Monday, March 28, 2022 / 04:00 PM / Ademikun Adeseyoju Head, Product Innovation Support Services, DataPro / Header Image Credit: DataPro 

DataPro, Nigeria's technology-driven Credit Rating Agency (CRA) in recognising the use of an out-of-the-box approach and disruptive-application-thinking, today announced its cooperation with modefinance international, a part of modefinance group, the First European FinTech Rating Agency. 

The synergy is expected to revolutionise and modernise the Credit Risk Analysis and Management practice/ profession in Nigeria with the introduction of the TIGRAN-for-DataPro solution, empowered by modefinance. 

This partnership has been achieved due to the global business expansion strategy of modefinance. The Rating-as-a-Service (RaaS) product, "TIGRAN-for-DataPro" solution, is based on artificial intelligence technology, advanced analytics, and big data representing an adaptive and flexible independent credit risk management tool for the Nigerian market. 

This game-changing application is ideal for Deposit Money Banks, Merchant and Investment Banks, Mortgage Banks, Microfinance Banks, Insurance Companies, Capital Market Operators (CMOs), FinTechs, Multinationals, Conglomerates, and Manufacturing companies, in order to digitalise and automate their credit risk underwriting process with the integration of different components of user credit policy and data sources. 

In addition, the product will deliver to the market a stand-alone solution on Customized Quantitative and Qualitative Analyses, Forecast Analysis, Debt Capacity Simulation, Portfolio Analysis, Probability of Default modeling, and Expected Credit Loss modeling. 

Reacting to the partnership, Mattia Ciprian the CEO of modefinance said "The credit market needs more and more fast evaluations with high accuracy. At modefinance, we are engaged on a daily basis in supporting organisations all over the world, with greater focus on the African continent". 

Prince Oladele Adeoye, the Chief Rating Officer of DataPro Limited, also said "We recognise that credit decision-making needs to be effective and efficient. This has become necessary today, as customers are looking forward to speedy, convenient, and cost-effective services from providers. A technology that can assist Financial Institutions and Corporate Bodies whose businesses run on credit to make informed decisions, therefore, becomes essential". 

Over the past 27 years, DataPro has played strategic roles in supporting the growth and development of the Nigerian economy, and in reducing inequality, barriers, and information asymmetry in investment decisions. 

Cristian Giacomini, CEO of modefinance international, was quoted as saying "We are fully committed to transferring our know-how, generating added value for the Nigerian economy, and creating a domestic legacy in the credit risk management industry. Our technological innovations in big data, artificial intelligence, data analytics, and machine learning are all paving the way for MSMEs to have access to better financial services". 

In continuation, Mattia Ciprian was further quoted as saying "We are really happy to have closed this partnership with DataPro which, like us, is a Rating Agency with a strong technological heart". 

Prince Oladele Adeoye, who is also the Executive Director Operations, of DataPro believes that the partnership between modefinance and DataPro will bring to bear African and European experiences in developing the credit decision-making process in Nigeria. 

Finally, Cristian Giacomini is of the opinion that this cross-continental partnership will encourage Financial Institutions, and Investors to further develop credit risk analysis, increase financing, and contribute to the sustainable growth of the national economy.

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Frequently Asked Questions

Q. What is the "MORE" score?

A. The MORE score is a credit rating score awarded by the Tigran-for-DataPro application based on the Financial, Qualitative, Sector, and Market information provided on a Company or Financial Institution by the user of the application. The application uses Artificial Intelligence, Machine Learning, and Big Data Analysis to assign the MORE score as well as to detect trends and ensure the reliability of the score. 

Q. How is the Tigran-for-DataPro solution different from the traditional methods of risk evaluation?

A. The solution enables end-users to make faster credit risk decisions by infusing digitisation and automation into their credit risk underwriting processes. End-users will also be able to make customizable models that can be reviewed and tested in real-time. 

Q. What Rating as a Service (RaaS)?

A. This is a system of rating which incorporates major Institutional guidelines on credit risk management and consumer protection. The RaaS Platform is a powerful and Reliable AI risk rating platform that enables users to decide the credit risk of counterparties and automate internal procedures. 

Q. How can the Tigran-for-DataPro solution be useful to different types of companies?

A. Conglomerates and Multinationals - these Companies tend to have significant amounts of their assets tied in Receivables. The Tigran-for-DataPro application can assist these types of Companies to analyze their debtors effectively to properly manage their Credit Exposures. 

Fund Managers - the application can be useful in assisting these organisations in managing their portfolios to generate the best Returns on Investment (ROI). 

Banks - the application can accurately analyse debtors or potential debtors in order to enable an effective Credit Risk Management ecosystem.  

About modefinance

Headquartered in Italy and with a presence in Africa and Asia through modefinance international, modefinance is the first FinTech Rating Agency in Europe registered as a Credit Rating Agency in accordance with Regulation (EC) No 1060/2009 of the European Parliament ad of the Council of 16 September 2009 (the Credit Rating Agencies Regulation). Thanks to its own methodology for credit risk analysis, modefinance provides different products and services to satisfy every business need relating to modern credit and risk management.  

About DataPro

DataPro is a licensed Credit Rating Agency (CRA) in Nigeria recognized by the Securities and Exchange Commission (SEC). With over a decade of experience in the industry, DataPro, a Technology-Driven CRA stands out with a sound ethical and professional reputation. Since its inception in 1995, we have remained committed to its vision of providing Compliance Solutions, Third Party Verification Services, Business Information Reports, and Credit Rating Services to end-users not only in Nigeria but all over the world.