Community Research and Development Information Service - CORDIS

H2020

S-PEEK Report Summary

Project ID: 719432

Periodic Reporting for period 1 - S-PEEK (Simple, immediate and economical access to company credit rating and financial information.)

Reporting period: 2016-02-01 to 2016-05-31

Summary of the context and overall objectives of the project

The issue currently being faced is companies within Europe not being able to have access to registration and financial information to the estimated 22 million EU enterprises including SMEs. Quick, user-friendly, and affordable access is needed in order to promote positive business relationships within and between companies from different European states. Above all, the information provided must be quality assured.
ModeFinance has successfully created S-PEEK to fulfill all of the above, importantly receiving accreditation from the European Securities and Markets Authority (ESMA), 1 out of 8 EU SMEs to receive this accreditation, and the only one to provide credit ratings within a freemium business model.

The entry and proliferation of S-PEEK is pivotal in promoting business relationships within and between European states, helping to invigorate and spur cross-state investment under a successful singular capital unions market.

The overall objectives of the project was to engage in customer feedback to derive important improvements required from the solution, narrowing of target markets and demographics, confirmation of pilot trial details to qualify these assumptions, as well as confirming the complete value chain, IP strategy and PR strategy as pre-requisites to European-wide commercialisation.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

ModeFinance has importantly investigated the market customer landscape of S-PEEK's prototype user, gained important feedback, and set about to confirm required third parties to assist in pre and post-commercialisation activies

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

S-PEEK is the only solution that utilises its proprietary MORE mathematical algorithm that provides company credit ratings, of which have been accredited by ESMA. It also successfully consolidates information on the estimated 22 million EU enterpirses thorugh its relationships with data partners and government bodies.The entry and proliferation of S-PEEK is pivotal in promoting business relationships within and between European states, helping to invigorate and spur cross-state investment under a successful singular capital unions market, as deemed a core objective by the European Commission

Related information

Record Number: 190319 / Last updated on: 2016-11-14