Improving Credit Risk Management in Kenya
Creditinfo delivered an interactive workshop which took place at the Southern Sun Mayfair Hotel in Nairobi, Kenya on 16th and 17th February 2016, with attendees 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.
Agata Szydlowska, Head of Financial Inclusion & CRB Awareness in Africa, for Creditinfo Group and one of lead trainers for the Creditinfo Academy, explained that “There is widespread agreement, particularly amongst regulators, that financial institutions need to rethink credit policies, procedures, and the risks they are taking. Our interactive workshop provides knowledge and support to members of credit risk and operational management teams to better understand the developments with the credit information sharing initiative. We have designed the course for anyone who is involved in managing risk associated to the customer management lifecycle (prospecting, evaluation, monitoring and debt management).
We cover the concepts behind credit bureaus, and how businesses can use this data to improve the quality of lending, both in terms of efficiency and quality, also covering the fundamental concepts of application processing and utilsation of credit bureau reports.”
Ms. Szydlowska continued, “We have found that one of the key benefits of these events, which we deliver worldwide, is that it presents a unique opportunity for attendees to share ideas about their own challenges and best practice with other industry professionals and in this instance, also share those with 5 internationally experienced and knowledgeable consultants and speakers.”
The course participants agreed with Ms. Szydlowka’s, with one attendee from the banking sector adding “It was a great honour being in the workshop that was so insightful. I would now like to have a further audience with the consultants and see how best they can assist. Automation will not only increase productivity, but will also make work more fun.”
Mr. Daniel Kanyi, Chief Executive Officer, Creditinfo Kenya, stated, “Credit risk management is the backbone of any organisation. This is where you decide how to differentiate good payers from bad ones, how to monitor the loan performance and finally how to review, follow up and structure a collections process. Financial Institutions that improve their credit risk management processes often find that it leads to higher loan application acceptance rate and higher revenue, increasing the profitability of their business.”
Head of Financial Inclusion & CRB Awareness, Africa, Creditinfo Group
Chief Executive Officer, Creditinfo Kenya