Improving Credit Risk Management in Tanzania
Creditinfo Tanzania, in cooperation with the Creditinfo Academy, recently delivered a 2 day training course in Dar Es Salaam, Tanzania entitled “Improving your Credit Risk Management through the Incorporation of Credit Bureau Solutions.”
Credit risk management is a backbone of any organization. It is where you decide how to differentiate good payers from bad ones, how to monitor loan performances and finally, the review, follow up and structure a company’s collections process. Lending providers that improve their credit risk assessment processes will find that it leads to higher loan application acceptance rates, higher revenues and increased profitability.
The two day interactive seminar delivered by Creditinfo experts was designed for all professionals involved in managing risk associated to the customer management lifecycle, i.e. prospecting, evaluations, monitoring and debt management. Attendees included financial and credit risk professionals including senior bankers, micro finance and other professionals responsible for maintaining top quality loan portfolios, identifying risk management opportunities and designing financial solutions for clients in an evolving credit environment.
Miss Sia Lauwo, Business Client Relationship Manager, Standard Chartered Bank Tanzania, one of the attendees of the training programme, advised, “I enjoyed the seminar. The thing I took most from the seminar is how to properly understand the various information provided in the CRB reports (i.e. enquires, scoring, etc.). In addition, there were some products mentioned that have not been officially launched in Tanzania (i.e. Monitoring tools), which I believe will be highly useful in the community. I believe the impacts in Tanzania and an in-depth study as to how Creditinfo is positively impacting the market should be shared, because those who attend these presentations act as ambassadors for their institutions. What they take from these sessions can have an impact as to how much the organization will utilize the credit bureau platform.”
Agata Szydlowska, Head of Financial Inclusion and CRB Awareness Africa for the Creditinfo Group and also one of the lead trainers for the session explained that “This course provides the background behind the principles of granting credit, giving both experienced and new personnel tools and techniques that can be immediately applied to improve their credit risk management and overall business performance.”
Creditinfo Academy training events also present an excellent networking opportunity enabling participants to share their own ideas, challenges and best practice, as well as raising greater awareness about the use of external data provided by credit bureau. We highlight the different types of available data and how to best use it as part of the credit granting process, whilst covering the fundamental concepts of application processing and credit scoring.
Creditinfo Tanzania is the first licensed and operational credit reference bureau in Tanzania. We received our license from the Bank of Tanzania early June 2013. Our core services to cover each stage of the customer life cycle. Our services support banks and other credit providers, including retail and trade, to evaluate prospective customers, monitor performance of existing ones and manage the debts that they may have incurred. We collect data from as many sources as possible including the Creditinfo Creditors Network, where retail, utility, insurance companies and many more industries, share their data. Creditinfo Tanzania process this data and make it available in a useful format to subscribers who have a rightful reason to use that data. We provide these services in accordance with the relevant legal framework provided by the Bank of Tanzania. Creditinfo Tanzania provide quality data from the Bank of Tanzania’s Credit Reference Databank; automation of the capture and decisioning of new credit applications, development of bespoke scorecards and credit risk management consultancy.
Creditinfo Academy is a skills development and training provider that delivers accredited, generic and customized training services related to credit lifecycle management. The focus at Creditinfo Academy is to provide training for clients in need of skills development interventions to improve operational efficiency and overall business performance.
Head of Financial Inclusion and CRB Awareness – Africa
Creditinfo Group hf
Mobile: +254 702997588
Account Manager – Creditinfo Tanzania
Tel: +255 22 212 7263
Mobile: +255 767 222 645