DataPro is acclaimed to have first created Rating as a Service (RaaS) tool in Nigeria. At the company’s announcement of its collaboration with Modefinance, first fin-tech credit rating agency in Europe, to launch Tigran Risk Platform in Nigeria, Sunday Vanguard spoke with Ademikun Adeseyoju, Team Lead, Data Protection Compliance of DataPro, and she maintained it’ll boost fin-tech issues in the traditional “5 Cs” that are used to determine Creditworthiness, which are in Capacity, Capital, Collateral, Conditions and Character, amongst others. Excerpts:
When you were announcing the collaboration between DataPro and Modefinance, you mentioned the data gap between Nigeria and advanced world, in what specific terms would this deal bridge the gap?
The 5Cs are Capacity, Capital, Collateral, Conditions, and Character. With the introduction of our disruptive technology, users are able to perform similar analyses based on financial information. We expect the tool to revolutionise the standards and requirements for financial information as it relates to credit evaluations.
This is a collaboration that is riding on the technological advancement of European expertise via our partner Modefinance. In our journey, we expect there will be a transfer of knowledge and technical expertise that will be to the benefit of both parties.
Regarding our clients or in this case the users of Tigran-for-DataPro, there’s a level of diversity in their needs, however, the primary requirement is the quality of the credit opinion the tool offers. Our clients that use credit reports require quality opinions that speak to investment decisions.
Our advisory clients expect a quality opinion that meets their level of professionalism and offers a quick turnaround time. We also have retail customers that require quality opinions that enable them to make smart credit decisions. We hope to contribute our quota to developing the credit culture in Nigeria through the introduction of this Rating as a Service tool.
How does Artificial Intelligence work with the Tigran Risk Platform?
The incorporation of machine learning techniques contributes to our creditworthiness predictions and assessments. We also offer fully customizable models based on the needs of our users.
Can you go into specific details of how DataPro would benefit from this deal?
In line with our vision of being Nigeria’s technology-driven credit rating agency, the partnership has facilitated the adaptation and adoption of technology in the offering of our various services. Ultimately, we expect there will be a cross-fertilization of knowledge and expertise.
The introduction of Tigran-for-DataPro boosts the automation of our process and will enable us to advance our core ethos which is fast and efficient service delivery.
What key competitive advantages would this deal give DataPro?
Through our collaboration with Modefinance, DataPro has introduced the first Rating as a Service (RaaS) tool in Nigeria. This Credit Management tool enables our clients to have real-time, on-demand access to retail rating services. The introduction of Tigran-for-DataPro into the Nigerian market rings true to our vision of being Nigeria’s technology-driven credit rating.
What does this collaboration imply for your other services like providing compliance solutions, third party verification services and business information reports?
At the heart of every Credit Decision is also Due Diligence and Know Your Customer exercises. These are key aspects of Credit Management, we expect some economy of scale across all our services, as an improvement in one will improve all.
