Standard Bank Adopts Fair Isaac's TRIAD System20 January 2005
Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, today announced that Standard Bank, South Africa's largest financial institution, is implementing Fair Isaac's TRIAD(TM) adaptive control system to improve risk assessment and profitability in its credit card division.
Standard Bank will replace its existing credit risk management software with TRIAD 7, which integrates predictive analytics, decision-making software, expert strategy consulting and the most advanced decision engine technology to help lenders automate and execute account management decisions across the enterprise. In addition to applying consumers' credit card behavioral data to drive improved credit risk decisions, TRIAD will enable Standard Bank to more efficiently manage credit lines and overdue accounts and customers, and will help minimize transactions needing further intervention.
"We chose Fair Isaac and PIC Solutions as our partners in this project because of their superior expertise in the South African financial services community, and the globally proven flexibility and predictive power of Fair Isaac's TRIAD technology," said Douglas Walker, Director of Card Credit at Standard Bank. "TRIAD enables a much more informed and focused approach to serving our credit card portfolio and customers, and helps ensure that our credit card strategies and policies provide us with a distinct advantage in a competitive banking environment."
TRIAD consultants from PIC Solutions, Fair Isaac's reseller in Africa and the Middle East region, will work with Standard Bank and Fair Isaac in the design, implementation and ongoing management of TRIAD in the bank's credit card division. The PIC team currently consults with 11 TRIAD clients in South Africa.
"Standard Bank's selection of TRIAD helps ensure that the bank will remain at the leading edge of credit card risk management technology in the Republic," said Andrew Jennings, vice president of Global Account Management Solutions at Fair Isaac. "TRIAD is specifically designed to make analytics simple to implement and easily leveraged in tactical decision strategies. As a result, TRIAD will deliver significant business benefits to Standard Bank."
The "champion/challenger" feature of Fair Isaac's TRIAD adaptive control system provides a managed learning environment that evaluates, compares and applies strategies that produce the best results on smaller segments of accounts. New winning strategies can then be applied to larger segments, thereby driving improved overall decision performance and portfolio profitability. The solution's reporting feature enables continual refinement of strategies by monitoring and measuring results.
As the world's leading portfolio management system, Fair Isaac's TRIAD software has helped improve an estimated 44 billion account and customer management decisions annually. Globally, 65 percent of the world's credit card volume is managed using a Fair Isaac adaptive control system. TRIAD addresses delinquency problems, helps manage internal resources and keeps customers satisfied with the lender's products.
Source: Business Wire
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