Bayport Financial Services’ Strategic Outsource to PIC Solutions

Cape Town, 29 March 2010 – Bayport Financial Services (BFS) has selected PIC Solutions to provide credit risk advisory and business transformation services to its South African business.

BFS is a mass market unsecured credit provider and is rapidly expanding within South Africa. BFS has identified that they needed an experienced partner to work with, to ensure credit risk best practices are achieved. To that end, BFS have signed an agreement whereby PIC Solutions would provide advisory and transformation services to BFS that would cover the entire credit life cycle.

Martin Freeman, Chief Executive Officer, Bayport Financial Services, comments, “We utilise PIC solutions to re-engineer and improve strategic areas of our credit risk process for three reasons: firstly to formalise our credit risk architecture to world class standards, secondly, to drive our credit capabilities and software to the next level using PIC’s proven software and methodologies, and thirdly, to do so efficiently and effectively.”