Credit Registry trains Banks on CDT capacity development

In other to position banks for smooth take-off of the template adoption with a June, 2016 deadline prescribed by the Central Bank of Nigeria, Credit Registry Services (Credit Bureau) Plc over the weekend completed the third batch of common data template (CDT) capacity development training for banks in Nigeria.

The training aligns with CR Services objective to not just be regulatory compliant at all times, but to support subscribing institutions and industry operators to achieve the same. The training, which held at CR Services Multipurpose Hall, had representatives of several banks including; Zenith Bank, Keystone Bank, Standard Chartered Bank, Wema Bank, GTBank and Sterling Bank amongst others.

The new CDT for submitting loan records to credit bureaus in Nigeria, being promoted by the CBN, has the following features: individual borrower template, corporate borrower template, principle officers’ template, credit information template, guarantors’ information template and catalogue values.

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Some of the participants lauded CR Services for this insightful initiative noted that they were impressed by the content of the training, noting that it has prepared their institutions for the CDT activation, which is expected to improve credit bureaus data quality and uniformity in data uploaded to credit bureaus by credit providers.

Speaking on this capacity development initiative, CR Services Executive Director Sales & Business Development, Mr. Godfrey Ebetaleye said: “As industry leader in Nigeria providing Credit Bureau services to wide ranging spectrum of subscribers, we make sure to keep our subscribers abreast of latest developments to improve their business performance and quality, working with our technical partner CreditRegistry Corporation of USA.”

Managing Director/ CEO, Mrs. Jameelah Sharrieff-Ayedun of the company said: “At CR Services, we have always created interactive platforms such as this to deliberate with our subscribers on key industry issues and developments. To remain a key part of our subscribers’ way of doing business, we must intently understand their business. CDT capacity development training enabled us share perspectives and on that basis, we shall provide constructive feedback to our regulator.”