Modefinance International and Bloomfield together, for credit rating automation

modefinance 7 April 2022

The launch of Tigran for Bloomfield in Africa

Another huge milestone for modefinance international, as the first French-speaking African Rating Agency Bloomfield Investment Corporation signed a deal to start adopting modefinance's patented risk management software, Tigran Risk Platform.

The partnership is aimed at enhancing Bloomfield with a unique, flexible AI-based platform, able to automate their internal credit risk assessments' procedure, while contributing to a more transparent, objective and cost-effective Credit Ratings' world. Furthermore, this will facilitate a supportive ecosystem for SMEs to better access credit.

Bloomfield presence in the entire Region – involving Ivory Coast, Senegal, Cameroon, Benin, Burkina Faso, Togo and Niger – makes them a keen observer and bold contributor to the economy, able to respond to business needs, and thus proposing an advanced rating system for borrowers' and bond certificate issuers' credit risks. The concept of Rating-as-a-Service, integrated within Bloomfield procedures for credit rating assessment, is modular and fully customizable, and thanks to its Plug-N-Play capabilities will positively impact times and costs, as well as eliminate manual-input risks.

Stan Zeze-Bayard, Bloomfield Investment Corporation CEO &Chairman, commented: "The development, promotion and marketing of Tigranfor Bloomfield in 7 African countries will contribute to improving the creditrisk management of SMEs."

"Getting rid of manual data and documentation process enables a modern, tech-based offer for a far faster and more convenient Credit Rating service, fueling the credit access for SMEs. This new partnership connects two like-minded Rating agencies under the Fintech umbrella, to take Ratings to the next level and really reap the benefits of the technology to the customers", said Cristian Giacomini, modefinance international CEO. 

The partnership

Bloomfield Investment Corporation is the first Francophone African Rating Agency, dedicated to offering corporates, financial institutions and SMEs a bold and objective Credit Rating, for a more agile access to credit. Able to respond with transparency and strong credibility to financial needs in more than seven countries, Bloomfield was chosen for the innovative capabilities introduced in the proprietary rating system, and the agreement consists precisely in the integration, development and distribution of patented proprietary software. of risk management, Tigran Risk Platform, in Ivory Coast, Senegal, Cameroon, Benin, Burkina Faso, Togo and Niger.