Teba Bank Selects PIC Solutions for Enhanced Scoring Solution
Released on = September 27, 2006, 9:59 pm
Press Release Author = PIC Solutions
Industry = Financial
Press Release Summary = Teba Bank selects PIC Solutions to assess the effectiveness of the Bank's application scorecard.
Press Release Body = Cape Town, 28 September 2006 - Teba Bank selects PIC Solutions to assess the effectiveness of the Bank's application scorecard.
Teba Bank is a niche provider of affordable financial services to workers, their families and broader communities in Southern Africa. The Bank focuses on providing each person access to affordable financial services, no matter what they earn, treating people with dignity and respect, and educating them to manage their finances.
As part of an ongoing commitment to improving the profitability of the group, Teba Bank has contracted PIC Solutions to validate and review the rank ordering power of their current application scorecard. Teba Bank has recently expanded their consumer loans product offering. This validation process will provide the Bank with insight into the effective use of their current scorecard for the new portfolio.
During this assignment, PIC Solutions consultants will analyse the organisation's existing application scorecard and make recommendations regarding the score to odds relationship, scorecard characteristics and scorecard re-alignment.
Sharendra Naidoo, of the Credit division at Teba Bank, comments, "We have a number of new initiatives planned to maximise the efficiency and value of our consumer loans portfolio. PIC Solutions understands the dynamics impacting our organisation and we selected them for their extensive knowledge of risk modelling techniques and practices. Experienced consultants will assess our scorecard and identify changes that can be implemented to improve our applications process."
Eva Neves, Senior Consultant at PIC Solutions, adds, "Scorecards empower organisations to make effective decisions. It is vital for credit organisations to validate their scorecards and ensure they continue to get the full benefits of their predictive power. Through this validation, Teba Bank will discover how to maximise their current scorecard to meet their objective to expand their consumer loans portfolio."
About Teba Bank Teba Bank has a rich history of providing basic financial services to mineworkers and their families since 1976. The Bank is dedicated to the upliftment of working class communities by providing each person with access to affordable financial services in a way that is both respectful and educational.
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.
Our ongoing commitment is to enable clients to optimise the credit life cycle.
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