Capitec Bank Selects PIC Solutions for Risk Management Support

Cape Town, 30 March 2006 – Capitec Bank, a leading South African financial services institution, has signed a RiskMentor consulting contract with PIC Solutions.
 

Capitec Bank is a listed retail bank committed to providing their clients with innovative banking solutions. The Bank’s business model is built on modern front-end-technology, enabling it to provide low cost and efficient banking services to its growing clientele.  Capitec Bank has partnered with MasterCard for local and international card transactions. This partnership has led to Capitec Bank developing the world’s first off-line card system based on the EMV standard through the use of microchip technology.
 

This RiskMentor consulting contract is designed to provide Capitec with ongoing credit and risk management consulting support throughout the next year. The RiskMentor service is on a retainer-basis and ensures maximum productivity, combined with fixed monthly budgeting. An additional benefit is that Capitec will have access to all of the PIC Solutions personnel over the year, thus ensuring that the Bank meets its business objectives.
 

Jaco Carstens, Credit Risk Head at Capitec Bank, states, ”We are committed to searching for effective ways that will improve our credit policies and enhance our levels of customer service. We also intend increasing our innovative range of products and services, in addition to improving our client acquisition.This RiskMentor contract will provide us with the support we need to meet these objectives and we look forward to developing our relationship with PIC Solutions and utilising their credit and risk expertise to assist us with all future initiatives.”
 

Dave Lewis, Director of Consulting at PIC Solutions, adds, “PIC Solutions has developed a firm understanding of the dynamics impacting the South African banking industry. This RiskMentor contract will provide Capitec Bank with an innovative means of obtaining ongoing consulting support for all their banking decisions.”