Bluering sponsors the Middle East Digital Lending Summit 2022
The Middle East Digital Lending Summit 2022 took place on December 6 at the Pullman Dubai Creek City Center in Dubai, United Arab Emirates. The Middle East Digital Lending Summit brought together the region’s most influential organizations in the field of digital lending.
Bluering was an official bronze sponsor of the event, and Mr. Fares Kobeissi, CEO of Bluering, was among the regional and international executives and presenters at the Middle East Digital Lending Summit. He discussed how developments in the lending industry in the region are altering the game’s rules. In his talk titled “Designing next-generation credit decision models,” he spoke about the future of credit risk and credit scores. He recognized that credit decision models favorably influenced the lender’s revenues, credit-loss rates, and efficiency gains. As a result, he believes in the potential that credit scoring models provide to lenders.
“Credit decision models face several challenges, including access to clean data, adequate interoperability and integration infrastructure, credit modeling skills and resources, and high customer expectations. Nevertheless, credit scoring models help lenders enhance their credit accuracy and profitability, decrease non-performing loans, boost efficiency and productivity, increase market share, and help them comply with regulatory requirements” Mr. Kobeissi mentioned in his keynote speech.
He also spoke of customizing credit decision models for various asset classes such as Corporate, SMEs, MSMEs, and Retail. Furthermore, he underlined the significance of data in credit scoring efficiency. “One of the most significant parts of credit decisions is data. Lenders must rely not only on traditional but also on alternative data to make better credit judgments,” Mr. Kobeissi said.
Finally, he outlined Bluering’s step-by-step methodology for implementing a credit scoring system and said that “scoring is a continual activity, not a one-time project.” As a result, he advised lenders to invest continuously in innovative approaches and models that consider the most recent technology and market expectations.
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Bluering is a fintech company that delivers digital lending and credit risk management solutions to the banking industry. Bluering is Standard & Poor’s Global partner with end-to-end digital lending solutions that assist banks and financial institutions in maintaining complete control over their credit management process, growing their portfolio, reducing non-performing loans, meeting customer expectations, and complying with internal and external regulations and policies. Furthermore, Bluering’s high-caliber team of experts offers turnkey implementation services such as consultation, data migration, data integration, business process reengineering, training, project management, and more.