PIC Solutions Develops Credit Scoring Solutions for National Bank of Kuwait

Dubai, 28 August 2007 – PIC Solutions Develops Credit Scoring Solutions for National Bank of Kuwait

National Bank of Kuwait (NBK) selected PIC Solutions to develop application scorecards for the Bank’s revolving credit card portfolio.

As the first national bank in Kuwait and the Arabian Gulf region, National Bank of Kuwait S.A.K. has become a financial leader in the Arab world. With capital resources exceeding $2.2 billion, National Bank of Kuwait is ranked amongst the top 300 banks in the world and the fifth amongst Arab banks. The Bank is committed to improving its risk management policies and has partnered with PIC Solutions to develop effective scoring solutions that will enhance their bottom-line results.

During this analytical project, members of the PIC Solutions predictive modelling team will work closely with the Bank’s risk management personnel to ensure the successful implementation of the new application scorecards. The scorecards will be designed to achieve maximum benefit in the selection of the Bank’s credit card portfolio.

Chip Morton, Deputy General Manager, Retail Banking at National Bank of Kuwait, comments, “PIC Solutions has a firm understanding of our business and our strategic objectives. We are committed to improving our applications processes and PIC’s extensive scoring solutions are designed to streamline business decisions. We look forward to implementing these scorecards to enhance our applications processing capabilities and ensure we accurately assess our growing client base.”

Eva Neves, Department Head of Scoring and Analytic Services at PIC Solutions, adds, “PIC Solutions has set the benchmark for providing specialised scoring developments in the Middle East. National Bank of Kuwait will use these scorecards to enhance the quality of their credit evaluation process and our experienced analytical team will ensure the scorecards provide significant business benefits.”