Standard Bank intends to replace its existing credit risk management software with Triad 7, which integrates predictive analytics, decision-making software, strategy consulting and decision engine technology in an effort 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 aim to enable Standard Bank to efficiently manage credit lines and overdue accounts and customers, and help minimize transactions needing further intervention.
Douglas Walker, director of card credit at Standard Bank, was hopeful about the deployment: 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 also work with Standard Bank and Fair Isaac in the design, implementation and ongoing management of Triad in the bank’s credit card division.
The champion/challenger feature of Fair Isaac’s Triad adaptive control system is expected to provide a managed learning environment that evaluates, compares and applies strategies that produce the best results on smaller segments of accounts. It is hoped that new winning strategies can then be applied to larger segments, improving overall decision performance and portfolio profitability. The solution’s reporting feature enables continual refinement of strategies by monitoring and measuring results.
