is a full member of ACCIS, the European Association of Credit Bureaus.

Founded in 2008 as a subsidiary of the Association of Cyprus Banks, Artemis is currently a partner with all banks and credit acquiring companies in Cyprus, covering 100 per cent of the market through the data stored and processed in its registry.

The company’s main objective is to facilitate the evaluation of debtors’ creditworthiness by banks and credit management companies.

Artemis Credit Bureau stated in an announcement that its new vision is to be “the leading and most reliable source of credit data in Cyprus, to support its customers and consumers, with the constant goal of the prosperity of the Cypriot economy”.

The company also stated this will be achieved through the continued provision of a high level of reliable information, on which both the organisation’s customers and consumers can rely for more informed decision-making.

Artemis Credit Bureau general manager Yiannis Tomasides stated that “we renew our corporate image and our commitment to continue to offer real value to both the organisations that utilise the data of our archive, and to consumers, while maintaining the same values ​​that have established us as a successful institution in the Cypriot economy”.

“In order to succeed in our mission, we have as our constant goal the continuous expansion of our database, but always with the absolute goal of ensuring the protection of the personal data we process, the provision of innovative services to our customers and consumers, always through high levels of service, and the investment in the human resources of the organisation,” Tomasides added in terms of the company’s action plan.

According to the announcement, Michael Kammas, general manager of the Cyprus Banking Association, parent company of Artemis Credit Bureau, said that “when we envisioned the creation of a Cyprus Credit Bureau, several years ago, we were convinced of the value it would offer, not only to the banking sector, but to the whole economy”.

Kammas explained that Artemis was built as an initiative of the Cyprus Banking Association, with the close and good cooperation of the association with the Central Bank of Cyprus, as well as the Office for Personal Data Protection, with absolute respect for the letter and spirit of the law.

“Today, realising the importance of the Artemis Credit Bureau’s role for the economy in practice, we are proud of the realisation of our vision,” Kammas added.

Meanwhile, Artemis Credit Bureau chairman of the board, Panicos Nicolaou, stressed the importance of the organisation for financial institutions.

“The Artemis Credit Bureau information system has been for years the most reliable source of credit data in Cyprus,” Nicolaou said, adding that it is a valuable tool in the hands of banks and credit companies, serving as an efficient way to determine a borrower’s debt and creditworthiness.

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