Porsche Financial Services GmbH (PFS) has announced that it plans to strengthen its financial management with the implementation of the Connect+ solution from Experian-Scorex.
Connect+ will be used in the new business application process to enable PFS to obtain up-to-date customer information from local credit bureaux, combine it with details from the application and apply credit scoring and policies, all of which will allow PFS to make rapid and appropriate decisions about applications for car leasing and financing.
PFS will initially use Connect+ to support its business in Germany, Italy and the USA from its base in Bietigheim-Bissingen, with Experian-Scorex also delivering the credit scoring models that PFS will use within Connect+.
Porsche Financial Services GmbH (PFS), located in Bietigheim-Bissingen, is a fully owned subsidiary of the Porsche AG Stuttgart. It provides a range of financial services from motor finance and leasing to car insurance and credit cards. PFS operates worldwide.
Connect+ offers a fully integrated set of risk management and information services solutions specifically designed to connect to external data sources, such as credit bureaux, and provide powerful predictive scores to enable an organisation to determine the likelihood of a customer repaying their debt. Sophisticated logic within Connect+ enables only relevant data to be accessed from different sources and integrated to create one single view of the customer.
With links to over 70 credit bureaux worldwide, Experian-Scorex is able to offer the depth of data required by lending organisations to process each application in seconds. Connect+ adds intelligence to the data through models for risk, fraud or other purposes and decisioning for application processing and customer management.
Rainer Woidich, General Manager of Experian-Scorex, Germany commented: "For an international company like PFS, Connect+ is an ideal cross border solution. Connect+ will enable PFS to manage and control its lending decisions centrally but use local market data to ensure that its lending decisions are appropriate and profitable. Porsche is an internationally prestigious and respected name and we look forward to working closely with them to support their international business."