The National Commercial Bank, based in Jeddah, Saudi Arabia, has selected Fair Isaac`s Global FICO score to enhance its decision-making process throughout the customer credit lifecycle.
Global FICO score, from Fair Isaac Corporation, is a highly predictive scoring model designed to evaluate consumer credit risk on any established form of credit bureau data. Using a unique and comprehensive range of predictive characteristics, the Global FICO score provides an objective, consistent assessment of consumer risk spanning multiple geographic regions.
Businesses can use Global FICO score to improve decisions throughout the customer credit lifecycle, from marketing initiatives through account approvals, to full portfolio management.
Adel Al-Howar, Head of Consumer Finance Services Group at The National Commercial Bank, states: "With the advent of Credit bureau data being readily available in Saudi Arabia, it was immediately apparent that we needed a robust credit bureau score to derive full value from that data. We are excited about using the Global FICO score to gain a more detailed view of our clients` credit profiles to make effective business decisions."
Dave Lewis, Director of Consulting at PIC Solutions, adds: "The FICO credit bureau risk score has become the industry standard for objective, profitable risk assessment. Through this scoring solution The National Commercial Bank will have a 360o view of their consumer credit profile which will result in an enhanced ability to assess risk. PIC Solutions and Fair Isaac are committed to expanding the availability of FICO Scores around the world, both to enhance credit decision support in individual markets and to develop a global standard that can be used as a consistent benchmark by international lenders."
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Fair Isaac Corporation (NYSE: FIC) is the pre-eminent provider of creative analytics that unlock value for people, businesses and industries. The company`s predictive modelling, decision analysis, intelligence management, decision management systems and consulting services power billions of mission-critical customer decisions a year.
Founded in 1956, Fair Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably.
Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organisations and government agencies. For more information, visit www.fairisaac.com.
PIC Solutions
PIC Solutions provides customer management solutions to a wide range of blue-chip organisations. We are experts in the fields of credit, risk and marketing and have an established track record of success powered by solutions.
PIC Solutions is the Fair Isaac alliance partner for the Africa, Middle East region and from offices in Cape Town and Johannesburg, provides all sales and support for the entire suite of Fair Isaac products and services. This includes consulting, project management, integration services, first line software support and ongoing maintenance.
Our ongoing commitment is to enable clients to optimise the credit lifecycle of their business.
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