Azerbaijan Credit Bureau preparing new assessment system

Finance Materials 26 September 2019 19:31 (UTC +04:00)

Baku, Azerbaijan, Sept. 26

By Eldar Janashvili - Trend:

Preparation of a new credit scoring service has begun in the Azerbaijan Credit Bureau (ACB), Trend reports referring to the ACB Sept. 26.

The development of a new assessment model is carried out by Turkey’s team Kredi Kayit Burosu (KKB) together with the ACB, and in this regard, an agreement was signed between the two organizations Aug. 1, 2019.

The team consisting of KKB specialists, starting from September, began the corresponding work in the ACB.

Through a credit scoring service, the behavior of the borrower will be studied on the basis of an analysis of the collected data on the entities of credit history in the ACB, and a model of individual ratings based on the obtained results will be developed and implemented.

The ongoing project will simplify assessment procedures in credit institutions, save operating expenses, reduce credit risks and strengthen financial discipline of borrowers. According to the project plan, the corresponding service will be commissioned from April 2020.

In addition to the ACB member organizations, credit history entities will be able to use this service as well.

KKB was founded in 1995 by nine leading banks of Turkey. The assessment models developed by the KKB team are successfully used in the Turkish market.