(Above from left) Madhawa Madhuranga (Senior Software Engineer - Information Technology), Roshan Asbury (Deputy Manager, Shared Services - Credit Administration Unit), Deepal Akuretiyagama (NDB Chief Operating Officer), Dimantha Seneviratne (NDB Director/Group Chief Executive Officer), Nandi Anthony (Director/General Manger, CRIB) and Indika Dissanayake (Operations Manager, CRIB)
NDB has become the first bank to connect host to host with the Credit Score Instant Decision Module introduced by the Credit Information Bureau (CRIB) through Application Programming Interface.
Commenting on this milestone, Director/Group CEO Dimantha Seneviratne said in a media release that this will enable the bank to have online access to Sri Lanka’s first credit scoring system - the ‘CRIB Credit Score’ Instant Decision Module.
“This new scoring method developed by CRIB provides the bank with a consistent indication of the risk level, credit-worthiness, and probability of default of a particular borrower,” he said, adding “With this latest revolutionary method, the bank will be able to assess potential customers utilizing the high informational value and credit scores which will be used more widely in the economy going forward. Accordingly, the bank will be able to receive more in-depth information in the process of decision making via the Credit Scores.”
CRIB Credit Score is calculated based on an algorithm, which incorporates key aspects of a borrower including payment behaviour, over indebtedness, demographics and utilization of available credit. Therefore, these scores again will provide more in-depth information for the decision making of financial institutions.
Mr. Seneviratne further stated that the benefits to borrowers from the Credit Score include faster credit evaluations, credit facilities with better conditions and higher credit limits by maintaining optimal scores.
He added that the latest credit scores would provide a sound and consistent indication of historical credit worthiness, risk level and reliability of a potential borrower. By integrating with this system, the bank will be able to minimize human intervention, store data for decision-making and enable custom printouts to ensure documentation processing efficiency.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
All Ceylon Makkal Congress MP Ali Sabri Raheem had been arrested by Kalpitiya police after he surrendered to the police today morning.
Senior DIG Nilantha Jayawardena has been sent on compulsory leave pending disciplinary investigation over his failure to prevent the Easter Sunday bombings.
The 22nd amendment to the constitution dealing with the term of the President has been gazetted by order of President Ranil Wickremesinghe.
Auspicious times widely followed by candidates keeping with traditions will be taken into consideration by the Election Commission in fixing the date and time for the conduct on the Presidential polls.
The Cabinet of Ministers has granted policy approval to change the wording “exceeding six years” in paragraph (b) of Article 83 of the Constitution to “exceeding five years” with reference to the President’s tenure.
Leave Comments