Standard Bank of South Africa has announced that it is to implement Strategy Management Generation 3 from Experian-Scorex, the decision solutions business of global information solutions company Experian, within its new, bank-wide enterprise decision management environment.
The Strategy Management solutions will enable the bank to make sophisticated customer-level decisions at every point of the customer relationship.
Standard Bank was one of the first users of Experian's credit bureau in South Africa and an early adopter of credit scoring and customer-level decisioning.
To ensure that it delivers consistency and satisfaction to customers, it has created an integrated, customer level systems architecture that allows the creation of intelligence from the data warehouses to drive acquisition and event driven behavioural decisioning and Basel II compliance. Strategy Management Generation 3 will allow the bank to maximise the power of this data and further enhance decisioning for its customer base, enabling both reactive and proactive customer management.
Paul Middleton, Director, Decision Support and Scoring, Standard Bank, commented: "Our enterprise decision management solution is a major strategic project for the bank to further enhance and align our business decisions. Strategy Management is a key enabler in this solution, with the platform independent decision engine giving us the flexibility to deploy sophisticated decisioning in any part of our organisation; we are currently using it in ten different business areas and across all our portfolios. The agility and flexibility this provides, coupled with the advanced simulation and experimentation capabilities within the desktop tool, allow us to continually improve our business model."
Mike Reilly, Country Manager for Experian-Scorex in South Africa, added: "Our partnership with Standard Bank goes back many years and we support them across their business, with data, analytics, reporting and decision support solutions. Standard Bank has always been innovative, as illustrated in its rapid adoption of this latest decision support technology. The implementation of this enterprise-wide decisioning solution has been a large project for the organisation and we are pleased to provide a key element of this new solution that will bring significant benefits to the business."