Creditinfo Group is part of Africa Fintech Awards 2016, through its involvement with panel of judges.
Agata Szydlowska (Head of Financial Inclusion & CRB Awareness) was elected as a judge for the Fintech Awards Africa 2016 (http://www.fintech-africa.com/panel-of-judges) and joined the group of the seasoned investors, academics, marketers, entrepreneurs with an extensive track record in finance and/ or technology.
Technological advances are assisting financial sector to find new ways of doing more business at lower costs and expand its client base; this combined with fintech developments is transforming the financial services industry landscape on the African continent. All this is happening at a very fast paste and not leaving the financial institutions much choice rather than adapt their process rapidly. Financial Institutions are changing ways of doing business, especially when it comes to gathering, transmitting and analyzing data, which often comes from mobile based solutions.
One of the challenges, which is related to the issue of new technological developments and fintech innovations is ensuring that the staff managing those new products and digitalized loans possess relevant set of skills. The conservative approach towards credit control and monitoring won’t work in this case.
Credit officers are no longer dealing with Excel spreadsheets and direct interviews with clients. They have to be apt with new technologies, understand the latest products, and understand the trends as well as the new risks which come with it. This is why we established Creditinfo Academy – to assist those professionals with such challenges. Credit Risk management is not only about analyzing credit applications, and overlooking loan portfolios, it starts with acquiring the client through various new means, managing and monitoring to the follow ups. There is also lot of new types of fraud which comes up together with digitalization of financial services and credit industry needs to be prepared for this as well.