HSBC to Use Experian-Scorex to Improve Its Credit Decisions Globally

HSBC will use the Strategy Management(SM) business rules engine from Experian-Scorex, the global decision analytics business of Experian®, to support lending decisions around the world.

Strategy Management was chosen after an extensive vendor evaluation. The bank will implement the software within its global credit application processing environment to help it make more accurate and timely decisions.

Strategy Management is a software solution that provides the business user with the ability to consistently deploy scoring models, portfolio segmentation, decisions and actions to control and manage customer relationships and improve risk management decisions.

George Lennox, Senior Manager, Group Credit and Risk at HSBC, said: “As one of the world’s leading financial organizations, it is important to us that we make use of leading edge decision support technology.

“We undertook a rigorous evaluation of the business rules engine market and identified Strategy Management as the solution that met our criteria. In internal trials we were able to satisfy ourselves that the solution would deliver more capability but with a significant reduction in processing effort compared to its rivals. We also know that Strategy Management is robust and runs in mission critical environments for organisations all over the world. Strategy Management’s speed, flexibility, platform independence and multi-user capability will ensure that we deliver consistent decisions across our enterprise.

“Like us, Experian-Scorex operates globally but has a local focus in the markets in which it operates. This global reach combined with its experience and technology made Experian-Scorex a logical choice for HSBC. Strategy Management will undoubtedly become an integral part of our business and we expect that it will make more than 50 billion customer decisions annually for us as we roll it out across our global business.”

Initially, HSBC will implement the Strategy Management business rules engine into its new business processing environment for 22 countries, replacing the existing decisioning technology, before extending it across its global operations. The solution will enable the bank to implement sophisticated decisioning techniques to define a strategy for each individual customer as they apply for new accounts. This strategic approach allows HSBC to identify the value of each customer and create tailored product packages, while meeting the needs of the business.

Roger Aubrook, president of Experian-Scorex’ global operations, said: “HSBC is a global market leader and one of Experian’s largest worldwide clients. We are extremely pleased to be a trusted partner and to further extend our relationship. Strategy Management is already used by more than 600 major financial organizations worldwide, and is a tried and tested solution that will provide HSBC with the flexibility to manage its business more effectively in its competitive markets. We nearly match HSBC with our global span, with clients in more than 60 countries and more than 30 Experian-Scorex offices worldwide, so we are well placed to assist HSBC with its challenges now and in the future.”