Absa Bank Selects PIC Solutions for Software Services

Cape Town, 15 September 2004 – Absa Bank, one of Africa’s largest financial services organisations, has signed an extended CredITMentor contract with PIC Solutions.

Absa Bank, in their Card Division, was the first bank in South Africa to implement the Fair Isaac TRIAD^TM account management system, which has become the de facto standard for banks in Europe, North America, Latin America and Asia-Pacific. Absa Bank offers their clients a full range of banking facilities including current accounts, personal loans, mortgage bonds, savings accounts and credit cards.

Under this CredITMentor contract PIC Personnel will assist the Absa Credit Card Division with a number of IT projects. The flexibility of the CredITMentor contract will enable Absa Bank Card Division to ‘reserve’ a specified number of support hours over a twelve months period. During this period they can make use of the PIC Solutions software services personnel, as and when they are most required. This allows for maximum flexibility of specialist resources, combined with fixed monthly budgeting.

Rian Stander, Vendor Consultant: Production Support at Absa Bank comments that, “We are delighted to expand our relationship with PIC Solutions through this CredITMentor contract.  Our access to skilled PIC resources will not only ensure that Absa Bank increases all data-driven decision-making throughout Financial Services but that the Credit Card division increases its profitability.”

Mike Crawley, Director at PIC Solutions, adds, “We have enjoyed a close working relationship with Absa Bank for a number of years. This CredITMentor contract will provide Absa Bank with an innovative means of obtaining dedicated expertise in the most cost-effective and flexible manner and will continue to ensure that Absa Bank remains at the forefront of world-banking techniques and technology.”