Cortera is a website that has a massive database used for taking a community approach to credit reporting. Cortera will have traditional credit data along with community reviews. Cortera launched a new service called the Cortera Credit Exchange.
Cortera said that their services are important because payments between small businesses are crucial to keep running. It is important to track these payments and identify untrustworthy partners. Cortera heavily depends on the community to contribute reviews for companies because traditional credit reports deals less than 1% of businesses in the U.S.
Cortera is led by President and CEO Jim Swift. Swift was the COO of LexisNexis Risk Management where he ran the commercial markets unit.