Absa Bank goes live with TRIAD Credit Facilities

Absa Bank Limited, one of Africa`s largest banking groups, is now live with the Credit Facilities module of the TRIAD customer management system.

TRIAD, from Fair, Isaac, has become the de facto global standard for consumer credit grantors and PIC Solutions was selected by Absa to assist with the implementation of this watershed project, which is a first for the South African banking industry.

Ten South African consumer credit grantors now utilise the TRIAD system, which provides sophisticated risk management functionality, including modules for behaviour scoring and Champion-Challenger strategy testing. Where the Absa implementation is unique is that portfolio management will be at a customer level rather than an account level. This means that Absa will now be empowered to make strategic decisions on marketing, credit facilities and collections on a one-to-one customer basis.

Dr Tjaart van der Walt, General Manager at Absa Bank, states: "We have enjoyed a close working relationship with PIC Solutions for a number of years and their specialists have worked closely with our credit risk teams to design, test and implement account management strategies in the Cards Division and Bankfin TRIAD systems that we have. This relationship has now been expanded to include their participation in this customer management TRIAD project, which we are proud to say is the first in Africa. We look forward to working with PIC Solutions in the future to ensure that the results from this major project go from strength to strength."

Dave Lewis, Director of Consulting Solutions, adds: "We are proud to be part of such a significant first for the African continent. We look forward to working closely with Absa to ensure that the bank remains at the forefront of world-class technology and strategies."