By Cynthia Alo
CRC Credit Bureau Limited has announced a data-enabled solution, CRC Returnex, which will provide lending institutions with the means of using artificial intelligence to identify and retain borrowers in their portfolio.
A statement by the firm said the platform would enable lenders to effectively profile borrowers that will take loans again or those that may borrow from other institutions and those who may stop borrowing in entirety or for the duration of time.
Commenting on the development, Managing Director and Chief Executive Officer, CRC Credit Bureau, Mr Tunde Popoola said: “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 channelling 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.
He stated: “CRC has entered a new phase of growth and expansion beyond offering credit solutions. We are evolving into a data analytics company.
As a data company, we would ensure that beyond providing credit data, our customers are empowered to use data to improve their business operations and make informed decisions. With CRC Returnex, our customers can efficiently and effectively manage their customer retention and marketing activities.”