By Babajide Komolafe
CRC Credit Bureau Limited has announced the release of CRC Risk Calculator, aimed at empowering businesses to make better financial decisions.
The company in a statement said that 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.
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 also uses machine learning algorithms to analyze large volumes of data, providing more accurate and reliable risk assessments.
“The launch of CRC Risk Calculator is a significant milestone for us” said Dr. ’Tunde Popoola, the Group Managing Director/CEO of CRC Credit Bureau Limited. “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. We are committed to providing innovative and reliable solutions that empower businesses to make better informed lending decisions. The CRC Risk Calculator is part of our broader service offerings leveraging technology and data analytics to deliver more value to our customers.”
Source: Vanguard
