Telecom
FinTrak Rallies Stakeholders on Efficient Credit Risk Management Using ‘FinTrak Credit 360 Software’
Fintrak Software Limited, Nigeria’s foremost indigenous financial technology (Fintech) solution provider has rallied together banking and financial sector stakeholders on the need to adopt its robust Credit Risk Management solution known as FinTrak Credit Risk 360.
Speaking during the presentation, Bimbo Abioye, Group Managing Director, Fintrak Software Limited, stated that FinTrak software delivers customized state of the art business transformation solutions that can intelligently combine efficiency with critical information needed for management decision-making process.
He noted that FinTrak Credit 360 software has been able to improve user bank overall operational efficiency by over forty percent through automated strategic and digitized policy controls”
“In order to limit human error to the barest minimum, Credit 360 solution comes with artificial intelligence (AI) features.
“This feature can be used to work on corporate, retail and digital lending programs and the goal is to provide visibility and control of loan processes and to digitalize it, this is from customer interaction to the complete life cycle of a typical credit transaction.
“The solution is integrated with robust document management system providing capability for operators to work remotely even on their mobile devices.
“The Credit 360 software for credit managers is mobile friendly for optimized transaction turnaround times with paperless transaction capabilities. The software has been proven to make loan underwriting easier and seamless,” he stated.
Coming in two major languages, English and French, the new Credit 360 software has been described as industry leader and benchmark, a testament of what FinTrak Software Co. Ltd can create.
With its ability to be customized to fit into the organization environment. The FinTrak Credit Risk360 has the capacity to adapt to client’s specific requirements via an intuitive graphical administration platform based on the business and compliance rules management system.
Another unique attribute of the software is the Dynamic Alert and Notification Module in system popup, email and SMS formats. This feature helps in optimizing compliance monitoring, reporting and transparency.
With a high level of integration with other banking systems, the system requires no manual postings and update activities on the core banking system and data exchanges happen between the two systems via API, Fintrak Credit 360 risk management software supports all operational/analytical credit risk management processes such as reporting, annual, monthly, weekly financial statement analysis and rating; on a central platform.
The Credit 360 risk management software is a complete solution on its own. The FinTrak Credit Risk 360 supports registration and interaction with accredited vendors, allowing auto payment to solicitors, capture of remedial and recovery efforts, auto selection and assignment of recoveries to external agencies, and loan sales.
With a multi lingual approach basically in English and French, the software tracks everything relating to business subjects and people. The platform is written to do dynamic underwriting, loan management and analyst rating that can embedded in dynamic approval routing.
FinTrak Credit Risk 360 ensures maximum auditability for model administration as well as during the operational execution of processes such as risk rating and financial spreading.
Other features of the solution include Robust Collateral Management Module for Collateral sharing, Utilization history and exposure, Multiple contract allocation, Collateral swap, Location tracking, Collateral rating, Collateral Valuation, Collateral realization, Collateral document file tracking, Covenants tracking and many more.
Olamide Olayeni, a top banker and Credit Manager from Standard Chartered Bank said that “The solution from the presentation is a robust and one-shop platform, and the feedback from what banks and users are saying confirms that it is what every bank needs to look at. I will get back to my organization and engage them on the need to look at the Credit Risk 360 software.
It is a one stop solution as opposed to other software where you can have things subscribed differently.” Jafaru, the head of Credit and Risk Management, Bank of Industry (BOI) said that “this is a great privilege to be here and see what this software is doing. We have been doing some of these things manually and we have now extended the invitation to the company so that they can come to our office and explain this better to us. We are impressed with the software. The credit monitoring software has many features that are great, the issue of alert that helps managers to monitor instruments. “
Paul Asiemo, Head, Risk Management for Access Bank, said, “that the software takes care of Bassel, this software looks at regulating reporting and others, there are specific things that this software does that sets it apart from others.
“We have been using FinTrak Software solutions in our bank for over fifteen years ago and we are impressed with what they have done.
