Compuscan Direct, a credit bureau software and consultancy provider for new market initiatives has expanded into countries such as Nigeria, Bangladesh, the Caribbean (Jamaica) and Iran. By heading directly into these specific developing regions our credit bureau initiatives are gaining exposure. Our experts are increasingly getting in touch with these vast markets to ultimately offer our esteemed services in the future.
Compuscan, based in South Africa, is leading the way forward for the development of credit bureaus in many African countries and beyond. This article will introduce John McLean, one of the many contributors, who is making these initiatives for the future a success. As of 1 July, 2009 Compuscan Direct has benefited from the valuable input and skills of John McLean. He provides the necessary knowledge and experience to support and develop this initiative and we would like to welcome him to our team.
As part of getting to know John and the thinking behind the man, we have conducted an interview with him to find out more about his role and responsibilities at Compuscan Direct.
What is your role at Compuscan Direct and how did you come about working here?
I joined as a Project Manager, having gained many years of experience in the field both locally and internationally. I have lived in Johannesburg, California and Melbourne and now the fair Cape. My principle role is managing the development of customised private credit information bureau systems. Compuscan’s credit bureau software and consultancy initiatives are conducted by Compuscan Direct which is headed by Roberto Giannantoni (Managing Director) and Jaco Alberts (IT Director) both of whom provide a wealth of experience in such development.
What are the challenges you face in implementing credit bureau systems for the first time in new countries?
The challenge I face is to consistency deliver quality and reliable data. This is the lifeblood of any information system and is especially true for credit bureau systems where sensitive information is shared.
Secondly, institutions such as Banks and Micro Finance Institutions may have reservations about sharing credit information relating to data of their clients. However, once the practical benefit to share information is realized, it is no longer a concern. The next challenge is to have data arrive in a regular and accurately formatted manner where we work closely with the institutions in resolving any issues. This is hugely beneficial for all involved. Compuscan Direct has actively been involved in sub-projects to improve management and ease of data input into the system. Another challenge in certain countries, especially those new to the concept of credit information sharing, is the lack of unique personal identifiers (e.g. ID number). In these instances, innovative ways are introduced to ensure that data can be accurately and repeatedly matched to an individual or business, a very important factor in adding to the overall confidence of the system.
How is the implementation of a new credit bureau system in Uganda developing?
A year ago, a new credit bureau system was developed and deployed in Uganda on behalf of the Bank of Uganda. An office was established in Kampala to have full control of the operations. In addition, a Financial Card System (FCS) or biometric card system was introduced to enable the unique identification of individual or non-individual borrowers. Both systems are closely integrated allowing lenders to confidently make informed decisions when managing credit risk.
Many participating institutions are beginning to send credit related data and perform enquiries. Although there was a slow to be expected start, the process is gaining momentum. This project forms the basis of the system to be rolled out to all new clients by Compuscan Direct. Once an agreement has been reached as to the identification methods and changes to the base software are made, development can commence and the project becomes live.
This project and the local knowledge and experience gained in Uganda gives Compuscan Direct the extra confidence boost to successfully deliver future systems.
What are the benefits of the technology employed with Compuscan Direct’s solutions?
As with the credit bureau in South Africa, quality standards of scalability, stability and performance are fundamental to a successful solution. Jaco Alberts and his team, with many years of experience, have learnt to get the very best out of the technology. They make use of both Sun platforms and Oracle databases. The blend of hardware and software (database, operating system and applications) together with the network infrastructure ensure that start-ups experience an equal level of quality as their larger scale counterparts and that there is the ability to grow.
What current projects are you running with?
Compuscan Direct is currently working with two contracted clients in Nigeria and the Caribbean (Jamaica). There are further prospects in the pipeline which we will reveal in due course.
What are the exciting aspects of your current role?
It is a good place to be involved at the beginning of these projects and providing solutions that will used as a benchmark in similar situations. In some instances, credit information sharing is something altogether new for the client and for their respective countries. Meeting and working with people from different cultures and parts of the world underlines the understanding that we are part of the global universe and our needs are similar.
Furthermore, our technology defines us at the forefront of the industry. Our IT department has a confident, innovative and flexible approach in developing a robust system that focuses on our customers needs at all times.
For more information on Compuscan Direct and the services we offer, please contact John McLean on info@compuscan.co.za or visit www.compuscandirect.co.za Compuscan Direct is the partner of choice for Central Banks, Banking Associations and Entrepreneurial groups that wish to develop Credit Bureau initiatives in emerging markets.
