CRIF has announced today the acquisition of Microfinance Technologies Center (MTC) in Russia – a growing industry player in the delivery of credit risk assessment services for the microfinance sector.
Established in 2014, MTC acquired approximately 20% of the market share in the non-banking retail financial sector in less than a year, delivering services to over 470 microfinance organizations around Russia. Its advanced technological platform enables data to be analyzed from multiple data sources and provides efficient and risk-oriented credit management processing services to its customers.
MTC’s core, founding pillars of affordability, simplicity and high quality customer relationship management became the drivers for the rapid development and growth of its business operations. Its proven track record is also explained by exceptional flexibility in adjusting to evolving market needs. Hence, MTC today perceives itself not only as a data processor and aggregator, but also as a universal competence center in credit risk as well as in the compliance and regulatory framework for the microfinance industry.
“We see a lot of potential in MTC’s business model. Combined with CRIF’s experience, expertise and technologies, new horizons will open up for further development, adding new services to meet the growing demand in the credit area, penetration of new market niches, and the up-scaling of operations,” said Carlo Gherardi, President and CEO of CRIF.
Founded in 2014, MTC developed an information platform to process data from multiple data sources for credit risk assessment purposes and channeling data to bureaus of credit histories as part of mandatory compliance with evolved Russian legislation. MTC collects, analyzes and interprets retrieved data into credit risk management language, enabling its customers to make effective and risk-based decisions. Headquartered in Kaliningrad, Russia, MTC services the needs more than 470 customers across Russia.
Source: CRIF Press Release