News

CRC Credit Bureau launches solution to lending risks

CRC Credit Bureau has announced a data-enabled solution, CRC Returnex, that will provide lending institutions with the means of using artificial intelligence to identify and retain borrowers in their portfolio.
A statement by the firm said this would enable lenders to effectively profile borrowers that will take loans again or those that may borrow from other institutions and those who may stop borrowing in entirety or for the duration of time.
Commenting on the development, Managing Director and Chief Executive Officer of CRC Credit Bureau Limited, Mr. Tunde Popoola, said: “This innovation in Nigeria, the first in the credit reporting industry, is a solution that enables lenders manage their credit risk exposure while cost-effectively channelling their marketing communications activities to the right customer base, thereby saving on marketing spend.
“CRC Returnex offers lenders a means of prompt identification and retention of customers through an effective customer management process. “With this solution, lenders can detect delinquent customers on time while driving customer loyalty.” He explained that CRC Returnex offers lenders a means of prompt identification and retention of customers through an effective customer management process adding that with the solution, lenders can detect delinquent customers on time while driving customer loyalty.
He said: “CRC has entered a new phase of growth and expansion beyond offering credit solutions. We are evolving into a data analytics company. “As a data company, we would ensure that beyond providing credit data, our customers are empowered to use data to improve their business operations and take informed decisions.
“With CRC Returnex, our customers can efficiently and effectively manage their customer retention and marketing activities. “In this new normal, especially with the ongoing pandemic, it is paramount for lenders to become more data-focused on all their business operations especially when it comes to risk analysis and marketing.
“CRC Credit Bureau is poised to support by providing various products and services that are data and technology-driven which will solve identified pain points for both lenders and borrowers. “With CRC Returnex, lenders can forecast if a customer has a high or low probability of coming back to access a loan in the future and as well identify the most important metrics for a return customer,” he added.

Advertisement
READ MORE:  Why I Sacked Rivers Commissioner For Environment – Wike

Dear Reader,
Every day, we strive to bring the most accurate, up-to-date, and complete information to our readers like you. It requires money to produce good journalism. We're asking for your help today to help us do more. Your contribution ensures that Metro Times can continue to provide good journalism to people all over the world.  Donate or sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Union Bank Plc
0139921998
Micnaij Media Ltd


Inquiries:
Email: info@metrotimesonline.com
Whatsapp: +234 701 162 0455

Leave a Reply