“Using Credit Risk 360 software in Access Bank has shown how flexible the software is. The software insulates you from many documentation issues such including forex issues associated with foreign software purchases etc.
“The Credit Risk 360 software is very adaptable and can be changed to fit into your banking environment”.
FinTrak Credit Risk 360 has an embedded Enterprise Document Management System which can be used to receive, track and manage and audit documents; it also supports correspondence with third parties’ applications. With its web functionalities, Credit Origination and Approval activities can be done from anywhere in the world with connection to the internet. This feature helps executives make critical decisions, execute transactions and access reports and dashboard from any geographical location.
FinTrak Credit Risk 360 software has been deployed in some large financial institutions such as Access Bank Plc, First Bank and is currently in deployment at Wema Bank Plc and all overseas subsidiaries of Access Bank Group. So many others banks in Africa are currently at different stages of licensing decision of this highly strategic solution that burst all headaches facing professionals in credit risk management activities
Nigeria, through the Nigerian Communications Commission (NCC), has won the 2025 World Summit on the Information Society (WSIS) prize for its project, the Digital Awareness Programme (DAP), under Category C3, which is on Access to Information and Knowledge.
L–R: Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, receives the WSIS 2025 Prize (Category C3: Access to Information and Knowledge) from the Secretary-General of the International Telecommunication Union (ITU), Doreen Bogdan-Martin, following the selection of the Commission’s Digital Awareness Programme (DAP) as winner of the category.
The DAP, one of hundreds of projects submitted for the WSIS Prizes competition 2025, received the highest number of votes in its category, earning it the top honour. The programme equips secondary schools across the country with Information and Communication Technology (ICT) resources and provide internet connectivity to support teaching, learning, and research. Since inception in 2006, over 300 schools across Nigeria’s six geopolitical zones have benefitted from the programme.
The Executive Vice Chairman of the NCC, Dr. Aminu Maida, received the award during the WSIS Prizes Winners 2025 Ceremony held on Monday in Geneva, Switzerland.
In his acceptance remarks, Dr. Maida thanked the hosts, the International Telecommunications Union (ITU) and WSIS, for recognising Nigeria’s efforts in promoting inclusive digital access across Nigeria, noting that the award would serve as further motivation for the Commission.
“This recognition is more than a celebration of past efforts—it is an encouragement to press forward. It affirms that investing in digital inclusion is investing in national development, and that Nigeria’s work is being seen and valued on the global stage,” Dr. Maida said.
Four other Nigerian projects—the Women Techsters and the Advanced Digital Empowerment Programme for Tertiary Institutions (ADEPTI) under Capacity Building, the Telecom-Based Research Grant Initiative under Enabling Environment, and the Digital Learning Initiative under e-Learning—were also celebrated for their nomination for the Champions Category of Projects at the WSIS Prizes Ceremony. Although they were not among the top-voted entries, they were acknowledged for their significant merit and impact.
The WSIS Prizes competition recognises and promotes projects that effectively leverage ICTs to advance sustainable development. The competition showcases how technology can serve as a powerful tool for addressing global challenges and achieving the SDGs. Projects from around the world are recognised annually, highlighting diverse approaches to building an inclusive information society.
The World Summit on the Information Society (WSIS) is a United Nations (UN) initiative aimed at building a people-centred, inclusive, and development-oriented information society. It provides a multi-stakeholder platform to address issues related to Information and Communication Technologies (ICTs) and their role in achieving sustainable development.
The Forum is an annual event that brings together high-level representatives from governments, the private sector, civil society, academia, the technical community, and international organisations. It serves as a global platform for implementing the WSIS Action Lines, which are aligned with the UN Sustainable Development Goals (SDGs).
Nigerian Communications Commission (NCC) has given telecom tower operators in the country August 2025 deadline to fix persistent network hitches in their facilities or face regulatory sanctions.
