PIC Solutions completes score mentorship project with Credit Indemnity

Credit Indemnity, a specialist financial services provider and subsidiary of African Bank, has completed the development of custom application scorecards to predict the risk of credit applicants.

These application scorecards were developed through a ScoreMentor contract with PIC Solutions. This retainer contract involved the project management and support of the Credit Indemnity risk management team`s development and implementation of the scoring models, along with a significant knowledge transfer process.

The ScoreMentor Service enabled Credit Indemnity to `reserve` a specified number of analytical consulting support hours, over a 12-month period. Credit Indemnity could then make use of the support as and when it was most required. This allowed for the optimum allocation of specialised resources for the scorecard development projects, combined with fixed monthly budgeting and on-time project delivery.

Lawrence Twigg, Credit Executive at Credit Indemnity, states: "We signed a ScoreMentor contract with PIC Solutions to develop our application scorecards as we wanted to ensure that we would implement analytically sound models, while also undergoing a skills-transfer process for our internal risk department. This analytical project has been a great success and in addition to world-class scorecards, we now have a cross-trained internal risk team."

Bayan Dekker, Director of the PIC Solutions Scoring & Modelling team, adds: "This ScoreMentor contract provided Credit Indemnity with the flexibility to use our scorecard development personnel, when and where they were most required. All through the project our team ensured that a full knowledge-transfer process occurred and this scorecard development will ensure that Credit Indemnity will continue to remain at the forefront of African financial services."