• Wednesday, May 29, 2024
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BusinessDay

Commitment to offering attractive and competitive interest rates for our investors, robust risk management practices positions us as a trusted choice

Commitment to offering attractive and competitive interest rates for our investors, robust risk management practices positions us as a trusted choice

Creditville, a proprietary financial technology group, has evolved as a robust player in the Nigerian fintech space, offering impressive range of services tailored to deliver exceptional value to all classes of individuals and beyond. In this interview with Business Day, the company unveils its unique propositions for clients, product analysis and experience.

Could you give us a synopsis of what Creditville does?

Creditville is a dynamic proprietary fintech group based in Victoria Island, Lagos, with a robust nationwide presence through its five branches across Nigeria. Established in 2013, Creditville has evolved to become a multifaceted financial services provider offering a comprehensive suite of services, including loans, lease, investment, asset management, digital banking, foreign exchange, and real estate.

Can you elaborate on Creditville’s market position and how it leverages the experience and financial strength of its core investors in the Nigerian financial, forex, and real asset markets?

Creditville has strategically positioned itself as a significant player in the Nigerian financial landscape, effectively leveraging the experience and financial strength of its core investors. Specifically, in the Nigerian financial market, Creditville leverages its investor-backed financial strength to provide innovative and accessible financial solutions. Whether through loans, leases, or investments, the company’s robust financial position allows it to offer competitive terms and cater to the diverse needs of its clientele.

How does Creditville differentiate its investment products, especially those focusing on capital preservation, income generation, and asset class diversification?

Creditville strategically differentiates its investment products by leveraging the expertise of its experienced wealth managers and offering a diverse range of financial instruments tailored to address specific client needs, through its subsidiary, Redwood. Another prominent offering in this regard is the Fixed Placement Plans, a product offering from Creditville MFB Ltd, which has been meticulously designed to balance the generation of substantial income while prioritising the safety of customers’ deposits. This product reflects Creditville’s commitment to providing clients with an avenue for capital preservation without compromising on income generation, a delicate equilibrium often sought by investors. Furthermore, Creditville has embraced digitization to enhance accessibility and inclusivity. The introduction of the C Money App represents a significant step in this direction, catering to lower-income earners who aspire to save. The app offers a range of savings options, providing a user-friendly platform for individuals seeking to diversify their savings intelligently while enjoying up to 12 per cent interest on their savings. Through these initiatives, The Group ensures that its products are not only aligned with the diverse financial goals of clients but also cater to a broad spectrum of income groups, promoting financial inclusivity and asset class diversification in the investment portfolios of its clientele.

Could you provide insights into Creditville’s approach to risk management and how it ensures the preservation of capital for its clients?

Creditville adopts a proactive and comprehensive approach to risk management, prioritisng the protection of customer capital and assets. Operating on multiple fronts, our risk management framework encompasses robust layers such as maintaining strong positions in capital and liquidity to withstand market shocks.

Conservative underwriting standards, stringent limits on market risk, and a focus on high-quality borrowers ensure a vigilant stance against potential credit-related challenges. Moreover, substantial investments in technology, coupled with strict compliance and legal adherence, mitigate operational risks.

In a landscape with numerous investment platforms, how does Creditville prioritise its clients’ best interests and maintain a client-centric focus in its services?

In the dynamic landscape of numerous investment platforms, Creditville sets itself apart by placing an unwavering focus on prioritizing clients’ best interests and upholding a client-centric approach to our business. Creditville’s personalised approach, through Redwood, ensures that clients receive investment options precisely aligned with their individual needs, fostering a sense of trust and alignment between the platform and its clients. Additionally, Creditville emphasises transparent communication, providing clients with clear and comprehensive information about investment products, associated risks, and potential returns. This commitment to transparency not only empowers clients to make well-informed decisions but is also crucial in building a lasting and mutually beneficial relationship.

Can you detail the range of investment products and services that Creditville provides, including Eurobond linked notes, mutual funds, portfolio, and liquidity management services?

Creditville, through its subsidiary, Redwood Asset Management, provides a comprehensive range of investment products and services, tailored to meet the diverse needs of our clients. Our offerings include bespoke portfolio management services and collective investment schemes designed for various client segments. For large institutions and High Net Worth Individuals (HNIs), we offer personalized portfolio management services, ensuring that their investment objectives, time horizons, and risk appetites are effectively addressed. This service caters to those seeking tailored strategies for optimal returns aligned with their specific financial goals.

Redwood’s investment products cater to mass affluent and retail clients, providing accessible and diversified investment options. These include money market funds for effective liquidity management, fixed-income funds designed for longer tenure with low risk and higher yield investments, and an equity fund tailored for investors with a higher risk appetite aiming for robust returns.

What do you consider to be Creditville’s competitive advantage in the Nigerian investment market, particularly in comparison to other investment platforms?

Creditville offers a competitive advantage through the C Money App, a digital innovation that enhances accessibility. This user-friendly platform not only caters to a broader audience, particularly lower-income earners, but also provides a diverse range of savings options. Furthermore, our commitment to competitive rates adds another layer to our appeal. By offering attractive and competitive interest rates, Creditville, through Redwood, ensures that investors not only benefit from a secure investment environment but also enjoy favorable returns on their investments. In addition, Creditville’s robust risk management practices set us apart by creating a resilient and safe environment, ensuring that our clients’ investments are shielded from unexpected market fluctuations and downturns. The emphasis on comprehensive risk management, coupled with oversight from our board risk committee, positions the group as a trustworthy choice for financial services.

Considering Nigeria’s investment outlook, how does Creditville align its strategies with government initiatives to attract foreign investments and diversify the economy?

In light of the current challenges in the Nigerian investment landscape, particularly the multi-decade high inflation, negative real returns, and FX pressures, Creditville recognizes the Central Bank of Nigeria’s (CBN) efforts in steering the economy in the right direction. The decision to increase treasury bills rates, coupled with maintaining a relatively cheap naira, is seen by Creditville as a positive move that is likely to attract foreign capital to the Nigerian capital market. The Creditville Group will continue to align its strategies with government initiatives to create an enabling environment for investment, ultimately contributing to the diversification of the Nigerian economy. What are Creditville’s plans for future growth and expansion, both in terms of product offerings and market presence, considering the evolving landscape of investment opportunities in Nigeria?

Creditville is strategically positioning itself for future growth and expansion by undertaking a comprehensive diversification of our product offerings. This initiative is aimed at meeting a diverse range of needs within the market. Likewise, we are making substantial investments in digital transformation, with a focus on enhancing customer experiences and accessibility through the implementation of cutting-edge mobile banking apps, online platforms, and seamless digital payment solutions. This approach aligns with the evolving landscape of investment opportunities in Nigeria, ensuring that we stay ahead of the curve in meeting the changing needs and preferences of our clientele. Moreover, we remain committed to maintaining a robust risk management framework and upholding the highest standards of compliance with regulatory requirements, thereby reinforcing trust and credibility within the industry and among our valued customers.