Bank debtors or prospective borrowers who hitherto faces embarrassing moments for not knowing their current credit status and are left with complaints when informed about unfulfilled payment obligations on facilities they have either long settled or they presume to have settled can now feel a sigh of relieve as CRC Credit Bureau Limited introduces CRC Individual Credit Overview Notification (CRC i –CONplus)
Customers were outrightly denied credit each time they approach lenders for new ones or experience unwarranted delay in the processing of their applications, since the disputed credit position would have to be subjected to a credit bureau’s information update process and/or dispute resolution process. The dispute resolution process can take up to a month or more to resolve depending on the response rate of the data provider for the facility in question.
“It is a welcomed development as customers can arm themselves with their credit status and thus makes credit processing and administration to be done in a timely manner”
Mr. Olalekan Aransiola a Business Manager in one of the old generation banks
According to Mr. Sulaimon Okesola the Customer Service Officer of CRC Credit Bureau Limited. CRC I-CONplus delivers an easy, convenient and cost effective solution that enables customers to proactively monitor their overall credit exposure and performance, through periodic email notifications that can be viewed on the go. Beyond the opportunity to maintain constant checks on customers’ reputation, I-CONplus notifications also offer subscribers prompt identification of any irregularity in their credit status for swift corrections. Borrowers can now be a step ahead of their prospective lenders or users of their credit information reports with ease.
He further explains that with the I-CONplus service, you stand a chance of maintaining a favorable history of performance, thereby enhancing your opportunities to access new facilities as at when needed and at reasonable terms. Lenders can also grant more credits at reduced charges to borrowers they perceive to be less risky in terms of capacity and willingness to repay;
CRC I-CONplus ensures that all paid down loans have been duly processed and reported to the credit bureau to reflect such. For example, it is not enough to settle a debt with a bank without having it effected in your credit report since it is almost impossible for other banks in the industry to contact the bank before application decisions are made.
The service also ensures that the loan portfolio of all credit institutions interacted with (by the customer) are not adulterated in any way. The risk of fraud and other identity theft cases that can be committed using a subscriber’s details is much reduced with the regularity of monitoring that has been made available.
At CRC Credit Bureau, it is part of our objectives to make the lending process in Nigeria as transparent as possible and affordable to every individual. I-CONplus is thus among our commitment to developing products and services that prevent credit information discrepancies, identity theft etc. and at the same time promote access to credit. He further explained.