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Credit Bureau Launches Solution to Boost Borrowers’ Profiling

 

 

CRC Credit Bureau has launched CRC Returnex, a data enabled solution that provides lending institutions the means of using artificial intelligence to identify and retain borrowers in their portfolio.

A statement on Thursday titled ‘CRC Credit Bureau launches CRC Returnex’ said with this product from CRC, lenders could effectively profile borrowers that would likely take loans again, those that may borrow from other institutions and those who may stop borrowing in entirety or for a duration of time.

It stated, “This innovation in Nigeria, the first in the credit reporting industry, is a solution that enables lenders manage their credit risk exposure while cost effectively channeling their marketing communications activities to the right customer base, thereby saving on marketing spend

“CRC Returnex offers lenders a means of prompt identification and retention of customers through an effective customer management process. With this solution, lenders can detect delinquent customers on time while driving customer loyalty.”

The firm noted that in the new normal, especially with the ongoing pandemic, it was paramount for lenders to become more data focused on all their business operations especially when it comes to risk analysis and marketing.

It stated that it provided various products and services that were data and technology driven which would solve identified pain points for both lenders and borrowers.

“With CRC Returnex, lenders can forecast if a customer has a high or low probability of coming back to access a loan in the future and as well identify the most important metrics for a return customer,” it stated.

The Managing Director/Chief Executive Officer, CRC Credit Bureau Limited, Dr. ‘Tunde Popoola, stated, “CRC has entered a new phase of growth and expansion beyond offering credit solutions.