Fintech partnerships are filling the gaps of financial inclusion so says a credit reporting agency in Nigeria, Credit Bureau Limited (CRC)
The agency believes that with its data risk profiles deploying diligent research, tech-driven development tools, data mining will create more fintech collaboration in the nation and can be key factors in covering the space of financial inclusion services.
Over 95% of the nation’s recorded credit data from commercial banks, on-banks institutions, and utility companies are all through the efforts of the CRC agency and they claim that their market share is the result of a well-organized structure, fine-tuned processes, and regulated governance.
Tunde Popoola the Managing Director, Credit Bureau Limited (CRC) informed The Guardians that creditors can access the CRC database to check prospective borrowers, credit history and tailor new credit products, using its tech-driven development tools.
The agency was awarded the 2020 recognition of Capital Finance International (CFI.co), whose headquarters is at London, United Kingdom, as the best credit bureau in Nigeria as it was stated that the agency sustainable retail lending is powered by its technology prowess in digitization and data-driven decisions.
CFI.co, an online resource reporting on business, economics, and finance, which gave the award to CRC because of their impressive market share.
The report of CFI.co shows that CRC decision to an international partnership where it created a method to standardize credit scoring across the Nigerian market and with its partnership with Nova, allows Nigerians that relocate to the US to have their credit history and provide the avenue for them to access credit products and service.
Every year, CFI.co search out individuals and organizations in their various sectors of the economy who add value to stakeholders. Reporting from the front-lines of economic convergence, CFI.co realizes that best practice is to be found throughout the world.
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