Creditinfo SME Scorecard Solution Heading for Kenya

Creditinfo SME Scorecard Solution Heading for Kenya

Through its unique approach to data and algorithms, this scorecard will help financial institutions improve their credit assessment and facilitate financing to the SME market, which has typically been less able to access finance. Whilst recognising the importance of a holistic approach to SME risk assessment, Creditinfo is aiming to roll out a global solution to address this challenge. The company is expected to introduce their SME scorecard first in Kenya, ahead of a wider rollout across neighbouring African nations; followed by an implementation within several other key economies across the world. The unique modelling approach Creditinfo has developed significantly reduces, and in some cases eliminates, the human effort needed to assess customers' risk profile based on credit data. It is delivered in a software platform that unifies, streamlines, automates, and centralises the risk evaluation process. The incorporation of these elements has demonstrated Creditinfo's SME scorecard to be considerably more efficient at predicting business failure than existing traditional models. "SMEs drive innovation and push digitalisation forward for many people by providing services to underserved segments of the population and creating job opportunities," comments Burak Kilicoglu , Director of Global Markets at Creditinfo. "SME scorecards will accelerate access to finance for