Information available to Techeconomy indicates the AGM will be held on Friday, August 23, 2024.

Each year, members of ISPON come together to discuss progresses made from the past year, discuss the current challenges being faced in the Nigerian information technology industry and deliberate on strategies to help the Institute develop in the next one year.

“After one year in office, the 2023/2025 ISPON NEC led by Mr. Bimbo Abioye is excited to engage with members in a bid to seek collaboration towards the growth and advancement of the Institute”, the statement reads.

ISPON was formed in 1999 with the aim of creating an enabling environment for local content developers to thrive and compete internationally.

The Institute has been in the fore front of championing the utilization of Nigerian developed software in order to boost our economy and give Nigeria an alternative to oil as a revenue earner.

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This cutting-edge credit management software, laced with the power of Artificial Intelligence and Machine Learning, is poised to revolutionized credit processes within banks and allied institutions across the continent.

In a recent international webinar engagement spanning multiple African countries, from Kenya to Tanzania, Gambia, and Uganda, Fintrak Software Limited showcased its innovative software to a gathering of prominent industry players and bankers.

The event was not merely a demonstration; it was a revelation. The Fintrak Credit 360 software garnered unanimous acclaim for its seamless integration of Artificial Intelligence and Machine Learning in credit risk management.

Bimbo Abioye, the Group Managing Director of Fintrak Software, said the software’s transformative impact on the credit lifecycle.

Unlike conventional banking solutions, Fintrak Credit Risk 360 comprehensively captures every stage of credit management, from origination and appraisal to customer approval, loan approval, and even rescheduling.

The infusion of Artificial Intelligence (AI) ensures a flawless execution of these processes, eradicating the possibility of human error.

Abioye emphasized the software’s ability to automate credit transactions, including intricate processes like payday loans, end to end. Through strategic integration with credit bureaus and regulatory bodies like the Central Bank of Nigeria, Fintrak Credit Risk 360 emerges as a holistic solution for any bank, empowering them to manage various loan types effectively.

In the words of Omar Mboob, a seasoned banker from Gambia, Fintrak’s software has streamlined their operations, introducing meticulous underwriting and enhancing client oversight. The automation features have instilled confidence in auditors due to adherence to international financial reporting standards (IFRS), significantly boosting efficiency and productivity.

Kenneth Uzoegwu, a financial analyst, added that Fintrak’s Credit Risk software is impactful for its swift decision-making capabilities, facilitated by AI and machine learning components.

Christopher Sualeze, Head of Commercial Banking SBU, FinTrak Software, highlighted the software’s open architecture, making seamless integration with other credit software possible. He also emphasized its prowess in anomaly detection and behavioral analysis of customers, facilitated by a dynamic product rack.

Fintrak Credit Risk 360 incorporates a comprehensive array of core components essential for managing credit risk effectively.

This robust system encompasses features such as loan origination and collateral management, corporate bulk loan breaking, credit reporting, disbursement execution, loan restructuring, and real-time loan monitoring.

Furthermore, the system integrates an embedded document management system, utilizing cutting-edge artificial intelligence and machine learning technologies for efficient data analysis and decision-making processes.

It also streamlines credit documentation processes, including Credit Approval Memos (CAM) and Credit Approval Forms (CAF). Additionally, the platform facilitates rigorous credit appraisal through in-depth financial analysis and risk rating methodologies.

The system further extends its functionality to accommodate various approval levels, from bank officers to credit committees and board committees.

It provides mobile loan approval capabilities, ensuring flexibility and accessibility for stakeholders involved in the approval process. Through its digital lending capabilities, the platform transforms the lending experience, making it more efficient, transparent, and secure for both financial institutions and borrowers.

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Members of the Institute of Software Practitioners of Nigeria (ISPON), have elected new executives to lead the group from 2023 to 2025.

TechEconomy can report that Mr. Bimbo Abioye, an accountant turned IT executive, has been elected the President of ISPON.

He takes over from Mr. Chinenye Mba-Uzoukwu, the immediate past president.

ISPON is the industry professional body for indigenous software developers and practitioners in Nigeria.

Meet the ISPON Executives 2023-2025

1. President: Bimbo Abioye
2. 1st Vice President: Mrs. Fatumata Soukouna-Coker
3. General Secretary: Efe Emore
4. Treasurer: Mr. Raymond Osumah
5. Chair, Policy & Strategy Committee: Dr. Uche Mbanaso
6. Chair, Diaspora Committee: Prof. Yakub Aliyu
7. Chair, Media & Publicity Committee: Uzo Nwani
8. Chair, Education & Capacity Building Committee: Peter Ogedengbe
9. Chair, Membership Committee: Israel Olakanmi

The new executives were elected at ISPON Conference and Extraordinary General Meeting (AGM) held on Friday, June 16, 2023 in Lagos.

Bimbo Abioye

The experienced Chief Executive Officer of FinTrak Software Company, has a demonstrated history of working in the information technology and services industry.

Skilled in risk management, enterprise software, data warehousing, International Financial Reporting Standards (IFRS), and management consulting, Mr. Abioye is a strong business development professional.

Bimbo Abioye holds an MBA in information technology from Olabisi Onabanjo University and a certification from the Institute of Chartered Accountants of Nigeria. He worked at ADH as an internal auditor for two years and later as head of finance and systems at the same company.

He later moved to Reliance Bank, where he worked as a group head for financial control and ICT services and Acting General Manager of Operations and Technology.

He has been the Group Managing Director at FinTrak Software since 2006.

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