The progressive development of the Greek economy and the banking system have led to the Greek Banks demand for access to reliable and accurate credit related data. Over the years, the importance of such data has become clear; it protects credit financial institutions and reduces the risk from insolvency. Therefore, it benefits both the clients and the banks. As a result, nearly all Greek Banks co-functioned to create "Tiresias", a company entrusted with the development and management of a reliable Credit Profile Databank.
Tiresias was formally founded on September 1977 as a non-profit organisation, and has been operating as a joint stock (SA) company, yet fully maintaining the philosophy of a genuine non-profit organisation while securing the necessary preconditions for its further development.
Today, Tiresias specialises in the collection and supply of credit profile data on corporate entities and private individuals and the operation of a risk consolidation system regarding consumer credit. Additionally, the company develops interbanking information systems and provides information and communication services to all concerned parties.
The company uses SAP ECC 6.0 (Accounting, Controlling [Cost & Profit], Sales and Distribution, Purchasing Management, Materials & Services Management).