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Sambus Mitigates Banking Risk   
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SAMBUS Geo-spacial, a subsidiary of Sambus Company Limited (SCL), a leading Information Technology (IT) firm in the country has introduced the use of smart technology for the mitigation of credit risks to players in the banking sector.

The technology, Geographic Information System (GIS) software enables users to analyze several kinds of data, terrestrial features such as buildings, cities, roads, among others, on computers to make informed decisions.

GIS is a devise that can be used to visualize, question, analyze, and understand data about the world and human activity which is viewed on a map and provides an advantage over the use of spreadsheets or databases, which are being used by most organizations.

As part of plans to introduce GIS to players in the financial sector and its impact on credit risk management, a seminar themed, The Role of a geographic information system in mitigating financial/credit risk, was held in Accra recently.

Participants at the seminar included players from financial institutions, tax administrators, officials from the oil, gas and mining industries, and telecommunication companies who were briefed on how the software could help their businesses.

Samuel Larbi Darko, Executive Director of Sambus, noted that though the technology is applicable to all sectors spanning from transportation, oil and gas industry, local government, health, environment, telecommunications, agriculture, forestry management, we have decided to start with the banks.

He said with GIS the banks could map demographic data to learn more about their customers, improve communication, accurate geographic record-keeping and save money through greater efficiency.

Kofi E. Cobbold, Valuation and Estate Surveying Consultant at the Valuation and Investment Associates, stressed the need for businesses to embrace the use of GIS to help improve data analysis and mitigate risk.

He said because GIS provides the opportunity to build a database, the user can also picture the attribute of a property, which a client might be using to apply a mortgage, for example.

You can sit in your office and at the click of a bottom see direction from your office to the location of the property.

Mr. Cobbold also hinted that it would also help reduce fraudulent activities in the financial sector, some of fraudsters who either steal the document or clone it, are able to use the same document to apply for several loans or mortgages and with the GIS it would be easy to track.
Source: Daily Guide

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