Key Milestones

Since 1993, NetEconomy has been developing best–in–class solutions to help the world’s financial and telecoms businesses mitigate risk better understand and control their data.

Key Milestones

1992

EDR founded by Richard Verheij and Robin Bodaan to produce consumer information–based Credit Reports for a range of clients within a variety of industries. These include banks, insurance companies and telecommunications businesses.

1993

Spun–off Economic Data Network (EDN) now known as NetEconomy. Developed the first online Credit Rating System (CRS) helping telecom businesses, banks and insurance companies to reduce bad debt and detect consumer fraud. CRS allows clients to check new customers based on their risk profiles, calculated according to various statistical techniques and stored in a database structure.

1995

Developed one of the largest consumer databases in Benelux. This contained detailed consumer payment history, enabling the development of online scoring models for client acceptance procedures.

1997

Development of fraud detection application with BT Telfort.

1998

NetEconomy releases ERASE for the Telecom industry. Customers O2 and Debitel use the ERASE ASP service monitoring call usage 24/7.

1999

Partnership with PricewaterhouseCoopers. Beginning of pilot with ING and development of ERASE Finance.

2000

NetEconomy release of ERASE Finance; over 10 ERASE customer implementations now in operation worldwide.

2001

EDR Group acquires consulting company Humanity. Acquisition helps support a range of clients in setting up procedures for managing risk including implementation services for NetEconomy’s ERASE solution.

2001

International launch of EDN as NetEconomy.

2002

EDR acquires the Debt Recovery Agency (DRA). DRA provides immediate visibility and status of consumer outstanding debt.

2003

First global ERASE User Group Meeting.

2003

NetEconomy selected by Microsoft as leading software vendor delivering anti–money laundering solutions to financial institutions worldwide.

2003

NetEconomy ranked as region’s most innovative IT company. (Source: Intermediair, June 2003).

2004

NetEconomy expands into Middle–East, South (East) Asia, South Africa, India, and the United States.

2005

Management Team expanded. Profitability increases and customer base triples. This strengthens leadership position for financial crime prevention, detection, and management.

2005

Esprit Capital Partners LLP acquires NetEconomy. New ownership set to accelerate expansion of product development and sales operations.

2006

NetEconomy wins the Complinet 2nd Annual Compliance Industry Award for Most Cost Effective Compliance Technology Provider of 2006.

2006

NetEconomy wins The Banker 2006 Technology Award for Best Fraud Prevention Project.

2007

NetEconomy expands into Australia and China, and continues growth with more than 130 implementations across 58 countries.

2007

NetEconomy is acquired by Fiserv (NASDAQ: FISV) a leading provider of information technology services to the financial industry worldwide.