PIC Solutions Develops Scoring Solutions for Absa Bank
Released on: October 9, 2008, 3:12 am
Press Release Author: PIC Solutions
Industry: Financial
Press Release Summary: Cape Town, 9 October 2008 - Absa Group Limited (Absa), one of South Africa's largest financial institutions, has selected PIC Solutions to develop and implement expert application scorecards for its retail customers in Mozambique, through its subsidiary Barclays Bank Mozambique
Press Release Body: Absa, a member of Barclays Bank Plc, serves personal, commercial and corporate customers in South Africa and also provides products and services to selected markets in Angola, Mozambique and Tanzania.
During this assignment, the PIC Solutions predictive modelling team will develop the expert application scorecards, using best practice expertise, to ensure that the new scorecards optimise Absa's applications decisions. The PIC Solutions consulting team will work closely with the Absa new accounts personnel to implement the scorecard. In addition, as part of the scorecard implementation service, they will provide training and ensure that the scorecards are utilised according to best practices and Absa's return on investment is maximised.
Willem Steyn, Functional Head Risk Management at Absa, states, "We chose to work with PIC Solutions as they offer innovative credit scoring solutions that adapt to the changing dynamics of the global credit-granting arena. We plan to use the new application scorecards to enhance our credit processes, minimise business risk and generate extensive business benefits."
Stephen J. Leonard, Chief Executive Officer at PIC Solutions, comments, "PIC Solutions is committed to providing unique solutions to meet the ever-changing needs of our clients. We understand the importance of implementing scorecards that not only comply with new regulations but also meet business objectives. Our extensive understanding of risk modelling techniques and best practices will ensure that the application scorecards provide Absa with the capability to accurately assess credit applicants. Absa will then be able to effectively streamline their decisions and identify potential risk. No other company has the track record or range of experience of developing scorecards in the Africa and Middle East region."
About PIC Solutions PIC Solutions is the leading specialist credit risk solutions company in the EMEA region. With offices in Cape Town, Dubai, Johannesburg, Manama and Nairobi, we deliver integrated analytics, consulting and software solutions to over 150 companies in 30+ countries. We work worldwide with organisations to improve performance, drive strategies and enhance profitability. Analytics | Consulting | Software
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