This archive report was first published on 30 June 2021.
On June 30, 2021, TransUnion Kenya announced the launch of TrendedView Report, a newly enhanced consumer credit report designed to help lenders make informed decisions.
Understanding Credit Risk in the Post-Pandemic Era ¶
According to Samuel Tayengwa, Director of Product at TransUnion Kenya, lenders need to consider more than just a credit score when evaluating a borrower's creditworthiness. Insights into a consumer's credit scores and loan balances before and after the crisis, as well as their credit score trends, loan products, and credit limits, can lead to better risk management and more informed lending decisions.
During a recent media roundtable, Tayengwa emphasized the importance of understanding the customer journey in the context of economic and business trends. He noted that lenders are under pressure to restructure loans and offer tax holidays to consumers affected by the pandemic.
TransUnion Kenya's credit data shows that non-performing loan rates in Kenya have increased to 14.6% in March 2021, from 12.5% in March 2020. The company also reported that annual losses from identity theft and loan stacking in Kenya total approximately KSh 13.3 billion.
TransUnion Africa operates in 8 countries in Africa, offering a range of risk information solutions and personal credit management solutions.
