Challenges and Benefits of Cashless Credit Allocation in Financial Services

In the realm of financial services, this content delves into the challenges and advantages of cashless credit allocation, exploring key factors like regulatory frameworks, security measures, and the role of different players in the industry. It also discusses credit scoring and the significance of X-Score in evaluating creditworthiness. The content emphasizes the importance of transparency, risk management, and accessibility in driving financial inclusion and growth in the economy.

• Financial Services
• Cashless Credit
• Regulatory Framework
• Credit Scoring
• Security Measures

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1. https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT-s3qs3xKs2g2aLhxUCAJM8E4wCOzxzMnEVz76HUbiF3LGKOTGhttps://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT-s3qs3xKs2g2aLhxUCAJM8E4wCOzxzMnEVz76HUbiF3LGKOTG Harnessing the Benefits of Cashless on Credit Allocation.

2. Cashless Credit Allocation A time Series Analysis N 12 11 1 2 10 W 3 4 9 E 8 6 7 5 S

3. N RLLR +12-6= +6 12 11 1 -9+3 = -6 2 10 W 3 4 9 E 8 6 5 +12-6 -9+3 =0 S

4. N 12 11 1 2 10 W 3 4 9 E 8 6 7 5 S

5. FirstCentral 2. Challenges Overview: 1. Key Factors Regulatory Framework Security of funds and information -Payment card industry and . data security standard certification (PCI DSS). Accessibility and availability CBN Cyber Attack Data Availability isk of robbery Data Accessibility Information Technology Cyber Risk 4. Players 3. Prospects Banks CB s Financial inclusion, improved risk management, easy access to loans MFB s, PMI s reduction of high financial constraints and interest rate reduction FI Coy s Transparency in Financial System/Digital Footprint Bank Effectiveness of the monetary policy Government Growth in the real sector of the economy and increase saving Individauls mobilizations.

6. Product & Services Commercial Services Consumer Detailed Credit Basic Credit Directorship Trainings on Credit & Financial Literacy Web Service (API) Portfolio Monitoring Credit information Update Data analytics Batch reporting Customised requests Directorship Credit reporting Financial Intelligence X-Score NicoCreSCore Detailed Credit Basic Credit Directorship Dud Cheque Trace credit Products Service 6

7. Credit Scoring - X-SCore FirstCentral X-SCore A credit score is a statistical number that evaluates a consumer's creditworthiness and is based on the individuals credit history behavior. FI s use credit scores to evaluate the probability that an individual will repay his or her loan(s). . X-SCore uses the following metrics: Repayment History Total Amount Owned Types of Credit Length of Credit History and Number of Credit Merits Probability estimate that eases evaluation and allows for easy integration into a credit facility system. 7