Identify creditworthy borrowers, manage the risk involved in extending credit and recover unpaid debt.
Know Your Customer (KYC) is a product used to assess and verify the identity of a customer. This involves collecting basic information such as names, BVN, date of birth, addresses, phone number, national identification number or a valid driver’s licence. This information could also be verified from our credit information database. Our KYC product is a key tool for prequalifying your borrowers.
Our Credit Report helps determine the credit rating and standing of customers before approving credit lines to them. It also gives an insight into all of an individual’s or corporate entity’s credit account summary, with details of open, closed (paid-off), good standing (performing) accounts broken down throughout the report.
Our SMARTScore V3 report is a summarized report card which shows the credit status of a data subject using numbers. It is CreditRegistry’s internally generated numerical expression that ranges between 0 - 900 based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. We have two categories of number ranges that help classify the ratings. They are:
Some characteristics of our SMARTScore v3 are:
These are just some of the benefits of our SMARTScore:
Here is a breakdown of our Credit Reports and their features:
CreditRegistry is Nigeria’s Largest Credit Bureau providing credit risk management tools for effective credit management by lenders in Nigeria’s financial industry. In furtherance to the Central Bank of Nigeria’s regulatory directive through a circular dated June 28 th 2016, directing all banks to implement measures to dissuade the issuance of dud cheques, we have deployed our Dud-Cheque Information Manager (DIM). DIM helps your bank to meet the CBN requirements to prevent serial dud-cheque issuers from accessing the clearing system and/or credit.
Our PMR is a monitoring report that allows an institution to see its portfolio exposure details across the industry. Our portfolio monitoring report will enable creditors to accomplish the following:
Some of its features are:
It allows the institution to know which customer to Mind, Manage, Mitigate and Market.
Our Campaign Report enables institutions to determine which customers in a portfolio of prospects are creditworthy using credit bureau information. This service helps institutions find out the creditworthiness of their existing customers with the bureau that can be converted to liability customers. This helps them in the following ways:
Results include a qualified list of prospects classified into two major categories of Good and Bad based on your specified criteria. Additional information may be included in the campaign report to assist with rank ordering customers such as performance status, SMARTScores, balances, credit limits, account types and more.
Enhanced Search Listing provides the opportunity for lenders to find matching prospective customers based on your stipulated criteria. The Enhanced Search Listing enables a creditor to specify the category/class of customers that you are interested in and the bureau would provide details of persons/entities that match the specified criteria. With these details, you can go on to contact qualified customers with specific credit products. The benefits of the Enhanced Search Listing service include:
Industries this is useful to: FinTech, Commercial Banks, Renewable Energy Companies, Microfinance Banks, Manufacturers, Telcos, Travel Agencies, Real Estate, Finance Houses, Law Firms, Recruitment Agencies, and many more
Skip Tracing Report gathers additional information from other subscribers on the bureau to locate a borrower that has otherwise skipped (i.e. no longer accessible through current contact information on your company file). The effectiveness of a recovery process is usually dependent on the ability to track down debtors to their current contact details such as home address, office address, phone number etc.
CreditRegistry’s Skip Tracing Report helps trace debtors who cannot be reached after they have moved from their residential address and possibly changed phone numbers or employment. This service would furnish additional details for contacting the debtors other than the details the company currently has on its records. CreditRegistry’s powerful skip tracing tool returns the following to improve your skip tracing efforts: