FinTrak Software Harps on Credit Risk Management Process

Emma Okonji

FinTrak Software Limited, Nigeria’s foremost indigenous financial technology (Fintech) solution provider with physical presence in some African countries, has stressed the need for efficiency in credit risk management process, using the FinTrak Credit 360 Software solution.

This was made known by the firm, during a recent stakeholders conference organised for the banking and financial industry players.

Speaking during the presentation, the Group Managing Director at FinTrak,  Bimbo Abioye stated that “FinTrak software delivers customised state of the art business transformation solutions that can intelligently combine efficiency with critical information needed for management decision-making process. FinTrak Credit 360 software has been able to improve user banks overall operational efficiency by over forty percent through automated strategic and digitized policy controls”

In order to limit human error to the barest minimum, Credit 360 solution comes with artificial intelligence (AI) features. This feature can be used to work on corporate, retail and digital lending programs and the goal is to provide visibility and control of loan processes and to digitalize it, this is from customer interaction to the complete life cycle of a typical credit transaction. The solution is integrated with robust document management system providing capability for operators to work remotely even on their mobile devices. The Credit 360 software for credit managers is mobile friendly for optimized transaction turnaround times with paperless transaction capabilities. The software has been proven to make loan underwriting easier and seamless.

Credit Manager, Standard Chartered Bank, Olamide Olayeni, said: “The solution from the presentation is a robust and one-shop platform, and the feedback from what banks and users are saying confirms that it is what every bank needs to look at. I will get back to my organization and engage them on the need to look at the Credit Risk 360 software. It is a one stop solution as opposed to other software where you can have things subscribed differently.” 

Head, Risk Management for Access Bank, Paul Asiemo, said: “The software takes care of Bassel, this software looks at regulating reporting and others, there are specific things that this software does that sets it apart from others. We have been deploying FinTrak Software solutions in our bank for over 15 years ago and we are impressed with what they have done.”