Business Technology Trends

Bringing Efficiency to Credit Risk Management process using FinTrak Credit 360 Software

Fintrak Software Limited, Nigeria’s foremost indigenous financial technology (Fintech) solution provider with physical presence in some African countries recently brought the banking and financial industry stakeholders together to update them on their robust Credit Risk Management solution known as FinTrak Credit Risk 360. The industry experts applauded the software as a robust indigenous solution for banks in Africa.

Speaking during the presentation, the Group Managing Director, Bimbo Abioye stated that “FinTrak software delivers customized state of the art business transformation solutions that can intelligently combine efficiency with critical information needed for management decision-making process. FinTrak Credit 360 software has been able to improve user banks overall operational efficiency by over forty percent through automated strategic and digitized policy controls”

In order to limit human error to the barest minimum, Credit 360 solution comes with artificial intelligence (AI) features. This feature can be used to work on corporate, retail and digital lending programs and the goal is to provide visibility and control of loan processes and to digitalize it, this is from customer interaction to the complete life cycle of a typical credit transaction. The solution is integrated with robust document management system providing capability for operators to work remotely even on their mobile devices. The Credit 360 software for credit managers is mobile friendly for optimized transaction turnaround times with paperless transaction capabilities. The software has been proven to make loan underwriting easier and seamless.

A cross section of participants and industry players

Coming in two major languages, English and French, the new Credit 360 software has been described as industry leader and benchmark, a testament of what FinTrak Software Co. Ltd can create. With its ability to be customized to fit into the organization environment. The FinTrak Credit Risk360 has the capacity to adapt to client’s specific requirements via an intuitive graphical administration platform based on the business and compliance rules management system. Another unique attribute of the software is the Dynamic Alert and Notification Module in system popup, email and SMS formats. This feature helps in optimizing compliance monitoring, reporting and transparency.

With a high level of integration with other banking systems, the system requires no manual postings and update activities on the core banking system and data exchanges happen between the two systems via API, Fintrak Credit 360 risk management software supports all operational/analytical credit risk management processes such as reporting, annual, monthly, weekly financial statement analysis and rating; on a central platform. The Credit 360 risk management software is a complete solution on its own. The FinTrak Credit Risk 360 supports registration and interaction with accredited vendors, allowing auto payment to solicitors, capture of remedial and recovery efforts, auto selection and assignment of recoveries to external agencies, and loan sales.

With a multi lingual approach basically in English and French, the software tracks everything relating to business subjects and people. The platform is written to do dynamic underwriting, loan management and analyst rating that can embedded in dynamic approval routing. FinTrak Credit Risk 360 ensures maximum auditability for model administration as well as during the operational execution of processes such as risk rating and financial spreading. Other features of the solution include Robust Collateral Management Module for Collateral sharing, Utilization history and exposure, Multiple contract allocation, Collateral swap, Location tracking, Collateral rating, Collateral Valuation, Collateral realization, Collateral document file tracking, Covenants tracking and many more.

Top bankers such as Olamide Olayeni, a Credit Manager from Standard Chartered Bank said that “The solution from the presentation is a robust and one-shop platform, and the feedback from what banks and users are saying confirms that it is what every bank needs to look at. I will get back to my organization and engage them on the need to look at the Credit Risk 360 software. It is a one stop solution as opposed to other software where you can have things subscribed differently.” Jafaru, the head of Credit and Risk Management, Bank of Industry (BOI) said that “this is a great privilege to be here and see what this software is doing. We have been doing some of these things manually and we have now extended the invitation to the company so that they can come to our office and explain this better to us. We are impressed with the software. The credit monitoring software has many features that are great, the issue of alert that helps managers to monitor instruments. “

Participants making inquiries on the risk management software – Credit Risk 360 Solution

Paul Asiemo, Head, Risk Management for Access Bank also said that, “the software takes care of Bassel, this software looks at regulating reporting and others, there are specific things that this software does that sets it apart from others. We have been FinTrak Software solutions in our bank for over fifteen years ago and we are impressed with what they have done. Using Credit Risk 360 software in Access Bank has shown how flexible the software is. The software insulates you from many documentation issues such including forex issues associated with foreign software purchases etc. The Credit Risk 360 software is very adaptable and can be changed to fit into your banking environment.

