In a bold move aimed at reshaping risk management in the banking
sector, Fintrak, a leading indigenous fintech solution provider,
recently hosted a groundbreaking event at the prestigious CIVIC Centre.
This event served as a beacon of innovation, shining
a spotlight on Fintrak’s pioneering Credit Risk 360 Solution and its
cutting-edge E-Channel Solutions, customized for modern payment
infrastructures.
Navigating the complex web of financial instruments, banks globally,
Nigeria included, grapple with the formidable challenge of credit risk.
Recognizing the urgent need for a robust risk management framework,
Fintrak embarked on a mission to develop a comprehensive
solution addressing the multifaceted nature of credit risk while
aligning with the diverse operational needs of financial institutions.
At the heart of this endeavor lies the Credit Risk 360 Solution, a
revolutionary platform designed to mitigate risks across various banking
operations. Endowed with a suite of advanced features, Credit Risk 360
offers real-time portfolio monitoring, comprehensive
reporting, and an adaptive technology driven by Artificial Intelligence
(AI) that dynamically adjusts to evolving risk landscapes and
regulatory demands. Bimbo Abioye, Group Managing Director of Fintrak,
elaborated on the platform’s capabilities, emphasizing
its multilingual support catering to African markets and streamlined
collateral management functionalities.
Oluwakemi Kukoyi, a key member of the Fintrak team, underscored the
solution’s versatility and compliance capabilities, highlighting its
robust stress testing and scenario analysis features, essential for
navigating regulatory guidelines effortlessly.
Oluwakemi added that “Fintrak’s Credit Risk 360 Solution encompasses
a suite of essential components crucial for optimizing banking
operations. These include Loan Origination/Collateral Management, which
assists in efficiently handling loan requests and
collateral assets. The Optional Loan Impairment feature ensures
regulatory compliance while addressing loan impairment issues as
required. Corporate Bulk Loan Breaking simplifies the processing of
large corporate loans, enhancing operational efficiency. “
“Our Credit Reporting Software provides comprehensive insights into
credit performance and risk exposure, while Disbursement Execution
streamlines fund allocation for seamless transactions. Loan
Restructuring offers flexibility in adjusting loan terms
to adapt to changing circumstances, and Loan Monitoring enables
real-time tracking of portfolios for proactive risk management. The
Embedded Document Management System organizes and manages crucial
documents for credit processes, while Artificial Intelligence/Machine
Learning enhances risk assessment with advanced analytics. ”
She added that ” Digital Lending facilitates seamless digital
lending processes for improved customer experience, and Credit Bureau
Integration provides access to comprehensive credit data for informed
decision-making. Together, these components form the
foundation of Fintrak’s Credit Risk 360 Solution, empowering financial
institutions with the tools and insights needed to effectively manage
credit risk and optimize operations.”
In addition to its groundbreaking risk management capabilities,
Fintrak’s Credit Risk 360 Solution is complemented by its latest
innovations in E-Channel Solutions, tailored to enhance operational
efficiency and customer experience across payment channels,
thus driving digital transformation within the banking sector.
The event at CIVIC Centre drew a distinguished audience of banking
executives from leading financial institutions, all captivated by the
transformative potential of Fintrak’s solutions. As the event concluded
on a high note, attendees left with a renewed
sense of optimism about the transformative impact of Credit Risk 360 in
reshaping the future of banking and finance in Africa. With a
commitment to excellence and innovation, Fintrak continues to lead the
charge towards a more inclusive and digitally empowered
financial ecosystem across the continent.
FinTrak’s Credit Risk 360 software has already seen successful
deployment in major financial institutions such as Access Bank Plc and
First Bank, with ongoing deployment at Wema Bank Plc and all overseas
subsidiaries of the Access Bank Group. Numerous other
banks across Africa are currently considering or in various stages of
licensing decisions for this strategically vital solution, which
promises to alleviate the complexities facing professionals in credit
risk management activities.
eTimes News Africa 