Riyad Bank Selects PIC Solutions for Credit Scoring

PIC Solutions has been selected by Riyad Bank to develop and implement custom application scorecards for their consumer loans portfolio.

Riyad Bank, based in Riyadh, Saudi Arabia, is one of the largest banks in the Middle East and provides a full range of consumer credit products to its clientele. The Bank is at the forefront of credit risk management technology and has utilised sophisticated applications processing and account management software and scoring for a number of years.

In this turnkey analytical project, members of the PIC Solutions predictive modelling team will work closely with Riyad Bank`s risk management personnel to develop the custom application scorecards. Once the models have been finalised, both teams will work closely to ensure that the scorecard implementation occurs on time. PIC Solutions professionals will also assist with the ongoing usage and monitoring of the risk models to ensure that they produce significantly improved results.

Adnan Al-Joyan, Senior Vice President at Riyad Bank states, "Riyad Bank is committed to offering our clients leading edge technology and effective risk management policies. These new scorecards will ensure that we can continue to grow our consumer loans portfolio. We are delighted to be working with PIC`s predictive modelling and consulting teams on this project, as they have developed a firm understanding of the Middle East credit environment through all of their analytical and consulting assignments in the region."

Dave Lewis, Director of Consulting Solutions at PIC Solutions adds, "PIC Solutions is committed to providing credit and risk software and solutions to organisations in the Middle East. We are delighted that Riyad Bank has selected us to develop their custom application scorecards and we look forward to working with them to ensure that these scorecards provide significant business benefits."