Credit
Risk managers in the Nigerian financial sector would be relieved as FinTrak
rejigs one of the most robust Credit Risk Management software – Credit Risk
360. The Lagos based FinTech company recently engaged commercial
bankers and other financial sector players on the need to deploy a robust
application that would integrate, modernize and digitize their enterprise credit
risk management process right from origination to repayment.
In
his address, the Group Managing Director of FinTrak Software, Bimbo Abioye
stated that “with the Credit Risk 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 automated valuations such
as stocks, shares and bonds 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, mobile loan
origination, credit documentation, credit appraisal, loan reporting, credit
rating, approval, Credit monitoring, loan restructuring and loan impairment.
The application can be defined as all in one, hence the name “Credit Risk 360”,
he added.
Industry
watchers have lauded the application and defined it as a game changer in the
credit and risk management ecosystem. Presently, the solution is
been deployed in one of the foremost and biggest financial institutions in
Nigeria. This is a testament to the resilient and robustness of the
software that was developed in Nigeria.
In
the words of Chris Sualeze, Core Banking and Credit Implementation Lead,
FinTrak, “This software addresses all the deficiencies and also limits errors
in credit processing and management. The architecture of the solution is highly
flexible; 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 their mobile devices on the go. The Credit Risk 360 Solution is
highly parameterized. Implementation of two factor authentication, data
encryption and other security features embedded in the solution makes it one of
the most secure risk management software in the market.”
Not
yet done, FinTrak Software embedded a feature in the software that sends
periodic notifications and alerts, ensuring that clients and customers aren’t
left out. Customers get periodic alerts from banks on the need to fund their
accounts and meet up with their loan obligations. Apart from electronic alerts
to customers having roles to perform on any transaction, customers are able to
initiate loan requests and get feedback on time. Credit Risk 360 software fully
integrates bank processes and workflows such as account opening & mandates,
credit rating, loan schedule, collateral management, online/real time credit
documentation and a host of other services. The software is available
in various languages.These features and FinTrak’s
robust support program for clients has set Credit Risk 360 in a class of its
own.
FinTrak
Software is a global software development company providing technology and
business solutions to financial institutions in the financial services sector
across Africa. The company consists of experienced professionals with
competencies across IT, Banking, Finance, Audit, Consulting and Software
development. FinTrak Software has successfully implemented over 100 technology
solutions for various financial institutions in Commercial Banking, Mortgage
banking, Insurance, Finance Houses, Development banking and the Manufacturing
sector across Nigeria, Benin, Togo, Cote D’Ivoire, Gambia, Sierra Leone, Ghana,
Senegal, Rwanda, Congo and Zambia, with many more in progress. The company has
won many awards, recently bagging the Best Banking Software and ERP Software
Provider of the year 2018.
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