Equinoxe turns to Compuscan Direct to Develop Credit bureau Solution to Boost Senegal Credit Industry

Compuscan Direct, a subsidiary company of Compuscan South Africa, one of the leading Credit Bureaus in Africa, has signed a Memorandum of Understanding with Equinoxe, a company based in Dakar specialised in data protection, security and credit evaluation, to develop a full credit bureau solution to expand the credit industry in Senegal and the West Africa Region.

This new service will give Senegalese and West Africa Monetary Union’s credit grantors access to a credit reference service developed using Compuscan technology. The technologies and platforms managed by Equinoxe will enable credit suppliers to make faster, better and more consistent credit decisions for new and existing borrowers.

Banks, Micro Finance Companies, Retailers and Telecoms extending credit or services will all benefit from the new service.

“Risk management is a crucial aspect in the lending process, not only when a customer first applies for credit, but throughout the customer life cycle,” said Bashir Bah Managing Director at Equinoxe. “A Credit Bureau will increase access to credit services and will reduce the element of subjectivity in lending decisions, thereby allowing much more effective business management”.

"This alliance is an important step towards our common goal of providing a wide range of tools to improve the credit decision process in the African Continent as a whole” said Roberto Giannantoni Managing Director at Compuscan Direct.

"Access to powerful a credit bureau solution is a fundamental requirement for best practice risk management and Compuscan Direct is delighted to initiate this project in

Senegal through this alliance with Equinoxe" added Roberto Giannantoni.