FinTrak Credit Risk 360 has an embedded Enterprise Document Management System which can be used to receive, track and manage and audit documents; it also supports correspondence with third parties’ applications. With its web functionalities, Credit Origination and Approval activities can be done from anywhere in the world with connection to the internet. This feature helps executives make critical decisions, execute transactions and access reports and dashboard from any geographical location.

FinTrak Credit Risk 360 software has been deployed in some large financial institutions such as Access Bank Plc, First Bank and is currently in deployment at Wema Bank Plc and all overseas subsidiaries of Access Bank Group. So many others banks in Africa are currently at different stages of licensing decision of this highly strategic solution that burst all headaches facing professionals in credit risk management activities.


Leave a Comment

Your email address will not be published.

You may also like

Agriculture Business Featured Finance News Society Sponsored Technology Telecoms




Information technology is a driver of any sector and boosts productivity; agriculture inclusive. In a bid to ensure that food production and security are improved, AFRIMASH Company Limited, an indigenous agriculture eCommerce platform has introduced a ground-breaking USSD technology and Agent Network system for farmers to have access to farm inputs at the click of a button. The Company has been described as innovative and the first of its kind in the country by industry watchers and stakeholders. Afrimash is positioned to improve the way farmers are engaged in the rural parts of the country using these two technologies.

Our USSD code, *2282*2#, and Agent Network System are unique in the Agri-tech ecosystem and are posed as solutions to the challenges farmers face in rural communities. Speaking to the media on the importance of the newly introduced USSD technology, Ayoade Ahmed Oyedotun, the Chief Executive Officer and Co-Founder of Afrimash…

Read More
Business Events Investments News Society Technology Trends






Fintrak Software Limited, an indigenous financial technology firm based in Lagos with an international footprint in various African country recently held banking and financial industry of Rwanda in awe with the reintroduction of their solution known as ENTERPRISE PERFORMANCE MANAGEMENT SOLUTION. A software application that is designed for businesses to boost productivity and reduce human error in all the areas of their enterprise. The Fintech also presented their credit management solution known as CREDIT MANAGEMENT SOLUTION, the event was held at the KIGALI MARRIOT HOTEL, in the Rwandan capital City.

Speaking to the Rwanda financial ecosystem, the company described the Credit management solution as a software that was designed to help banks meet the need to identify, measure, monitor and control credit risk as well as to determine that they hold adequate capital against these risks and that they are adequately compensated for risks incurred. The Credit Risk 360 solution…

Read More
Announcements Business Finance Gadgets Technology Technology Trends Trends

Binance Announces Global Advisory Board


Binance (, the world’s largest cryptocurrency exchange by trading volume, is pleased to announce the creation of its new Global Advisory Board (GAB), comprised of distinguished experts in public policy, government, finance, economics, and corporate governance.


The Global Advisory Board, chaired by former US Senator and Ambassador to China, Max Baucus, recently convened in Paris, France. The board’s purpose is to advise Binance on some of the most complex regulatory, political, and social issues the entire crypto industry faces as it grows and evolves at a fast pace.

“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3,” said Binance founder and CEO Changpeng Zhao. “In that time, we’ve tackled complex issues no one even knew existed. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users, while keeping…

Read More
Business Fashion Society Sponsored Tourism Travels Trends

Africana X plosion – From Nigeria to the World; Africana set standards for success in Africa


The merry sound of clinking glasses, hearty laughter and afrobeats music permeated the cool September evening at Rue Marconi Zone 4, a posh business district in the Ivorien port city of Abidjan. The motley crowd of extremely well and colourfully dressed individuals gathered at the brilliantly lit venue were celebrating the grand opening of an Africana X ( flagship store – the first of its kind outside of Nigeria.



