Dubai, 13 February 2008 –
PIC Solutions, the largest credit risk
management consultancy in the Middle East Africa region,
launched their credit bureau score consulting service in Bahrain
in order to make lenders increase the effectiveness of their
bureau scores.
The credit bureau score is a reliable tool as
it is based on past payment history which is highly predictive
of customers’ future payment performance, in that it rank-orders
applicants effectively, and thus improve lenders’
decision-making throughout the credit lifecycle. Earlier this
year, the Benefit Company became the first Credit Bureau in the
Middle East to implement its own score, CrediScore, based
on Global FICO score from Fair Isaac. This in turn has grown the
demand for credit bureau consulting services significantly in
Bahrain, and PIC Solutions, having opened a new office in
Manama, their second presence in the Middle East, is perfectly
positioned to deliver locally based support to clients.
When used in conjunction with expert
consulting from PIC Solutions, the bureau score becomes more
powerful still, as PIC Solutions experts have vast experience in
the analysis of credit bureau scores, data management, the
technology used to streamline the process of using the credit
bureau score and the development of risk score cards. PIC
Solutions is familiar with the practical aspects of integrating
the credit bureau score in banks, and deliver best practice
solutions to the complex questions associated with developing
strategies in using the score.
Ian Read, General Manager for the Middle East
region at PIC Solutions, comments,
“The significant growth of our client list is connected to the
dynamics affecting the Middle East market that has led to robust
growth opportunities for the credit industry. We are pleased
that we could assist The Benefit Company with the launch of
CrediScore, and also that we can be of service to the banking
industry in Bahrain in consulting them in how to optimise their
use of the score so they can gain the full benefits from it.”
Stephen J. Leonard, Managing Director of PIC
Solutions, said, “Our
commitment to the Middle East is visible not just through the
establishment of a second office in the Middle East which we did
last month in Bahrain; it is visible in the success of our
clients. PIC Solutions is entirely focused on the delivery of
solutions that translate into profit for clients and the best
way to do that is by optimising their use of the scores that
they will receive from The Benefit Company. We are, as always,
committed to strengthen our presence in the region based on
providing credit risk solutions that translate into measurable
benefits to our clients.”
