The Z-score formula for predicting bankruptcy was published in 1968 by Edward I. Altman, who was, at the time, an Assistant Professor of Finance at New York University. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Z-scores are used to predict corporate defaults and an easy-to-calculate control measure for the financial distress status of companies.

With the combination of our XBRL data and the Altman Z formula which is used by most financial institutions globally, we have not only bypassed the need of using a external UK credit reference agency but have also gained a technological and financial edge over our competitors. Using the combined data sets we have created, we are able to find companies in the UK who are need of cash flow and target them accordingly and effectively. The same data sets can also be used for many other business use cases but we prefer at this moment in time to put our full focus in the invoice finance industry and seize an significant portion of market share from our main competitors.