Micro-lenders should work with regulators

Recently, there has been much publicity about the 1.5 million Kenyans who have been negatively listed on the Credit Reference Bureau (CRB) as a result of borrowing from micro-lenders.

— by Kevin Mutiso

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Icelandic company shows how fintech can lift people out of poverty

Read the article by IBS intelligence on how Coremetrix is launching a new service that could lift many of the ‘unbanked’ of developing nations out of poverty through an alternative method of credit assessment.

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Are we there yet? Big Data and the Quest for Financial Inclusion

At financial sector conferences, you come across talk about the use and application of big data and the same question pops up – are we there yet? Are financial services’ providers applying data analytics in their daily management to streamline decision-making and improve efficiency?

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Working with CREDO Bank

In 2017, we were approached by CREDO Bank to help them reviewing credit process for small urban and rural household customers. Having around 220,000 active clients can be a challenging task, especially maintaining a high retention rate in such a competitive environment as agricultural and individual consumer credit lending.

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BUSINESS DAILY: Creditinfo unveils scoring system based on personality in Kenya

“The integration of innovative credit evaluation solutions based on personality features with a robust credit bureau system such as CBS will enable the Kenyan market to have a tangible competitive advantage in the area of credit,” said Kamau Kunyiha, CEO of Creditinfo Kenya. In partnership with Coremetrix.

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Feels good to be #1 – the most widespread credit bureau provider

Feels good to be #1: with 33 credit bureaus running today, Creditinfo appears to be the most widespread global partner in this field worldwide. Most of Creditinfo bureaus are powered by the credit bureau system CBS, which is a flexible solution enabling to easily integrate most various sources of information.

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Psychometric Solution Already Available at Kenyan Credit Bureau

The Kenyan market is amongst the first in Africa to benefit from a fully integrated psychometric module within a credit bureau system, thus enabling more accurate credit decisioning and broader access to finance, thanks to an additional layer of information on the consumer, coming from the consumer himself/herself: information on one’s personality.

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Creditinfo’s Breakfast Seminar in Guyana

On Friday, April 27, 2018, Creditinfo Guyana hosted, current and potential subscribers from a broad range of utility, financial and other commercial entities, at a Breakfast Seminar in Georgetown to coincide with the visit of the Group CEO, Executive Director and Regional Manager for Latin America and the Caribbean.  In attendance were representatives from 23 institutions.

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Proof that Credit Bureaus Improve Countries’ Distance to Frontier Score for Getting Credit

Within the Credit Bureau industry, we often talk about better financial inclusion and ways to facilitate access to finance, especially in light of the 2 billion “unbanked” population – a number reported in the Worldwide Findex Database by the World Bank and escalated by many industry players.

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Atlas Mara instantly increased their credit limits thanks to Instant Decision Module

Our decision to partner with Creditinfo for Risk Management Services is hinged on their innovative value-added services, risk consulting and overall commitment of the leadership team. Creditinfo is a leader in automated risk-decisioning systems, data analytics and scoring services. Their risk consulting services is world class and manned by the best.

We use Instant Decision Module (IDM), their flagship product for risk-decisioning in our micro-lending business. IDM provides us the means to securely protect our risk decisioning rules, which, equates to our IP; IDM also enables us to set risk decisioning rules at granular level, and to track/measure outcomes for post-mortem reviews. It has a web-service interface that enables our loan application to interact with it in real-time. With IDM, risk becomes measurable and controllable.

— Ikedichi Kanu, Country Head at Atlas Mara Digital, Kenya