PIC Solutions has been selected by Absa Card, a division of Absa Bank, to re-develop application risk scorecards for the bank`s wide range of consumer credit card portfolios. The Absa Group is one of Africa`s largest financial services institutions and has a credit card portfolio that ranks in the top three in the CEMEA region.
In this turnkey analytical project, members of the PIC Solutions Predictive Modelling team will develop new scorecards and work closely with the Absa Card risk management team to ensure that the implementation and ongoing usage of the risk models will generate significantly improved results.
Obakeng Khutsoane, General Manager at Absa Bank, states: "We are pleased to include PIC as our partner in this redevelopment project. We chose to work with PIC Solutions as they have provided an all-round turnkey service, covering all aspects of a scorecard development project. Absa Card is committed to offering leading edge technology and effective risk management policies across all focus areas. We anticipate that re-development of these scorecards will maximise the usage of new information and enhance the quality of our credit application evaluation process."
Eva Neves, Senior Consultant at PIC Solutions, adds: "We are delighted that Absa Card has selected us to re-develop their application risk scorecards. PIC Solutions has set the benchmark for providing credit risk management and turnkey scorecard developments and we look forward to working with Absa Card on an ongoing basis, to ensure that these new scorecards provide significant business benefits."
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