PIC Solutions Develops
Scoring Solutions for Absa Bank
Cape Town,
9 October 2008 – Absa Group Limited (Absa), one of South
Africa’s largest financial institutions, has selected PIC
Solutions to develop and implement expert application scorecards
for its retail customers in Mozambique, through its subsidiary
Barclays Bank Mozambique
Absa, a member of Barclays Bank Plc, serves personal, commercial
and corporate customers in South Africa and
also provides products and services to selected markets in
Angola, Mozambique and Tanzania.
During this assignment, the PIC Solutions predictive modelling
team will develop the expert application scorecards, using best
practice expertise, to ensure that
the new scorecards
optimise Absa’s
applications decisions. The PIC Solutions consulting team will
work closely with the Absa new accounts personnel to implement
the scorecard. In addition, as part of the scorecard
implementation service, they will provide training and ensure
that the scorecards are utilised according to best practices and
Absa’s return on investment is maximised.
Willem Steyn, Functional Head Risk Management at Absa, states,
“We chose to work with PIC Solutions as they offer innovative
credit scoring solutions that adapt to the changing dynamics of
the global credit-granting arena. We plan to use the new
application scorecards to enhance our credit processes, minimise
business risk and generate extensive business benefits.”
Stephen J. Leonard, Chief Executive Officer at PIC Solutions,
comments,
“PIC Solutions is committed to providing unique solutions to
meet the ever-changing needs of our clients. We understand the
importance of implementing scorecards that not only comply with
new regulations but also meet business objectives. Our extensive
understanding of risk modelling techniques and best practices
will ensure that the application scorecards provide Absa with
the capability to accurately assess credit applicants. Absa will
then be able to effectively streamline their decisions and
identify potential risk. No other company has the track record
or range of experience of developing scorecards in the Africa
and Middle East region.”
