The Nation Newspaper

Tag: CRC Credit Bureau

  • 30m Nigerians now have credit scores, says CRC Credit Bureau

    30m Nigerians now have credit scores, says CRC Credit Bureau

    CRC Credit Bureau has stated over  30 million Nigerians now have credit scores from its repository. 

    It said the  milestone highlights its commitment to enhancing financial inclusion and fostering economic growth in Nigeria.

    Throwing more light on the importance of Credit Scores in a statement, the firm said credit score is a numerical representation of an individual’s creditworthiness, derived from their credit history. It serves as a critical tool for lenders in assessing the risk of lending to a borrower. 

    “And with over 30 million Nigerians now possessing credit scores, the financial system becomes more inclusive and transparent, allowing more individuals to access credit facilities previously out of reach.

    “The attainment of this milestone signifies more than just a number. It represents empowerment. With credit scores, individuals and businesses alike can secure loans more easily and at better rates. This accessibility to credit can lead to increased financial inclusion, economic growth, and personal advancement. 

    “More Nigerians can now participate in the formal financial system, gaining access to loans, mortgages, and other financial products. 

    “With easier access to credit, businesses can expand operations, invest in new ventures, and drive economic development. Individuals can pursue personal goals such as homeownership, education, and entrepreneurship with the backing of accessible credit.

    “Reaching 30 million credit scores is just the beginning as CRC Credit Bureau is committed to driving further financial inclusion and economic empowerment in Nigeria,” the company explained. 

    Read Also: 50% electricity subsidy for varsities, teaching hospitals

    According to the Group  Managing Director/CEO of CRC Credit Bureau,  Dr. Tunde Popoola: “Our goal is to ensure that every Nigerian, irrespective of their economic status, has the opportunity to build a credit history. We will continue to invest in educational programs to help individuals understand and improve their credit scores. Leveraging the latest technology, we will enhance our services to provide even more accurate and comprehensive credit information.”

    ‘CRC Credit Bureau has been at the forefront of this transformation. Through relentless efforts in data collection, analysis, and technology adoption, we have made it possible for millions of Nigerians to build and maintain credit histories. Our services extend beyond mere credit scoring; we provide comprehensive credit reports, advisory services, and educational programmes aimed at improving financial literacy.

    ” As we look to the future, we remain dedicated to empowering individuals and businesses, driving economic growth, and making financial inclusion a reality for all Nigerians.”

  • CRC Credit Bureau wins international award

    CRC Credit Bureau wins international award

    CRC Credit Bureau has emerged the Best Credit Bureau Nigeria 2024 by the Capital Finance International (CFI), marking the fourth consecutive year of this esteemed recognition.

    The award reaffirms its unwavering commitment to excellence, innovation, and leadership in the financial information sector.

    CRC embarked on transformative initiatives aimed at fortifying infrastructure, expanding service capabilities, and ensuring robust security measures for its valued clients. Key advancements included the implementation of a state-of-the-art Cloud Web Application, Firewall and the adoption of a hybrid cloud strategy leveraging AWS Local Zone, enhancing scalability and operational efficiency.

    Group Managing Director/CEO at CRC Credit Bureau, Tunde Popoola said: “We are honoured to receive the Best Credit Bureau Nigeria award from CFI for the fourth year running. This achievement underscores our dedication to pioneering solutions that elevate industry standards and empower financial decision-making across Nigeria”.

    CRC also introduced innovative services like the CRC B-C-B API and CRC RAAS (Reseller as a Service), facilitating secure data access and seamless integration of credit services for our partners. These initiatives complemented our commitment to enhancing user experience through continuous optimization of our core application, SB2, Popoola stated.

    Read Also; How to prevent fire outbreaks, by experts

    Beyond technological advancements, CRC expanded its institutional network significantly in 2023, welcoming approximately 200 new members. Educational webinars on credit awareness further underscored CRC’s commitment to financial literacy and empowerment, he added.

    Group Chief Operating Officer at CRC Credit Bureau, Jelilat Kareem, said: “Our success is a testament to the dedication and expertise of our team, whose relentless pursuit of excellence continues to drive CRC’s leadership in the credit information industry. We extend our heartfelt thanks to CFI for this prestigious accolade and remain committed to delivering innovative solutions that shape the future of finance in Nigeria”.

    According to her, with over a decade of experience, CRC Credit Bureau has emerged as the leading data company in the industry, catering to diverse information needs cutting across data and analytics, credit management and consulting services, financial education and training, and rental screening services.

    Our comprehensive range of products and services ensures that you have access to accurate information, enabling better strategic decisions, she added.