Microfinance • Insurance • Pensions • Investments
     
 

MIP Financial Solutions launch credit appraisal software

MIP Financial Solutions has introduced a Credit Appraisal Software to Nigeria’s growing Microfinance Banking Industry. The product was launched in Lagos to a set of credit officers from 5 different Microfinance Banks on 13th February 2009. The product was applauded by the representatives of the 5 Banks who participated in a special 2 days programme titled “Automated Credit Appraisal System for Microfinance Banks”.

As mentioned by the Managing Director of MIP Financial Solutions in the training sessions, The Software, called "Credit Appraisal Wizard" is flexible, user friendly and highly adaptable. The benefits includes the following;

 
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Significant reduction in the supervision time spent by the Executive Management on Credit Appraisal since the approval process is reduced to routines that can be handled by any credit officer.
 
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Sound and efficient pricing of credit based on clear predetermined criteria set by the bank.
 
  >> Allows for efficient use of available funds for the best credit applications.  
  >> Provides justifiable basis for rejecting credit application.  
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Serves as motivation for loan customers to improve their credit ratings
 
According to one of the participants, “the efforts made to have package this kind of software for MFB’s is a laudable one. Keep it up”.
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