Creditinfo Group has introduced a scorecard solution tailored to help SMEs in Kenya access easy funding from financial institutions.
The global credit information and decision analytics provider says the solution will be rolled out across Africa in due course.
The solution utilises a unique approach to data and algorithms to help financial institutions facilitate financing to the SME market, which has typically been less able to access finance.
This is delivered in a software platform that unifies, streamlines, automates and centralizes the risk evaluation process.
How Banks Track the Creditworthiness of Business Enterprises
Commenting on the new venture, Burak Kilicoglu, Director of Global Markets at Creditinfo, noted that SMEs drive innovation and push digitalization forward for many people by providing services to underserved segments of the population and creating job opportunities.
“SME scorecards will accelerate access to finance for the benefit of the whole economic ecosystem. At Creditinfo we have access to a wealth of credit bureau data as a starting point, and so are uniquely positioned to offer this solution in global markets,” he added.
“Kenya is the most dynamic and receptive market for SME lending innovation, demonstrated by the successful adoption of mobile wallets and microloans. We look forward to seeing the economic impact of this new solution as it comes into full effect and we see more capital flowing through the SME economy,” concluded Kamau Kunyiha, CEO of Creditinfo CRB Kenya.
