Capitec Bank in SA selects Experian for debt management and collections

Issued by Experian
Cape Town, 04 Mar 2010

Capitec Bank has selected Experian, the global information services company, to help it enhance its debt management and collections activities.

The retail bank will use Experian's Tallyman software to efficiently manage customers in arrears, improve profit and increase working capital by reducing debt write-offs and releasing cash locked up in outstanding debt.

Tallyman is a key component of Experian's Debt Collection and Recovery suite and the software automates the collections process across the complete life cycle - from managing high risk pre-delinquent customers through to debt recovery.

The software will identify Capitec Bank customers who have fallen behind on their payments and flag up those who might be facing financial difficulties, improving the likelihood of collecting debts that may otherwise be written off. Furthermore, the software also segments the customer portfolio into highly specific customer types to enable Capitec Bank to assign the appropriate collections resources to each case.

Chris Oosthuizen, IT Executive from Capitec Bank, said: “Capitec strives to invest in world-class technology to manage every aspect of the business with high levels of efficiency, and it is clear that Experian's Tallyman software stands out as the very best in its field. For us, a key element of effective debt management is understanding each customer's financial situation to be able to set the right strategies for each group, rather than applying generic strategies. Thanks to Tallyman, we will be able to do just that and to minimise collections costs and bad debt write-off, while delivering the best possible customer service.”

David Challies, Head of Experian Decision Analytics in South Africa, said: “Tallyman will allow Capitec Bank to manage customers in arrears efficiently and effectively. The software's flexibility means that Capitec can rehabilitate customers back to active trading, identify and manage those showing signs of financial distress, but also take the appropriate actions for those customers where the recovery of debt is a priority.”

Experian

Experian is the leading global information services company, providing data and analytical tools to clients in more than 65 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision-making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2009 was $3.9 billion. Experian employs approximately 15 000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and S~ao Paulo, Brazil.

For more information, visit http://www.experianplc.com.

Experian's Decision Analytics division

Decision Analytics is the international division of Experian specialising in providing credit risk and fraud management consulting services and products. For more than 30 years, it has developed its best practice analytical, consulting and product capabilities to support organisations to manage and optimise risk; prevent, detect and reduce fraud; meet regulatory obligations; and gain operational efficiencies throughout the customer relationship. With clients in more than 60 countries and offices in more than 30, the Decision Analytics division of Experian delivers experience and expertise developed from working with national and international organisations around the world across a wide range of industries and business size.

For more information, visit the company's Web site on http://www.experian-da.com.

Capitec Bank

Capitec Bank Holdings was established on 1 March 2001 and listed on the JSE Limited on 18 February 2002. Capitec Bank is a retail bank, which focuses on providing simplified and affordable banking services to clients via the innovative use of technology, in a manner that is convenient and personalised.

The all-in-one Global One Banking Facility is the most affordable solution to day-to-day money management for individual clients. It also offers the most attractive and flexible savings package of its kind in the market with the highest interest return for the everyday saver. Furthermore, this facility provides access to a very price competitive range of credit products with the added advantage of immediate availability of funds. Transacting value is unbeatable, as purchases with the Global One Gold Card incur no fees and cash withdrawals at selected retailers can be done for only R1 per transaction. Access to the easiest online banking completes this substantial value package! Despite competition in the market, the Global One offer enjoys phenomenal success, with client numbers now in excess of 2 million.

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