Mr. James Mabula (Director of Credit, CRDB Bank)

Nucleus Software, a lending and transaction banking solutions provider has announced that CRDB Bank, the Tanzanian financial service provider, has gone live with Nucleus’ FinnOne Collections and Lending Analytics.

Mr. R P Singh (CEO, Nucleus Software) stated, “We are delighted to partner with CRDB to help them take their lending services to a new normal with our leading FinnOne No platform. Our solutions are completely aligned with CRDB Bank’s mission of providing competitive and innovative financial solutions.”

In 2017, CRDB Bank engaged Nucleus Finn One Collections and Nucleus Lending Analytics to improve loan collections efficiency by streamlining, automating and digitizing their operations. This solution was implemented and now manages the Bank’s entire collections lifecycle from soft calling of delinquent customers to tackling hard bucket collections, while also handling the follow up of legal cases until final closure.

The supplier states that the solution helped CRDB Bank to improve collection rates while reducing costs. In addition, the Bank is also leveraging on Lending analytics model which is part of the implemented solution on a wide range of business areas, including predicting potential delinquencies before they happen and assess the probability of promises to pay.

Mr. James Mabula (Director of Credit, CRDB Bank) said, “At CRDB Bank, we needed to streamline and automate our collections processes to reduce delinquencies. In addition to choosing a proven solution from a trusted partner we needed to prepare for the future, and that’s why we chose Nucleus Software and their advanced solutions. Using Nucleus technology, we are able to manage our collections better and the lending analytics platform has helped us benefit from data-driven insights.”

Established in 1996, CRDB Bank has a presence in Tanzania and Burundi and is supported by a robust portfolio and uniquely tailored products. The Bank offers a comprehensive range of corporate, retail, business, treasury, premier, and wholesale microfinance services through a network of 260 branches and 569 ATMs.

Nucleus Software, the provider of lending and transaction banking products to the global financial services industry, is powering the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas. Its flagship products include FinnOne, FinnAxia and PaySe.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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