The Saudi British Bank Adopts Fair Isaac`s Global FICO Score for Faster, Sharper Credit Decisions
Released on = August 23, 2006, 10:37 pm
Press Release Author = PIC Solutions
Industry = Financial
Press Release Summary = Dubai, 24 August 2006 - Fair Isaac Corporation today announced that The Saudi British Bank (SABB), an associated company of HSBC Group, has implemented Global FICOŽ score to enhance its decision making process throughout the customer credit lifecycle.
Press Release Body = Dubai, 24 August 2006 - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced that The Saudi British Bank (SABB), an associated company of HSBC Group, has implemented Global FICOŽ score to enhance its decision making process throughout the customer credit lifecycle.
Global FICOŽ score applies Fair Isaac's industry-standard FICOŽ credit risk scoring technology to rank-order consumers according to their credit risk. Designed to be consistently scaled across credit bureaus and across national borders, Global FICOŽ score has established a global standard for consumer credit risk assessment. The Fair Isaac technology underlying the Global FICOŽ scoring model enables rapid deployment in any country with credit bureau data.
"Credit bureau data is now readily available in Saudi Arabia," said Narayanan P. R., Senior Manager, Retail Risk of The Saudi British Bank. "To derive full value from that data in our daily operations, we need a robust credit bureau risk score. We are excited about using Fair Isaac's Global FICOŽ score to gain a more detailed view of our clients' credit profiles and make the most effective decisions."
"The Saudi British Bank has brought to its operations the same advanced analytic technology that has long fuelled the U.S. credit industry," said Ron Totaro, general manager of Global Scoring Solutions for Fair Isaac. "As the best tool in its class, Global FICOŽ score will help SABB to expand its portfolios while still controlling and monitoring its risk. And as the bank grows its markets, Fair Isaac will make sure its Global FICOŽ scores are consistently scaled across credit bureaus and across national borders for seamless risk management."
PIC Solutions, the Fair Isaac alliance partner for the Middle East Africa region, implemented the new scoring solution for The Saudi British Bank.
In addition to Saudi Arabia, Global FICOŽ score is currently live or is being implemented in Turkey, Poland, Sweden, Ireland, Panama, Jamaica, Mexico, Singapore, South Korea, Taiwan and Thailand, and is currently being evaluated in other countries by a growing number of institutions. Global FICO score is available to lenders and credit bureaus in any country where robust credit bureau data is available, except in the United States, Canada, United Kingdom and South Africa, where Fair Isaac credit scores are already available.
About SABB SABB is an associate Company of the HSBC Group, one of the world's largest banking and financial services organisations with more than 9,800 offices in 77 countries and territories across Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. This association means that SABB customers not only have access to our own market-leading services and customer care, but can also tap into the HSBC Group's global network, resources, skills, specialist knowledge and expertise. SABB operates through a network of 73 branches, including 12 exclusive Ladies' branches, with a team of 2251 employees, of whom 83% are Saudi nationals. Our range of banking services includes Personal, Commercial, Corporate, Private and Islamic Banking; Investment, Treasury and Trade Services, and Credit and ATM Cards that are welcomed in more than 18 million commercial outlets within the Kingdom of Saudi Arabia and around the world.
About Fair Isaac Fair Isaac Corporation (NYSE:FIC) makes decisions smarter. The company's solutions and technologies for Enterprise Decision Management give businesses the power to automate more processes, and apply more intelligence to every customer interaction. Through increasing the precision, consistency and agility of their decisions, Fair Isaac clients worldwide increase sales, build customer value, cut fraud losses, manage credit risk, reduce operational costs, meet changing compliance demands and enter new markets more profitably. Founded in 1956, Fair Isaac powers hundreds of billions of decisions per year in financial services, insurance, telecommunications, retail, consumer branded goods, healthcare and the public sector. Visit Fair Isaac online at www.fairisaac.com.
About PIC Solutions PIC Solutions provides consumer credit solutions to a wide range of blue-chip organisations. We are experts in the fields of credit, risk and software and have an established track record of success powered by solutions.
PIC Solutions is the Fair Isaac alliance partner for the Middle East Africa region and from offices in Cape Town, Dubai and Johannesburg, provides all sales and support for the entire suite of Fair Isaac products and services. This includes consulting, project management, integration services, first line software support and ongoing maintenance.
Our ongoing commitment is to enable clients to optimise the credit life cycle.
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