By establishing this new store in Abidjan, a city that widely reflects the culture of French speaking West Africa, the Africana ( brand made significant statement of intent – that they are taking the lead in the movement to propagate African fashion on a global scale.

Perhaps, this explains…

Read More
Announcements Business Education Events Featured Investments News Society Tourism Travels Trends





The need for people to have international exposure in today’s highly competitive workplace becomes important and imminent. This has made a lot of Nigerians to think of schooling in reputable international universities that will avail them the great opportunities of modern workplace and globalized world. In line with this narrative, Think Canada Fair is bringing to Nigerians that are willing to utilize the opportunities of schooling in Canada a platform with Canada 2023 at Nigeria’s Biggest Study Fair this October.

The Think Canada Fair is bringing together an array of top Canadian Universities, alongside their representatives, to the biggest study fair in Nigeria. Happening across 3 major cities in Nigeria, the annual event is scheduled to be held in Lagos, Abuja and Port Harcourt on October: 14th, 15th, 18th and 20th 2022 respectively.

Speaking to the media in a press conference, the Marketing Manager, Femi Olatunji said, “we are looking forward…

Read More
Business Events Health Interviews News Opinion Society




Baby formula has been expensive and one of the biggest fear that new parents have. In short in Nigeria they will tell you that one should use protection because the cost of NAN and other cereal is expensive. Having seen and noticed the plight of Nigerian in terms of feeding their infants with good foods that are created specifically for the Nigerian infants. Roberta Edu, a serial businesswoman and a core IT expert established Moppet to cater for these sets of Nigerians.

Just after a year of doing business. A business that came up during the COVID 19 lock down when shops where closed and there is need to feed kids. Being a mother Roberta researched on the best way to feed her lovely child when the shops and malls are closed. She came up with Moppet. A business born out of idea and COVID 19 lock down.

Speaking on the…

Read More
Business Investments News Security Society Technology Technology Trends

Ukheshe and Digital PayGo drive Zambian business growth through the SME in-a-box Merchant Solution


Ukheshe’s SME in-a-box solution is making tangible changes to the lives of millions in Zambia through a partnership with Digital PayGo, improving financial inclusion and enhancing business dealings for entrepreneurs.

Digital PayGo, a local Zambian fintech driving a mobile-first approach, enhancing the digital payment space for SMEs, is the first partner to utilise Ukheshe’s SME in-a-box solution to its fullest extent and provides a range of virtual financial services to its customers.

“We’re so proud to be the technology partner enabling Digital PayGo in their partnership with Zambian bank Zanaco and Mastercard to implement this solution,” says Mark Dankworth, President of Business Development in Africa at Ukheshe.

“In line with Mastercard’s vision of enabling 50 million SMEs by 2025, the relationship between Ukheshe and Digital PayGo was a natural fit, given our shared…

Read More
Business Society Technology




The National Information Technology Development Agency (NITDA) has continued to display its commitment to the sustainability of a digitally transformed Nigeria by engaging the workforce of various Federal Public Institutions (FPIs) in capacity development programmes to create a digitally formidable federal public service towards the realization of a digital Nigeria.

This was revealed at the closing ceremony of a capacity-building programme organised by NITDA for 100 participants from Ministries, Departments and Agencies (MDAs), Military and Paramilitary agencies who were trained on Digital Literacy and Skills, Cybersecurity Essentials and Cloud Computing.

Giving his closing remark at the event, the NITDA Director General of NITDA, Kashifu Inuwa CCIE expressed his pleasure at the participants for their active participation and contribution to class activities throughout the programme while urging them to be good ambassadors of the knowledge gained in their various organisations.

The DG who…

Read More