Compuscan is a specialist credit information technology company. Compuscan provides risk management solutions to its clients – these include mainstream banks, microfinance institutions, micro-lenders, utility companies, co-ops and credit unions. It is the main credit reference bureau in Uganda currently.
Compuscan proposes to build a rural agricultural finance credit bureau for small lenders. This will be a biometric based credit reference bureau which will, for example, store credit data and collaterals, allow loan processing, and store specific agricultural data. This is complemented by a ready-to-go Loan Management System (LMS) that is an optional add-on. The LMS is also available as a stand-alone product to small lenders.
A credit reference bureau is an important support function for any credit market and particularly important for smallholder farmers. By including agricultural information into the credit reference bureau, a richer picture can form of the credit-worthiness of farmers – as opposed to the current scenario where rural farmers are cut out of borrowing due to their lack of a formal credit history.