CRC Credit Bureau Limited has released its CRC Risk Calculator, aimed at empowering businesses to make better financial decisions.
A statement said the “CRC Risk Calculator accurately predicts how risky a customer is with respect to approving credit requests. The algorithm uses a risk scale to classify loan applicants using over two years of historical credit data.”
It added that, the CRC Risk Calculator evaluates multiple factors, including the number of performing and non-performing loans of the borrower, current loan balance, overdue amounts on the borrower’s credit profile, credit score, among others.
The calculator, it added, also used machine learning algorithms to analyse large volumes of data, providing more accurate and reliable risk assessments.
The Group Managing Director/Chief Executive Officer, CRC Credit Bureau Limited, Dr. ’Tunde Popoola, said, “The launch of CRC Risk Calculator is a significant milestone for us. We believe that access to accurate and reliable information is critical for making informed financial decisions.
“The Risk Calculator is designed to provide lenders with a clear understanding of the riskiness of borrowers, which is crucial for granting credit facilities, and other financial services.
“We believe that the CRC Risk Calculator will be a game-changer for businesses looking to make better financial decisions.”
He said it was committed to providing innovative and reliable solutions that empowered businesses to make better informed lending decisions.
The calculator, he noted, was part of its broader service offerings leveraging technology and data analytics to deliver more value to our customers.
The Chief Commercial Officer of CRC, Peggy Chukwuma-Nwosu, Peggy Chukwuma-Nwosu, said, “We understand that many businesses require insights to evaluate their customers’ creditworthiness.
“The CRC Risk Calculator simplifies this process, providing lenders with a clear picture of their borrower’s risk profile. This is particularly important as lenders and credit grantors use credit scores and risk assessments to determine eligibility and loan terms.”
