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Absa Bank selects PIC Solutions support for SME banking


Cape Town, 09 Sep 2008

Absa Bank, one of Africa's largest financial services organisations, has signed a new and expanded RiskMentor contract with PIC Solutions.

Absa serves personal, commercial and corporate customers in South Africa. The group also provides products and services to selected markets in Angola, Mozambique, Namibia and Tanzania in Africa.

This RiskMentor contract provides Absa with a specified number of consulting support hours, over a 12-month period, that can be utilised as and when it is most required. The RiskMentor consulting contract ensures resources can be used from any area of PIC expertise, including credit risk management consulting and support, analytics, project management and software services. This ensures maximum productivity and flexibility in achieving business objectives, combined with optimising business profitability and fixed monthly budgeting.

Frederick Fouche, Head of Small Business at Absa Bank Limited: "We are working extensively with PIC Solutions to refine our credit risk polices and systems. This RiskMentor contract provides us with a flexible way of obtaining specialist consulting expertise, which can be used as and when it is needed."

Stephen J Leonard, Chief Executive Officer of PIC Solutions, adds: "This consulting relationship offers Absa flexibility in terms of timing and a wide range of deliverables. PIC resources will provide consulting support to Absa across the entire range of the credit life cycle to identify opportunities that will realise measurable business benefits for the bank. In particular, our consultants shall be focusing on assisting with the SME portfolio and ensuring best practice policies and strategies are in place during these trying economic times."

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PIC Solutions

PIC Solutions is the leading specialist credit risk solutions company in the EMEA region. With offices in Cape Town, Dubai, Johannesburg, Manama and Nairobi, we deliver integrated analytics, consulting and software solutions to over 150 companies in 30+ countries. We work worldwide with organisations to improve performance, drive strategies and enhance profitability. Analytics | Consulting | Software

Cape Town | Dubai | Johannesburg | Manama | Nairobi www.PICSolutions.com

Editorial contacts

Sarka Svoboda
PIC Solutions
(021) 680 6010
SSvoboda@PICSolutions.com