Baku, Azerbaijan, April 19, 2017 – IFC, a member of the World Bank Group, over 20 local financial institutions and Creditinfo have teamed-up in launching Azerbaijan’s first private credit bureau to enable local financial institutions to better share credit information, manage lending risks, and boost access to finance for borrowers, including SMEs.
Lenders in emerging markets are increasingly looking towards personality-based methods when a customer’s credit history is insufficient for traditional risk analysis. Coremetrix believes that psychometric data can play a vital role in opening up access to vital financial services and matching lenders with profitable, new customers.
Clare McCaffery’s recent interview in TEARSHEET explains some of the methodology behind how Coremetrix can predict real-life financial outcomes and unlock access to credit and other financial products worldwide.
Check this out right here.
Live data started to flow at Pefindo, the credit bureau in Indonesia powered by Creditinfo. Indonesia being the fourth most populated country in the world, with an estimated population of 260 million, this project illustrates a solid scope-related challenge that a team of more than 60 professionals achieved in approximately 2 years.
Sigrún Ragna Ólafsdóttir has joined Creditinfo Group as external Board Member, replacing Hákon Stefánsson who temporarily held this position and remains Deputy CEO of the company as well as Executive Director for Credit Bureau Operations at Creditinfo.
Creditinfo Decision Analytics is launching the Collateral Registry as an essential stand-alone solution to contribute in ensuring a healthy financial ecosystem by enabling to centrally manage information on collaterals and thus avoid duplications or potential fraud.
Creditinfo Volo signs contract in Benin and now covers all countries of the West Africa Monetary Union
The signage of contracts for data sharing between the Credit Bureau (BIC) of West Africa Monetary Union (WAMU), Creditinfo Volo and 26 Benin institutions, amongst which 15 banks and 11 other large microfinance institutions, represents a very important step in concluding legal proceedings to build a strong financial ecosystem in West Africa. Benin is the final country from the 8 members of the WAMU to enable such information sharing and therefore will contribute in strengthening and increasing the efficiency of credit management in the whole region.
On Friday, 24th March 2017, an agreement was signed between Creditinfo Group and Alternative Circle, a Nairobi-based mobile financial solutions innovator, to facilitate financial inclusion in Africa. Seed capital, as well as extensive Creditinfo expertise in classic and alternative credit risk management, will empower Alternative Circle to enable access to consumer data that was unavailable before, therefore lowering barriers to a wider population to get access to finance.
The vast data source in the Kenyan credit bureau are currently under utilized by the markets’ banks and MFIs according to credit bureau expert Kamau Kunyiha CEO of Creditinfo Kenya. The lenders will need to transform their processes or be left behind by the competition.
Check out latest industry developments on Creditinfo Trend Report 2017
Creditinfo Lithuania together with partners received an approval for more than 430 thousand euros EU funding. Funding is allocated for research and innovation activities.