Risk managers in the Nigerian financial sector would be relieved as FinTrak rejigs one of the most robust 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 update their 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 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 such as stocks, shares and even exchange 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 loan impairment, credit documentation, credit appraisal, loan reporting, approval and loan restructuring. 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 has been deployed in one of the foremost and biggest financial institutions in Nigeria – First Bank Nigeria Plc. This is a testament to the resilient and robustness of the software that was developed in Nigeria.
“For such a solution to come out of the stables of FinTrak, it has demonstrated that the Company has consistently maintained quality, which has even surpassed industry standards. Their Credit Risk solution is so advanced that it can be tailored to suit one’s individual needs unlike the off-the-shelf variants of software available”, said Mr Chineme Emmanuel Eze, Program Manager, Credit Risk Transformation Program – First Bank Plc.
In the words of Chris Sualeze, Core Banking and Credit Implementation Lead, FinTrak, “This software addresses all the deficiencies and also limits errors. 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 the go. The Credit Risk 360 Solution is highly mobile with a parameterized setup. With two factor authentication embedded in the solution, Credit Risk 360 can be said to be 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 C 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 on 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.
By ANTHONY Nwosu
“This software addresses all the deficiencies and also limits errors. 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 the go. The Credit Risk 360 Solution is highly mobile with a parameterized setup. With two factor authentication embedded in the solution, Credit Risk 360 can be said to be one of the most secure risk management software in the market.”