Lithuanian credit bureau Creditinfo is opening up its data to startups and other innovative companies. This means that company data as well as population statistical data held by the credit bureau could be used for developing value-added products such as apps, customer behavior predictive models and other solutions.

“This initiative is dedicated to a fairly wide audience. The greatest attention will be paid to new companies that are looking for a place where to realize themselves, have ideas and commercial vision, but lack data. Our data provided for these companies can be a great jumping-off point. On the other hand, we do not limit ourselves only to startups. Innovative companies that already exist in the market can also be interested in open data. Our initiative can encourage these companies to expand their range of activities and use available know-how by including more sectors,” Andrius Bogdanovičius, CEO of Creditinfo says.

Bogdanovičius notes that the credit bureau, with its experience, can also contribute to find out the needs of a product or service and assist with sales process.

Creditinfo will provide anonymized data to develop models, apps and other product prototypes. In later stages of product development, we will be able to provide “raw” data (population – only statistics). The data will be provided on a contract basis.

In exchange for provided data, Creditinfo will not require share of startups and other companies. If developers manage to sell a Creditinfo data-based product or service, the “success” fees for developers will be agreed upon in advance.