Riyad Bank Signs RiskMentor Consulting Contract with PIC Solutions

Cape Town, 19 May 2005 - Riyad Bank, a leading bank in the Middle East, has signed a RiskMentor consulting contract with PIC Solutions.

Riyad Bank is based in Riyadh, Saudi Arabia and provides a full range of consumer credit products to its clientele. The Bank is at the forefront of credit risk management technology and has utilised sophisticated applications processing and account management software and scoring for a number of years.

Through this RiskMentor contract Riyad Bank has access to professional resources from any area of PIC Solutions expertise. This includes credit risk management consulting, analytics, project management and software services. The RiskMentor service is on a retainer-basis and ensures maximum productivity, combined with fixed monthly budgeting.

Abdullah Al-Nami, Credit Risk Manager at Riyad Bank, states, “Riyad Bank is focused on bringing our clients the latest in banking technology and services. PIC Solutions has an in-depth knowledge and understanding of the Middle East market and this RiskMentor contract will provide us with an innovative means of obtaining consulting expertise, whenever it is required.”
 
Dave Lewis, Director at PIC Solutions, adds, “We are pleased that Riyad Bank has recognised the credit risk management and analytical skills that PIC Solutions offers to the Middle East market. PIC resources will provide consulting support to Riyad Bank throughout the credit life cycle to identify opportunities that will realise ‘bottom line’ benefits for the Bank.”