Tanzanian lender CRDB Bank has implemented Nucleus Software’s FinnOne Collections and Lending Analytics platform to improve loan collections and reduce its non-performing loan portfolio.

In 2017, CRDB engaged the fintech company’s Nucleus FinnOne Collections and Lending Analytics to streamline its loan-related operations.

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Currently, the service is now live and manages the bank’s entire loan collection lifecycle. Additionally, the technology manages associated legal cases until their final closure.

Additionally, the Lending analytics model helps the bank to identify potential payment failures from the customers as well as assess the credibility of payment promises.

The deployment of the system is said to have helped the CRDB Bank in improving collection rates and reduce costs.

CRDB Bank director of credit James Mabula said: “Using Nucleus technology, we are able to manage our collections better and the lending analytics platform has helped us benefit from data driven insights. We look forward to our continued collaboration with Nucleus Software”.

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Established in 1996, CRDB Bank provides retail, corporate, business and wholesale microfinance services. The bank has 260 branches and 569 ATMs.

Nucleus Software CEO R P Singh said: “We are delighted to partner with CRDB to help them take their lending services to a new normal with our leading FinnOne platform.

“For over a decade we have been supporting many leading banks and financial institutions in Africa. CRDB Bank is our first customer in Tanzania and shows our continued commitment to Africa.”