The Executive Vice Chairman (EVC) of the commission, Dr. Aminu Maida, reportedly gave the ultimatum during a high-level meeting with key industry players, attended by representatives of IHS Towers, American Tower Corporation (ATC), and Pan-African Towers, and mobile network operators (MNOs) in Abuja
According to sources, discussions at the meeting focused on the recurring challenges in the telecoms sector, particularly power failures, equipment malfunctions, and insufficient site maintenance, that have been causing poor Internet and call services in the country
Specifically, Maida tasked the tower operators on the imperative of complying with the NCC’s updated Quality of Service (QoS) framework, which now extends performance obligations to infrastructure providers, not just telecom service providers.
According to him, the timeline given by the commission is more than enough time for all parties to align with the performance standards expected of them.
Recently, to ensure compliance with the standards, the NCC introduced a Major Incident Reporting Portal for real-time outage disclosures; developed public performance dashboards to enhance transparency; mandated that telecom tower companies meet strict Key Performance Indicators (KPIs).
Although the tower operators had previously cited delayed payments from MNOs as a reason for service lapses, the NCC had dismissed the justification, insisting that all parties must meet their obligations.
The EVC maintained: “Operators must fulfill both their technical and financial responsibilities. Poor service delivery—regardless of internal disputes—will attract consequences.”
Available data on the telecom tower infrastructure shows that IHS Towers has the largest assets with 16,000–19,000 sites, (62% market share); compared to American Tower Corp’s (ATC’s) about 8,270 towers; and Pan-African Towers’ 760–1,000 sites nationwide.
The latest NCC’s August deadline is believed to be putting pressures on the tower operators to improve the quality of their facilities for improved services as the commission had hinted of its plan to sanction defaulting operators with fines or stricter regulatory actions.
Industry experts believe that the NCC’s directive is a welcomed development as it will ensure reliable Internet connectivity and improved services quality for telecom consumers in the country.
Nigerian Communications Commission (NCC) is set to play a pivotal role at the upcoming 6th edition of the Telecom Sector Sustainability Forum (TSSF 6.0), where it will lead a critical discussion on the sustainable growth of Mobile Virtual Network Operators (MVNOs) in Nigeria.
Set against a backdrop of innovation and opportunity, this forum, organized by Business Remarks, aptly themed “Unlocking Nigeria’s MVNO Potential: Status, Trends, Investment, and Future Prospects,” is scheduled for August 26, 2025. This event reinforces the nation’s commitment to fostering a robust, competitive, and inclusive telecommunications landscape.
The forum will bring together a diverse array of key stakeholders from across the telecom ecosystem to deliberate on strategies for integrating MVNOs effectively into Nigeria’s rapidly evolving digital economy. With the recent advancements in technology and the issuance of 43 MVNO licenses to new players, MVNOs are poised to significantly enhance service delivery, drive digital transformation, penetrate underserved markets, and stimulate healthy competition across the sector.
As the global MVNO market is experiencing significant growth, with projections indicating continued expansion, experts believe that with the right regulatory environment and access to infrastructure, emerging markets like Nigeria can leverage MVNOs to unlock new value for both operators (by utilizing excess network capacity) and customers. Customers can enjoy a rich array of niche value-added services tailored to their needs.
Having been proactive in introducing a five-tier MVNO licensing classification, each with distinct services and a 10-year validity period, signaling a clear path for new entrants, the telecom regulator (NCC) will deliver a keynote address outlining the Commission’s regulatory framework, interventions, and commitment to ensuring a conducive environment for MVNO operations.
Mrs. Bukola Olanrewaju, Convener of the forum and Managing Editor of Business Remarks, emphasized the importance of collaboration. “TSSF 6.0 is designed to be a melting pot of ideas, bringing together Mobile Network Operators (MNOs), MVNOs, telecoms infrastructure providers, Internet Service Providers, industry associations, and technology experts,” she said.
“Our goal is to ignite discussions that will shape the future of MVNOs in Nigeria, ensuring their sustainable growth and their critical role in extending digital prosperity across the nation.”
The forum will feature interactive sessions, thought-provoking panel discussions, insightful paper presentations, and abundant networking opportunities. This event aims to provide a platform for stakeholders to share insights, address challenges, and explore collaborative pathways for sustainable growth.
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