Credit risk

FinTrak Software talks about the credit risk management process

Emma Okonji

FinTrak Software Limited, Nigeria’s leading indigenous financial technology (Fintech) solutions provider with a physical presence in select African countries, has highlighted the need for efficiency in the credit risk management process, using the FinTrak Credit 360 solution Software.

This is what the firm said at a recent stakeholder conference organized for players in the banking and financial sector.

Speaking at the presentation, FinTrak Group Managing Director, Bimbo Abioye, said that “FinTrak software provides customized cutting-edge business transformation solutions that can intelligently combine efficiency with critical information needed for the process. FinTrak Credit 360 software has been able to improve the overall operational efficiency of user banks by more than forty percent through automated and digitized strategic controls.

In order to limit human errors to a strict minimum, the Credit 360 solution is equipped with artificial intelligence (AI) functionalities. This functionality can be used to work on corporate, retail and digital lending programs and the goal is to provide visibility and control of lending processes and digitize them from customer interaction to lifecycle of a typical credit transaction. The solution is integrated with a robust document management system allowing operators to work remotely, even on their mobile devices. Credit 360 software for credit managers is compatible with mobile devices to optimize transaction turnaround times with paperless transaction capabilities. The software has been proven to make loan underwriting easier and transparent.

Head of Credit, Standard Chartered Bank, Olamide Olayeni, said: “The presentation solution is a robust, one-stop-shop platform, and feedback from banks and users confirms that this is what every bank needs. examine. I’ll get back to my organization and engage them on the need to review Credit Risk 360 software. It’s a unique solution as opposed to other software where you can sign up for things differently.

Head of Risk Management for Access Bank, Paul Asiemo, said: “The software does Bassel, this software looks at reporting regulations and such, there are specific things that this software does that distinguishes from others. We have been deploying FinTrak Software solutions in our bank for over 15 years and we are impressed with what they have done.