Frost & Sullivan Recognizes Nigeria’s CreditRegistry Services Implementation of Biometrics

“What really makes the CRS credit risk software platform stand out is the fact that it is scalable and is able to support large enterprises and millions of customers.” – Fadzai Deda, Best Practices Research Analyst, CreditRegistry Services

Frost & Sullivan recently announced its recognition of CreditRegistry Services (CRS) with the 2016-2017 Product Leadership Award in the credit reporting and risk management enterprise software industry in Nigeria.Frost & Sullivan Recognizes Nigeria's CreditRegistry Services Implementation of Biometrics CRS is an industry leader, counted among the first to employ both fingerprint and facial biometrics, as well as two-factor authentication to address concerns about privacy.

CRS recognized privacy concerns by identifying how consumers might omit vital information or provide incorrect information to avoid identity theft or fraud. These omissions and falsifications often lead to negative quality of records, and CRS’s implementation of encouraging accurate data in credit-reporting while using fraud detection was the reasoning behind using biometric mechanisms.

“What really makes the CRS credit risk software platform stand out is the fact that it is scalable and is able to support large enterprises and millions of customers,” said Fadzai Deda, the Best Practices Research Analyst for CRS. “This platform can be deployed either as a cloud-based application, or on-site if customers are using legacy systems. Furthermore, the software also uses analytics to identify consumer behaviours to increase both sales and customer service.”

Clients are also able to detect anomalies in all stored records within their internal system to prevent fraud. CRS is continuously adding new features through its partnership with CreditRegistry Corporation (CRUSA) based in the United States. The award recognises the quality of the solution and the customer value enhancements it enables, furthering the global conversation about how biometric and other AI technologies are vastly changing our relationship with money.

December 14, 2017 – by Susan Stover