Risk Management: Fidelity Bank Acquires Creditquest

Fidelity Bank Plc has acquired the globally recognized and respected credit risk and portfolio management software known as Creditquest. A release by the bank stated that this followed a rigorous evaluation of all existing credit risk software in the market by the Bank.
Creditquest is a credit risk management and risk processing software which covers retail, corporate and commercial credits. Its features include loan origination, credit memo writing and presentation, credit approval and approval tracking, document management, credit administration, project finance analysis, excellent workflow management and back-end credit audit functionality.
It provides high-end Base II analytics, risk-based performance measurement and capital evaluation at both the transaction and portfolio levels. Creditquest is developed by Harland Financial Solutions, USA, represented in West Africa by Risk Vision Systems, a subsidiary of H. Pierson Associates Limited.
According to Mr. Festus Okesade, head of RiskVision, the software is designed with the combination of several modules. These are credit manager, a solution that supports the review, analysis, collaboration and decision making of retail, commercial and corporate credit applications by incorporating workflow, documentation management, and account aggregation as well as risk rating, automated credit memos and relationship management. It also contains financial analyzer, a solution that offers configurable financial ratios, peer group comparisons, customers’ analysis reports and more, among others.