Metropol Credit Reference Bureau (MCRB) has launched a new platform called Metropol Crystobol which is aimed at allowing borrowers have control of their credit information.
The borrowers with the new platform, can directly and conveniently access the bureau products at their disposal on their mobile devices.
According to Samuel Mukoko the Chief Executive Officer Metropol Credit Reference Bureau, the customers will gain access to the service by dialing *243# and following the message prompts.
“A cutsomer needs to key in their financial card numbers in order to proceed and register on crystobol upon registration and they are automatically entitling to a free annual credit report,” Mukoko said.
Mukoko revealed that the new platform will empower borrowers to take control of their creditworthiness by allowing them easily access affordable credit.
“The product also pus the borrower in a position where they are able to negotiate favorite credit terms with the lending institutions such as banks and that way they get to choose their preferred lender”.
While addressing Journalists at the Kampala Serena Hotel on Wednesday (May 8th, 2019), Mukoko added that their key focus areas are to encourage more consumption, facilitate investment and support production.
“There is a relationship between how you manage your finances and how you perform. If you handle your finances poorly you will under perform but with the new platform it can keep you in check using Data, Analytics and intelligence”.
The credit reference bureaus have been operating in Uganda for over a decade and a majority of Ugandans remain ignorant on the relevance of the bureaus and what credit reports actually mean.
Mukoko concluded by urging Ugandans to move from relying on credit reports to using credit scores which he said are less voluminous and preferred by the lenders.