CRC Credit Bureau Introduces USSD Code for Mobile Credit Check
CRC Credit Bureau Limited and MTN in collaboration Nigeria Interbank Settlement System (NIBSS) and VAS2Nets, have introduced the USSD Code, *565*8# for mobile credit check.
CRC Credit Bureau, a leading credit bureau in Nigeria, said the service offering, in partnership with MTN Nigeria, provided an alternative medium for individuals and merchants to have easy access to a summary of their credit reports via their mobile phones. This, it said, was in line with CRC’s mission to deliver innovative products and services that enable stakeholders to build credible profiles that enhance access to credit for strategic growth and promote financial inclusion.
The Managing Director/ CEO of the company, Mr. Tunde Ahmed Popoola, said: “The new innovation which is introduced for the first time in Nigeria is a quick and easy way for people to carry out credit checks on their mobile phones. This service is currently available to MTN subscribers only. With Mobile credit checks your credit history is at your fingertips. Simply dial *565*8# on your mobile phone to get your credit report instantly.”
“Effective financial and credit management requires a complete understanding of an individual’s overall financial and loan status by constantly monitoring the various accounts and balances. It also involves the ability to accurately assess and promptly address errors apparent. Consumers, now have the power in their hands to act swiftly and positively position themselves to improve access to finance and buy products on credit,” Popoola said.
He added that registered merchants or business entities alike can also grow business volumes and increase sales revenues by instantly knowing which customers can enjoy consumer products to pay later by dialing *565*8*3# and reviewing their customers’ credit worthiness.
This will not only give them a competitive advantage but will also build customer loyalty and retention.
CRC Credit Bureau Limited currently warehouses credit transactions and payment histories of individuals and companies in Nigeria in excess of 15 million records provided by about 1,300 institutions.
In addition to credit information, CRC also compiles public data, statutory and identity information as well as dishonored cheque information of individuals and organisations. This enables banks and creditors generally to have access to accurate and comprehensive data which empowers them to make quick, fair, responsible and informed decisions with confidence.