Does Your Business Suffer From Acronymitis?

Love them or hate them but acronyms are everywhere!

Acronymitis has even seeped its way into everyday speech, with LOL, ASAP and FYI*, frequently used in daily conversations.

When it comes to financial services and markets like ours at Credas – well, it is littered with them. Here’s your starter for ten..

  • KYC (Know your Customer)
  • AML (Anti-Money Laundering)
  • RTW (Right to Work)
  • MDS (Modern Day Slavery)

.. and these are just the markets and regulations Credas can help with the …never mind the technology we work with and are developing.

It is a tricky one for a company like ours as acronyms are in our DNA (there’s another!)–we strive to use them as little as possible and explain our product in an accessible way.

At the end of the day, Credas is a simple product, solving a simple problem – namely verifying identification documents.

It is tricky though, especially when everyone around you uses acronyms in most conversations, it’s very difficult not to fall into the same trap. “What is the ROI on that?” asks one colleague, “GDPR means we need to employ a DPO”, says another. When will it end?

acronyms_credas

Acronymitis is a modern plague, but one that in our line of business we kind of need. There aren’t many people who don’t know what an ID is? Even the name of our country is an acronym – UK – therefore, it’s no surprise that they are here, there and blinking everywhere.

We have made a pledge here at Credas, not to use unfamiliar or sector-specific acronyms in our communications. To put it plainly, what we mean is, we’ll do our very best to always use simple language wherever and whenever we can in our communications.

We might, and probably will, slip up from time to time, but we do understand that acronyms can be off-putting and alienate for those who might want to use our app, or our suite of software services, but don’t understand what those amalgamated letters actually mean.

So, before we say TTFN**, we just wanted to give you some FYI*** and assure you that we will implement this acronym-amnesty 24/7**** and ASAP***** to ensure we are providing as much ROI****** for your time when learning about Credas and its AI*******.

*if you don’t know these ones, it’s about to get even more confusing
**TTFN – ta ta for now
***FYI – for your information
****24-hours a day, every day
*****as soon as possible
******return on investment
*******artificial intelligence

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