Nigeria: Financial Risk Managers to Deploy AI

17 September 2020

A financial technology (FinTech) firm FinTrak Software Limited, has unveiled its Credit Risk 360 Software which is an end-to-end loan underwriting and management system designed for financial risk managers.

According to a statement issued by the company the software solution has demonstrated robust performance and high level of encryption strengthened with Artificial Intelligence (AI), "and machine learning technologies to drive end-to-end digital lending activities for small ticket loans."

The statement said the software also support loan granting decisions on mid ticket transactions while providing robust loan monitoring system.

In his remarks, the Group Managing Director of the firm, Bimbo Abioye, said the software has been built in line with the global best practice for the financial services sector and public sector intervention funds management.

He hinted that the software also has mobile application which can be used on the go to drive quick transaction turn-around time and enhance operational efficiency.

"FinTrak Credit Risk 360 was designed to help banks meet the need to identify measure, monitor and control credit risk as well as to assist FIs to ensure they hold adequate capital against these risks and that they are adequately compensated for the risks incurred.

The Credit Risk 360 Solutions is a web-based platform that can be easily accessed from all branches of the bank and also through web browsers anywhere in the world through it's highly secured mobile application," Abioye said.

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