Firm Strengthens Risk Management Software

Risk managers in the Nigerian financial sector are expected to get relief in handling risk management, following the decision by FinTrak to rejig its risk management software, known as Credit Risk 360.

The Lagos-based financial technology (fintech) company recently engaged commercial bankers and other financial sector players on the need to deploy a robust application that would integrate, modernise and update their credit risk management process right from origination to repayment.

Addressing the audience, the Group Managing Director of FinTrak Software, Bimbo Abioye said, “With the Credit 360 software, valuation history can be tracked easily, and notifications gotten on the go, this is due to the mobile functionality of the software.”

“Financial instruments such as stocks, shares and even exchange can be integrated in this software, making it an all-round tool for credit managers and bankers.

“With the Credit Risk 360 solution, Credit risk managers in and financial institutions would enjoy ease of credit processing such as loan impairment, credit documentation, credit appraisal, loan reporting, approval and loan restructuring.”

Industry watchers defined the application as a game changer in the credit and risk management ecosystem.

They revealed that the solution had been deployed to First Bank of Nigeria Limited.

Program Manager, Credit Risk Transformation Program – First Bank Plc, Mr. Chineme Emmanuel Eze, said, “For such a solution to come out of the stables of FinTrak, it has demonstrated that the company has consistently maintained quality, which has even surpassed industry standards.

“Their Credit Risk solution is so advanced that it can be tailored to suit one’s individual needs unlike the off-the-shelf variants of software available.”

The Core Banking and Credit Implementation Lead, FinTrak, Chris Sualeze said, “This software addresses all the deficiencies and also limits errors. The architecture of the solution is highly flexible and this makes it mobile adaptive in this age of mobility.

“Bank executives need not carry their laptops around as they can work with the solution on the go. The Credit Risk 360 Solution is highly mobile with a parameterised set-up. With two factor authentication embedded in the solution, Credit Risk 360 can be said to be one of the most secure risk management software in the market.”