Bsystems Limited|Collateral Registry Systems and Identity Verification Solutions

Overview of CRS


This is a web based collateral registry software solution designed and developed by Bsystems which can be customized for registrations securities over movable and immovable properties or collaterals to meet legal and operational requirements of the client. It allows users world-wide access to the services of the collateral registry via the internet. It provides an electronic tool to the client and its users to register/search and perform.


The Registry also provide information on the existence of relationships between lenders and borrowers as they relate particularly to movable and immovable collateral[s] as well as other ancillary functions. Bsystems has worked with the International Finance Corporation (IFC) a member of the World Bank Group and successfully implemented the Collateral Registry Solution for Bank of Ghana (BOG), Central Bank of Liberia (CBL), Department of Registrar General (DRG) of Malawi and the Central Bank of Nigeria (CBN).



About Collateral Registries


Secured lending refers to credit transactions where a creditor holds an interest in a debtor’s movable property such as inventory, account receivables, livestock, equipment, machinery, etc. as collateral to secure a loan or a debt obligation. The interest in movable property is accordingly referred to as security interest, pledge or charge.


Collateral registries are publicly available databases of interests in or ownership of assets, allowing borrowers to prove their creditworthiness and potential lenders to assess their ranking priority in potential claims against particular collateral. Reliable collateral registries or pledge systems cannot only lower the risk of loan defaults but also reduce the cost of transactions by increasing transparency. The system entails rules for creating security interest, effective procedures and protection in case of default, including enforcement and repossession.


Clear secured lending laws that allow the use of moveable collateral can therefore significantly increase the level of credit as it enables small entrepreneurs to leverage their movable assets to obtain credit. Using moveable collateral, further allows for a more efficient risk management as it leads to a better diversification of assets held by financial institutions. It also improves competition in the financial sector, by enabling both banks and non-bank financial institutions to offer secured loans. Using moveable collateral additionally creates more space for the securitization of loan portfolios in the secondary markets and enhances the ability of regulators to analyse portfolio risks.


Many developing markets have devoted most of their attention to the use of land and buildings as collateral to secure loans, while the use of movable assets as collateral is still in its nascent stages of development. The World Bank Group is supporting many developing countries in an on-going reform of secured transactions framework that seeks to increase access to credit, particularly for small and medium-sized businesses (SMEs) and its impact on the economy. This support includes legal reform and technical support for the establishment of a centralized Electronic collateral registry system.


The Collateral Registry Systems Produces the following reports:


Notice of Registration Report (Verification or Confirmation Statement)

Ammendments of Finacial Statement Reports

Certified Search Report (This Embossed with a seal or signature of the registrar)

Uncertified Search Results Report

Statistical Reports

User Reports Based on Activity

Financial Management/ Payment Reports

Security Voilation Report

Audit Reports

Search Analysis Report

Registration of Financial Statement Report

 

Features and Modules


The Collateral Registry System is an integrated application with multiple features that can be divided into a set of loosely coupled named modules to meet business and operational requirements.



Features


Process User Registration

Registration of Financing Statement:

  • Security Interests
  • Finance Leases
  • Liens

Process Search Request:

  • Legally Effective or Certified Search
  • Flexible Search
Process Financing Change Statement (Amendments):
  • Update
  • Renewal
  • Assignment or Transfer
  • Subordination
  • Register/Cancel Default Notice
  • Register Enforcement and Cancel Enforcement
  • Realization
  • Discharge or Cancellation or Termination (Full and Partial)
Generate Reports
Application Configuration
Batch Registration of Financing Statements
Support Institution Units
Configuration to Support Stamp Duty Payment
Intergration with Third Party Paltform


Modules

The Collateral Registry Solution comes with the following Modules that makes the application more useful for clients.


User Registration Module

The systems support the following type of users:

A: Clients Users Account:
  • These are regular user who has established an account with the registry to which fees for registration of notices and requests for certified search reports may be charged.
B: Government Users Account:
  • These are a government entities that takes a lien in the property of a person to secure payment of an osbligation and registers a notice of the lien or conduct a search but does not pay fees.
C: Non-client Account Users:
  • Non-client Account Users who may register a notice of lease or collateral interest or request a certified search report. Payments are made on performing chargeable transaction by entering a bank receipt number for a payment made.
D: Registry Users Account:
  • These are users of the registry and may include the Registry Administrator who perform administrative and functions for the registry and Help Desk Support users of the registry who provide day to day assistance to users of the system. May also include the System Audit Support Staff of the registry.
E: Paypoint Users Account:
  • These are users of payment outlets who, receive payment and credit the registry information technology system with payment received.
F: Public or Search Users:
  • These are users who uses the registry website to search the records of the registry to find and view notices without logging in. Do not pay to view searches or generate uncertified search report.
Administration Module:
  • Membership Administration
  • Application Configuration
Communication Module:
  • Global Broadcasting Messaging:
    This is broadcasting information to all categories of users of the system, both internal and external.
Payment Module:
  • Integrated Capability for Payment
  • Payment Reporting Features
  • Manage Transaction Fee Schedule
  • Reconciliation of Payment Features
Security Module:
  • Security (Passwords and User ID's – Authentication & Digital Signature)
  • Login Encryption/Validation
  • Server Level User Authentication
  • Tracking Mechanism of all Activity in System (Log History)
  • User Account Policy of Client
  • Password Policy of Client

 

Countries using CRS

Bsystems has worked with the International Finance Corporation (IFC) a member of the World
Bank Group and successfully implemented the Collateral Registry Solution for;

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