Award-winning innovation reshapes credit evaluation, deepens financial inclusion and reinforces CDB’s tech-first strategy
Citizens Development Business Finance PLC (CDB) continues to earn national recognition for its trailblazing AI-Powered Credit Decision Making System, winning Silver in the Digital Transformation Project of the Year category at the CIMA – JXG Pinnacle Awards 2025. Marking the second major accolade for the project given the award won last year at the National ICT Awards NBQSA 2024, this Silver underscores the consistent excellence and impact of CDB’s digital innovation journey.
The award-winning system, developed entirely in-house, draws on CRIB data through direct API integration, offering real-time access to critical credit information. By harnessing advanced AI algorithms, it evaluates a broad spectrum of data to generate highly accurate credit assessments. This is further reinforced with an AI-powered vehicle valuation module, which determines the collateral value of vehicles – a key asset in vehicle-based credit decisions. The result is a credit decision-making model that is informed, swift, reliable and rooted in robust asset understanding.
“This AI model is an essential pillar of our future-forward credit assessment strategy,” says Director – Business Operations Dave De Silva. “With AI evolving rapidly and competition intensifying across financial services, our aim is to deliver unmatched service through speed and precision in credit decision-making – setting new standards for customer experiences. Importantly, the system has been instrumental in the successful implementation of risk-based pricing, enabling data-driven differentiation of customer risk profiles – ensuring credit is priced accurately and fairly.”
General Manager – Credit Sudath Fernando compares tangible advantages over traditional manual approval methods. “We have seen improvements in credit quality, reduced de
CDB’s digital journey began with its Robotic Process Automation (RPA) programme in 2019, incorporating OCR, ICR, BOTs, and API-based integrations. These innovations laid the foundation for deeper technology-led disruptions, transforming CDB’s operating model into one that emphasises virtual operations, remote collaboration and enhanced agility. As a result, CDB has not only optimised internal processes and reduced costs but also established a future-ready, resilient infrastructure which redefines how financial services are delivered.
