Credit risk

DataPro, partner of a European company, launches a credit risk management tool

Nigerian technology-focused credit rating agency, DataPro, has partnered with ModeFinance, Europe’s leading fintech rating agency.

The credit risk management tool is said to help businesses navigate the complex terrain of today’s credit risk management and speed up the process of making related information available to businesses.

Speaking at a press conference to announce the launch of the app, named Tigran-for-DataPro, and the partnership, DataPro chief executive Abimbola Adeseyoju said the volume of information and analyzes that credit rating agencies face had made the technology a necessity. .

He said: “When it comes to credit rating, the amount of information, data and statistics that analysts have to grapple with on a daily basis to come to informed conclusions is enough to overwhelm anyone. New technologies such as artificial intelligence, machine learning, blockchain and data analytics have thus contributed enormously to speeding up processes and making them more efficient.

“When the opportunity therefore presented itself in the last quarter of 2021 to partner with Modefinance, the leading FinTech rating agency in Europe, we welcomed it with both hands. This product is a necessity for our economy to overcome some of the challenges associated with credit risk management.

Adeseyoju, who revealed the importance of access to credit facilities for any economy, believed that the synergy would revolutionize and modernize credit risk analysis and management practices.

Speaking at the launch virtually, Mode Finance Managing Director Mattia Ciprian said: “The credit market increasingly needs rapid assessments with high accuracy. At Modefinance, we are committed on a daily basis to supporting organizations all over the world, with a greater emphasis on the African continent.

DataPro Limited’s Rating Manager, Oladele Adeoye, said: “We recognize that credit decision-making must be effective and efficient. This has become necessary today as customers eagerly expect fast, convenient and cost-effective services from vendors. Technology that can help financial institutions and corporations operating on credit make informed decisions is therefore becoming essential.

Mode Finance International Managing Director Cristian Giacomini said, “We are fully committed to transferring our know-how, generating added value for the Nigerian economy and creating a national legacy in the money management sector. credit risk. Our technological innovations in big data, artificial intelligence, data analytics and machine learning are all paving the way for MSMEs to access better financial services. »

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