Blacklist Limited, a credit management organization, announces partnership with CRC Credit Bureau Limited, to facilitate access to the latter’s over 55 million consumer credit information database via the Blacklist platform (www.blacklistng.com) at a much cheaper price.
The partnership between Blacklist and CRC Credit Bureau entails a technical integration via API, that will allow lenders and companies in general, greater access to relevant credit information for their credit decisioning, and at a much cheaper price than the regular.
Ayoge Bassey the Managing Director of Blacklist limited said that “…Businesses need to be proactive in preventing bad loans in the first place. Access to CRC’s database as well as Blacklist’s alternative credit information will result in increased insight into potential borrowers’ credit behavior and active liabilities, thereby enriching credit decisioning, making it harder for bad-intentioned borrowers to access loans, and consequently increasing available credit to well-intentioned and sufficiently credit-worthy borrowers.”
Dr ‘Tunde Popoola, Managing Director/CEO CRC Credit Bureau Limited said “We believe that lending should no longer take place in the dark. Lenders should be able to take informed decisions using credit information, both negative and positive, as part of their decisioning process. Our partnership with Blacklist will enable fintechs use over 55 million credit data, in addition to other criteria required, to profile their customers within seconds. This is in line with our drive to enable consumers and businesses alike to have easier access to finance”
The benefits of this partnership to members of the Blacklist community include:
Access to over 55 million data records from CRC Credit Bureau and the Blacklist
Access to the CRC Credit Bureau at a lower cost via www.blacklistng.com
Improved insight into borrowers’ willingness and capability to repay loans
Prevent chronic defaulters from accessing loan facilities from the community. This can in turn improve borrowing and repayment culture amongst borrowers.
To improve performing loan rates, profitability, and enhance credit access via financial inclusion, lenders need to focus on preventing bad loans, and for this, data is absolutely necessary. The objective of this partnership is to bring relevant credit data to lenders for wholesome credit profiling of prospective borrowers, at an affordable rate.
Additionally, through Blacklist’s upcoming AI & machine learning-powered recovery platform, members can recover their outstanding debts.
Signing up to become a member of the Blacklist community is free. Fintech lenders can sign up on https://blacklistng.com/ today.