Problem we are solving
Financial institutions, especially in the informal sector face an upsurge of non-performing loans and high default rates, due to a high number of serial/multiple borrowers. In December 2020, non-performing loans amounted to USD 68m ( UGX 242.6bn), a 48% rise in Uganda. In addition, the current data sharing model to the existing CRBs is largely decentralized, tedious, manual, and expensive; creating the risk of data silos.
We help financial institutions to reduce their default rate and non-performing loans, by identifying high risk borrowers, through a Credit Reference Bureau (CRB). We also help borrowers to track their loans through a mobile App leveraging feature-phone and offline capabilities.
gnuGrid’s CRB helps in risk management and decision making by utilizing credit information to guide risk pricing, monitoring and control of loans and advances. It helps financial institutions and off-grid solar companies to filter out high risk customers before a sale decision is made. Features include: Web portal and Mobile App for institutions, USSD menu for customers, GSM enabled devices, APN setup, Data sanitizer tools, offline and online functionalities.