FinTrak Credit Risk 360 deepens narrative for risk management in finance industry

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By Anthony Nwosu

Risk managers in Nigeria’s financial sector could have a winning bet on the rejigged Credit Risk 360 software application by FinTrak, the Lagos based fintech company. FinTrak 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.

“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,” Group Managing Director of FinTrak Software, Bimbo Abioye during the engagement with the financial players.

“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.

“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,” said FinTrak’s Core Banking and Credit Implementation Lead, Chris Sualeze.

Not yet done, FinTrak Software embedded a feature in the software that sends periodic notifications and alerts, ensuring that clients and customers are not 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, said Abioye.


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