The history of KSV1870
As Europe's first organisation of its kind, the company is first registered on 12 February 1870 as "Creditorenverein zum Schutz der Forderungen bei Insolvenzen" (Creditor association for the protection of insolvency claims) and established in its constitutive meeting held on 10 April 1870 at Gonzagagasse 12 in downtown Vienna.
A bulletin entitled 'Mitteilungen des Creditorenvereins" (Creditor Association News) appears once a week, listing current insolvencies. This weekly communiqué continues to appear today – albeit in the form of a newsletter sent by email.
The association relocates to Zelinkagasse 10 in Vienna's 1st district.
The dawn of a new era for creditor protection. The association undergoes major restructuring, adding debt recovery and credit information services to its portfolio.
The articles of association are amended, and the association gets a new name. The new name "Creditorenverein von 1870, Schutzgemeinschaft für Handel und Industrie" (Creditor Association of 1870, Organisation for the Protection of Retail and Industry) duly takes account of the association's stated goal: preventive creditor protection.
Austria's federal chancellor grants the association a privileged role in insolvency proceedings, recognising it as a "well managed, respectable, serviceable association".
The civil war shakes the very foundations of the fledgling republic. This is the worst year on record in terms of the number of bankruptcies and compositions. In the year of Austria‘s Anschluss with Germany (1938), the association is renamed "Donauländischer Kreditschutzverband" (Danubian Creditor Protection Association).
After merging with Nordböhmischen Kreditorenverein, the association takes on the name that it continues to use today: "Kreditschutzverband von 1870".
The articles of association imposed in 1938 are declared void and the original articles of association are reinstated. 19 employees look after the interests of 543 members.
International collaboration with "Textilcredit" in Brussels is initiated, which includes major Scandinavian organisations.
As economic recovery sets in, the association counts 4,481 members. The Kleinkreditkataster, which today goes by the name of KonsumtenKreditEvidenz or ConsumerCreditInformation, and the credit register for large exposures are established.
In recognition of its services, Kreditschutzverband von 1870 is granted the right to use the Austrian national coat of arms in its business dealings on the occasion of its 100th anniversary.
As Kreditschutzverband turns 100 years old, it has 11,000 members and over 350 employees on its payroll. Due to economic developments, the focus is on out-of-court composition, corporate restructuring, the fight against white-collar crime and the legislative reform of pertinent laws and regulations.
The computer age begins at Kreditschutzverband. A comprehensive business database is developed that can be accessed online by all the association's Austrian and international customers.
Following the liberalisation of Eastern Europe, Kreditschutzverband in collaboration with French credit insurer Coface establish Intercredit Information Holding AG (now trading as Coface Central Europe Holding AG). Additional subsidiaries are set up in nearly all countries of Central and Eastern Europe.
The CommercialCreditRecords database is launched to assist mail order and telecommunication companies exchange negative data.
www.myksv.at – The new web portal with structured information products and user-centred features goes live, eloquently demonstrating the innovation power of Kreditschutzverband von 1870.
After spending over 100 years in Zelinkagasse, Kreditschutzverband relocates its head office to Euro Plaza Areal in Vienna's 12th district, ushering in a new corporate era.
The demands of a globalised economy require KSV1870 to restructure: Kreditschutzverband von 1870 sets up KSV1870 Holding AG, a strategic unit that has as its purpose the support of the likewise newly established private limited company – KSV1870 Information GmbH and KSV1870 Forderungsmanagement GmbH – in their daily operations. This organisational spin-off is tasked with assisting KSV1870 in its quest to gain market share and ensure customer care.
This year is all about strategic realignment: digitalisation finally arrives at KSV1870. True to the motto "KSV1870 creates knowledge and safeguards values", Austria's oldest association for the protection of creditors presents new solutions and adapts existing products to current needs in the age of digitalisation.