CompuScan Credit Reference Bureau (CRB), licensed by Uganda’s central bank to provide credit services, has chosen Uganda Telecom as its data services provider.
CompuScan CRB, the Ugandan subsidiary of CompuScan Information Technologies of South Africa, will initially pay Uganda Telecom 140 million shillings (about US$89,743) annually to provide the backbone on which the CRB will be hosted and accessed by financial institutions.
The two companies signed a service level agreement where the telecom company will provide a dedicated Internet link and a leased line to CompuScan. Under the agreement, CompuScan will receive a Uganda Telecom data link — a connecting circuit allowing for secure direct transfer of data between two connected points.
Mike Malan, the managing director of CompuScan, explained that his company took on Uganda Telecom after a rigorous search for the most competent firm.
“We finally chose Uganda Telecom because they are in a better position to provide the backbone which will host this Credit Reference Bureau,” Malan said.
The agreement brings the number of solutions CompuScan receives from Uganda Telecom to three. Earlier in the year, CompuScan chose Uganda Telecom to host the data services of the CRB.
The CRB is a secure database of shared loan repayment information that can be viewed by member licensed financial institutions only.
It is an initiative by Bank of Uganda (BoU) aimed at strengthening the financial sector by making it easy for lending institutions to know the credit history of borrowers before they dispense loans.
