PIC Solutions Launches Application Scorecard Development Service

PIC Solutions, the leading specialist credit risk management consultancy in the Africa and Middle East region, has launched a new scorecard development service.

The National Credit Act is changing the face of the South African credit industry and organisations that are using traditional models and tools for credit granting are realising the limitations of their scoring solutions. The Application Scorecard Development Service offers a robust scorecard solution designed to keep organisation’s applications processes apace with new regulations and changing market conditions.

The Application Scorecard Development Service provides organisations with the opportunity to develop three application scorecards over a period of three years. By regularly updating their scorecards organisations substantially improve their risk management ability. Organisations will benefit from the extensive knowledge and experience of PIC Solutions’ predictive modelling team by implementing a scoring solution that will be:

• Consistently refurbished and re-developed
• Quickly modified to comply with changes in government regulations
• Maintained as up-to-date to ensure the highest predictive control available is used within the decision making process, enabling the most accurate reporting to be performed

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Eva Neves, Department Head of Modelling at PIC Solutions, comments, “Credit organisations are realising the importance of using automated predictive modelling solutions to comply with the requirements of the National Credit Act. The Application Scorecard Development Service provides organisations with the opportunity to benefit from our scoring expertise to develop new models with extensive predictive powers. In addition, these models will be re-developed each year to meet changing market conditions and improve competition.”

Stephen Leonard, Managing Director of PIC Solutions, adds, “PIC Solutions is committed to providing unique solutions to meet the ever-changing needs of our clients. We understand the importance of implementing scorecards that not only comply with new regulations but also meet business objectives. This Application Scorecard Development Service enhances the credit decisioning process and ensures that credit grantors are using the most predictive solution to improve credit risk policies and strategies.”