Blacklist Limited, A Credit Management Company Partners With CRC Credit Bureau, To Give Lenders Better Access To Relevant Credit Information

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Blacklist Limited, a credit management organization, announces a partnership with CRC Credit Bureau Limited, to facilitate access to the consumer credit information database of over $ 55 million of the latter through the platform. Blacklist form (www.blacklistng.com) at a much cheaper price.

The partnership between Blacklist and CRC Credit Bureau involves technical integration via API, which will allow lenders and businesses in general better access to credit information relevant to their credit decisions, and at a much cheaper price than normal.

Ayoge Bassey, Managing Director of Blacklist limited said that “… Businesses must be proactive in preventing bad debts in the first place and access to the CRC database as well as blacklisted alternative credit information will result in a better understanding of credit behavior.” potential borrowers and active liabilities, thus enriching the credit decision, making it more difficult for borrowers. bad borrowers to access loans, and therefore increase the credit available to well-meaning and sufficiently creditworthy borrowers.

Access to credit for unbanked and underbanked populations is increasing considerably, and particularly in Africa. Likewise, credit fraud is on the increase. Credit fraud manifests itself in several ways such as identity fraud, where people’s bank details are stolen and loans are fraudulently taken on their behalf. People take advantage of the decentralization of personal and credit data and can take out multiple loans from different lenders, without intending to pay, thus playing on the system.

The consequence is that nonperforming loans increase, lenders struggle for profitability, lenders go out of business or in order to manage losses, increase interest rates astronomically, the cost of borrowing increases for borrowers, and, finally, access to credit decreases. It is certainly not healthy for a growing economy.

We believe that lending should no longer be done in the dark. Lenders should be able to make informed decisions using credit information, both negative and positive, as part of their decision making process. Our partnership with Blacklist will allow fintechs to use over 55 million credit data, in addition to other required criteria, to profile their customers in seconds. This is in line with our desire to allow consumers and businesses to have easier access to finance.Dr ‘Tunde Popoola, Managing Director / CEO CRC Credit Bureau Limited.

To improve loan performance, profitability, and improve access to credit through financial inclusion, lenders need to focus on bad debt prevention, and for that, data is absolutely necessary. The goal of this partnership is to provide lenders with relevant credit data for a healthy credit profile of potential borrowers, at an affordable rate.

To learn more about the blacklist and how to access both the blacklist and the CRC when making your clients’ credit decisions, read our blog (https://www.blacklistng.com/blog), or visit blacklist (https: //www.blacklistng. com /).

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