Jamii Bora joins credit management system

Money Markets

Jamii Bora Bank CEO Sam Kimani during a media briefing on the bank's new credit management system to be implemented over the next two months by Swiss firm Sofgen on February 26, 2015. PHOTO | DIANA NGILA |  NATION MEDIA GROUP

By JOHN GACHIRI, jgachiri@ke.nationmedia.com

In Summary

• JBB joins 200 other banks using the credit management system that also frees staff from manual processes, allowing them more time to concentrate on customer service.

Jamii Bora Bank (JBB) has begun implementing a new system to automate functions including determining how much to lend customers, sending balances and assessing risk.

JBB said the new credit management system to be implemented over the next two months by Swiss firm Sofgen will result in a faster turnaround for loan approval and lower lending risks for the lender.

“The new system will also be instrumental in the management of non-performing assets including remedial activities and procedures,” said JBB chief executive Sam Kimani.

JBB joins 200 other banks using the credit management system that also frees staff from manual processes, allowing them more time to concentrate on customer service.

“This decision will enable Jamii Bora Bank to improve its asset quality, minimise the bank’s compliance risk, reduce administrative costs and increase efficiency of the bank’s credit process,” said Sofgen vice president for East Africa Adam Nyaga.