JuicyScore, a global leader in antifraud and risk management technologies for online-businesses has expanded its global footstep to Nigeria recently and roped in Lawrence Osayemi as Regional Director of Sales and Business Development in Nigeria.
Lawrence is a professional risk and fraud management expert and sales doyen with a demonstrated history of working in the financial and nonfinancial services space. He joins JuicyScore from CreditRegistry Nigeria where he served as Lead, Engagement Executive for Fintech & Non-financial Institutions. Prior to that, he was responsible for developing, managing, and supporting product/service design for a diverse portfolio of over 300 corporate entities across commercial Banks, Fintechs, manufacturers, telcos, classifieds, betting companies, oil and gas, etc.
Through his strategic and progressive career at Nigeria’s largest credit bureau, Lawrence has gained a wide range of experience in using data to improve business requirements, design new products, and ultimately reduce/eliminate risk and fraud.
According to Lawrence, speaking on the selling point of the unique services of the Singapore based innovative financial tech company “JuicyScore is going to deal with one of the major challenges in the Nigerian market, which is making financial services more accessible to everyone and also making the process of credit obtaining much safer for all transacting parties.”
“Nigeria is currently experiencing an evolution in how credit decisions are being made.” says the young Director.
He also added that outside the traditional credit evaluation systems based on pieces of information like credit history, payment history, debt ratios, etc. which further excludes a large number of people with no credit history, lenders are now leveraging alternative data, Artificial Intelligence and Machine Learning to strengthen customers’/business profiles and this means they can say yes to more people.
But why Nigeria? Mr. Osayemi explains: “JuicyScore has come into the African/Nigerian financial landscape to aid credit decisioning with alternative non-personalized data.
In most cases, financial service providers/institutions do not have enough information on banked customers to make an informed credit decision. JuicyScore provides AI-based credit scoring and with this “alternative data” can detect reliable, predictive patterns and help in financial inclusion and greater penetration of credit, showing, that personal data isn’t mandatory for fraud prevention.”
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