Cape Town, 1 November 2005 – HomeChoice, a leading mail order catalogue company, has selected PIC Solutions to re-develop the application scorecards for their ‘Core’ HomeChoice accounts.

HomeChoice is the largest home shopping group in South Africa and is involved in the direct marketing of an exclusive range of products both on a credit and a cash basis, through the use of catalogues.
 
In this analytical project, members of the PIC Solutions predictive modelling team will re-develop the application scorecards and work closely with the HomeChoice risk management team to ensure that the implementation and ongoing usage of the risk models will generate significantly improved results.

Andrew Goodrich, Credit Risk Director at HomeChoice, states, “The National Credit Act will dramatically impact our applications processes and credit strategies going forward. PIC Solutions has a firm understanding of our credit environment and the challenges we face in the South African credit industry. We anticipate that the re-development of our scorecards will enhance the quality of our credit application evaluation process and lead to improved profitability and significant business benefits.”

Eva Neves, Senior Consultant at PIC Solutions, adds, “It is vital for credit organisations to proactively maintain or update their scorecards in order to sustain any changes in the credit industry. PIC Solutions has set the benchmark for providing credit risk management and turnkey scorecard developments and we look forward to working with HomeChoice on this assignment.”