PIC Solutions has been awarded a research assignment to examine the feasibility of establishing a consumer credit bureau in Egypt.
PIC consultants will conduct this feasibility study, researching the structure, benefits, data requirements, legal issues and technical infrastructure required for the development of a credit bureau in Africa`s second most populous country.
This initiative is being progressed by Visa International CEMEA and follows on from a number of successful Visa credit risk best practices initiatives that have been completed by PIC Solutions.
Stuart Clayton, Head of Credit and Co-branding Products, states: "The greatest barrier to Visa credit card issuance in the CEMEA region is, understandably, the banks` fear of risk. Banks in CEMEA would become more confident if they had an accurate source of financial data that allowed them to assess credit risk and make realistic decisions about the creditworthiness of customers. Credit bureaux help achieve this."
Stephen Leonard, Managing Director of PIC Solutions, adds: "We are delighted to have been selected to conduct this credit bureau feasibility study, which is a continuation of our successful relationship with Visa International. One of the reasons why PIC Solutions was selected for this assignment is that we have a successful track record of working with credit bureaux in the CEMEA region. In fact, SA has one of the most established credit bureaux infrastructures in the world and so provides an excellent model for other countries in the CEMEA region to follow."
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PIC Solutions is a specialist consultancy, providing Project management, Integration services and Consulting solutions to a wide range of blue-chip clients. With over 300 years combined experience in the Europe, Middle East, Africa region, PIC Solutions is the largest customer management solutions company based in the Southern Hemisphere.
Our ongoing commitment is to enable clients to transform risk into revenue.
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