PIC Solutions Implements Account Origination Solution in Nigeria

Cape Town, 2 June 2005 – PIC Solutions has successfully implemented CreditDesk in United Bank for Africa, to improve the Bank’s credit application processing environment.

United Bank for Africa (UBA) is the third largest bank in Nigeria. The Bank has over 220 branches in Nigeria’s major commercial centres, state capitals and Federal Capital Territory with two offshore branches in New York and Grand Cayman Island.

CreditDesk International 2.1, origination and underwriting software from Fair Isaac Corporation, is designed to improve the profitability and efficiency of an organisation’s credit application processing environment. CreditDesk automates both the origination and risk evaluation of individual credit applications. This enhancement will enable United Bank for Africa to accelerate the process of utilising common decisioning and methodologies.

Lamido Sanusi, Assistant General Manager at United Bank for Africa, comments that, “We identified the need for an automated scoring environment in our Bank and the CreditDesk software provided an excellent match for our functionality requirements and business objectives. The PIC Solutions consultants’ experience and knowledge ensured the successful implementation of this account origination solution. The outcome of this assignment has exceeded expectations and, as a result, we look forward to working with PIC Solutions on future projects.”

Stephen Leonard, Managing Director of PIC Solutions, adds, “PIC Solutions specialises in decision strategy design, testing and tracking in the African marketplace, and we were delighted to have been selected by United Bank for Africa for this assignment. This was the first CreditDesk to be implemented in Nigeria, and during this assignment our experienced strategy consultants worked with United Bank for Africa to develop an initial set of decision strategies that will provide the Bank with a true competitive advantage.”