For Businesses
Technology
Spark’s latest feature “KPC” (Key Person Checker) will instantly pull through the key people associated with the business, automatically checking for bankruptcies, personal IVA’s, disqualifications, previous company insolvencies, and tax defaults.
The feature leverages automation to dive deeper into the history of the key people associated with a business.
The brand new KPC automatically finds the following associated with a business:
And check them instantly for:
Bankruptcies
Individual bankruptcy occurs when a person is unable to repay their debts and seeks legal protection from creditors. Spark automatically connects directors and shareholders with bankruptcy cases. High credit risk
Personal IVA
An IVA is a legal agreement between an individual and their creditors to repay debts over time at a negotiated amount, indicating the person is in a financial strain but attempting to manage debt. Spark automatically connects directors and shareholders with personal IVA cases. Moderate credit risk.
Disqualified directors
Disqualifications happens when any director or managerial positions has a misconduct or financial mismanagement. It indicates whether the person is fit to manage businesses or financial obligations. Spark connect businesses and directors to those on the disqualifications list. Alarming credit risk.
Companies insolvencies
Company insolvencies occur when a business is unable to meet their financial obligations. Spark instantly checks a director and shareholders associated appointments (including possible matches) for insolvencies, flagging matches cases for human review.
Tax Defaulter
The governments’ “name and shame” register. Tax defaulters are individuals or businesses that have failed to meet their tax obligations. Spark matches director’s names and businesses to this list to flag positive matches. It indicates a lack of financial responsibility, which could be classed as a higher risk of default.
Interested in finding out more? Contact our team or request a demo.
As a founder of multiple businesses, Jamie believes that mindset, discipline and ambition are key drivers for success, both for his businesses and for his clients.
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