- Website: www.compuscan.co.za
- Sector: Financial Services
- Country of operations: Multiple
A credit to its customers
South Africa’s Compuscan group has become one of the largest independent credit bureaus in Africa, but it offers far more besides credit referencing. Its various divisions, which include Compuscan Academy, ScoreSharp and P:Cubed, offer a range of other services including marketing, loyalty and rewards schemes, data analytics, and consultancy and training services.
Compuscan says its combination of accurate information, world-class analytics and trusted advice enables its clients to make smarter decisions. “We are proud data scientists on a relentless quest to help businesses make better decisions, minimise risk and maximise profits, while at the same time protecting the consumer from over-indebtedness and reckless borrowing,” explains Founder and CEO Remo Lenisa.
The group is also something of a pioneer in the countries it targets.
For example, when it entered the Ugandan market it became the country’s first credit bureau. “We seized the challenge, setting up Uganda’s first biometric ID system, linking this to the bureau data,” says Remo, “and in the process greatly increasing financial inclusion in the country, providing access to credit to those who would not otherwise have it.”
“We are proud data scientists on a relentless quest to help businesses make better decisions”
Founder and CEO Remo Lenisa
The company now aims to become the leading credit bureau and analytics business for emerging markets. As it continues to grow, developing new data sources will be essential, as will addressing concerns around privacy and data sharing. “New data sources that can enhance the predictive nature of our analytical models remains a top priority,” says Remo. “However, we anticipate many regulatory changes that can influence the value that we can unlock from the data. One such example includes privacy laws and the protection of personal information.”
Successfully meeting these challenges could bring wider benefits to African countries, believes Remo. He says: “By supporting the creation of a legal framework promoting data sharing in a responsible manner, credit bureaus can function more effectively, financial inclusion can be increased and it can stimulate economic growth.”
The company plans to expand further into emerging markets throughout Africa and now employs 400 staff in eight countries.
- Compuscan was started over 20 years ago and now employs 400 staff in eight countries