Baku, Azerbaijan, Oct. 7
By Eldar Janashvili - Trend:
Azerbaijan Credit Bureau LLC (AKB) will launch several new services by the end of 2019, Trend reports with reference to AKB Chairman Elchin Habibov, who spoke at the investment fair entitled “Microfinance Development in Azerbaijan”.
The mass request service, which will allow credit organizations to simultaneously send from 5,000 to 10,000 requests to the bureau, is already at the digitalization stage, Habibov said adding that for now, credit organizations can send only one request at a time.
Habibov noted that from January to August 2019, AKB received almost 2 million scoring requests out of a total of 3.6 million requests. The specific share of scoring requests from January to August 2019 increased from 43.5 percent to 61.5 percent, and this clearly shows the need for a new service, Habibov said.
The AKB chairman also reminded about the plans to modernize the scoring system aimed at automation of projects and analytics.
The updated system will help simplify assessment procedures in credit organizations, save operating expenses, reduce credit risks and strengthen financial discipline of borrowers. In accordance with the project plan, the corresponding service will be commissioned in April 2020.
In addition to member organizations of the AKB, credit history entities will be also able to use this service.