12 November 2009
Lagos — In its drive to instal optimum-functionality and cutting edge risk management systems, Fidelity Bank Plc has acquired the globally recognised and respected Credit Risk and Portfolio Management Software known as Creditquest.
The Bank's Head, Corporate Affairs, Sunday Ebong, in a statement, said, this followed the Bank's rigorous evaluation of all existing Credit Risk Software in the market.
Creditquest is a credit risk management and risk processing software which covers retail, corporate and commercial credits. Its features include loan origination, credit memo writing and presentation, credit approval and approval tracking, document management, credit administration, project finance analysis, excellent workflow management and back end credit audit functionality. It provides high-end Base II analytics, risk-based performance measurement and capital evaluation at both the transaction and portfolio levels.
Creditquest is developed by Harland Financial Solutions, USA, represented in West Africa by RiskVision Systems, a subsidiary of H. Pierson Associates Limited.
Head of RiskVision, Mr. Festus Okesade, said the software is designed with the combination of several modules, including Credit Manager, which supports the review, analysis, collaboration and decision making of retail, commercial and corporate credit applications by incorporating workflow, documentation management, account aggregation, risk rating, automated credit memos and relationship management, among others.
According to the Bnak's Executive Director, Risk Management, Onome Olaolu, introduction of Creditquest is part of the Bank's programme to automate her credit processes and introduce a more robust management platform.
Observers believe that this is a very necessary direction for banks in Nigeria as they strive to implement fundamental upgrade of their credit systems.
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