Corporate credit is one of the major sources of income to banks and financial institutions. It is also one of the main areas of risk that can directly affect their profitability, credibility and growth. Credit portfolios have long been a critical issue to private banks, central banks and regulatory bodies.
Retail Credit has been booming for the past decade, allowing banks to expand their reach. As a result, many new banking products are being introduced and the market has become extremely competitive.
SMEs are increasingly becoming a priority in the MENA region, as they form a major driver for today's developing economies. Banks’ financing of SMEs will contribute to the economic development of emerging markets.
The banking sector is facing increasingly strict credit regulations, from BASEL to IFRS9 to national decrees. Complying to those requirements is a big challenge on all banks globally and is forcing them to implement systems and solutions.