ORGANIZACIÓN VERAZ S.A.
Company History
Veraz was founded in 1957 and since then it has always privileged specialization, service quality and technological development, which has let Veraz become the most important informatics solution company in the country.
Since 1998, Equifax (U.S.A.) holds the majority stake in Veraz. This means the world’s leading company in the field of business and credit reports is entirely part of the company. Capital stock is also owned by Banelco, the main automated teller machine (ATM) network in the country, a leader in banking and financial technology.
Our work team is equipped with informatics and telecommunication state-of-the-art technology, allowing the supply of precise information within seconds to customers anywhere in the country.
Our database -the most important and reliable in market- comprises data of all persons and companies in Argentina, with over 30 million histories of credit line, consumption and telco behavior, among other.
Veraz database is real time updated and it processes more data on a monthly basis than the number of country inhabitants to provide customers and consumers with precise, updated and reliable information, 24 hours a day, 365 days a year.
Business reports and access to credit
Veraz reports include personal data of commercial, credit and payment nature, concerning the fulfillment of business obligations by data owners. Data is supplied to natural and artificial persons who request the same for purposes of business transactions or negotiations, and who are not allowed to use the same for other purposes pursuant to provisions of the Personal Data Protection Law.
Veraz issues no opinion whatsoever on the information obtained. The Company just transmits data supplied by its information sources (BCRA -Central Bank of the Argentina -, Courts, Official Gazette, customers). The data the company transmits has objective character and content, with no scoring or commentary on the creditworthiness of data owners.
This information is an essential contribution to decision-making concerning patrimony, business and credit, in thousands of daily transactions (financial or related to real estate, cars, electric appliances, access to services, and so forth).
Veraz helps credit or service grantor and applicant to benefit from better decision-making, thus achieving efficient credit distribution and financial cost reduction.
Respect Information Privacy
National Law No. 25,326 on Personal Data Protection, which regulates the Habeas Data right, secures access to the business information Veraz has in its data bank so that, "in the event of falsehood or discrimination …, demand the erasure, correction, confidentiality or updating of the same (Section 43, third paragraph of the National Constitution, as amended in 1994)."
Therefore, Veraz adjusts its business activity to the above-mentioned Law No. 25,326 on Personal Data Protection and makes collected information available, correcting and updating data when appropriate, welcoming and paying attention to remarks and documents filed by data owners.
Veraz keeps privacy, safety and confidentiality of collected data and requests its customers to keep the strict privacy and confidentiality of data included in the relevant reports they have received, with strict prohibition to make them known to third parties by any other available means. In this sense, Veraz identifies every person who gets access to data and duly informs every data holder about those who have obtained access to his or her record.
To Veraz, Habeas Data has been in force due to self-regulation and self-restriction since the beginning of its business activity. The Company has never collected, processed or informed by any means about sensitive data which may affect data holder’s strictly personal rights, such as data concerning his or her privacy, honor, equality, freedom and private life, among other.