PIC Solutions Provides Risk Management Support to American Express
Released on = October 30, 2006, 9:45 pm
Press Release Author = PIC Solutions
Industry = Financial
Press Release Summary = Amex (Saudi Arabia) Limited, based in Riyadh, Saudi Arabia,
has signed an annual RiskMentor contract with PIC Solutions to cover specialist
credit risk services for the next twelve months.
Press Release Body = Dubai, 31 October 2006 - Amex (Saudi Arabia) Limited, based in
Riyadh, Saudi Arabia, has signed an annual RiskMentor contract with PIC Solutions to
cover specialist credit risk services for the next twelve months.
Amex (Saudi Arabia) Limited is a joint venture company, equally owned by Amex
(Middle East) EC and The Saudi Investment Bank. The company owns and operates the
American Express Card and Merchant business in the Kingdom of Saudi Arabia. Through
this RiskMentor consulting contract, Amex can utilise resources from any area of PIC
Solutions expertise, including credit risk management consulting, analytics and
software services for all their credit risk initiatives.
The RiskMentor service is a retainer-based relationship that ensures maximum
productivity, combined with the benefits of fixed monthly budgeting. This consulting
engagement is designed to provide Amex with access to a range of turnkey solutions
including risk management strategies, collections policies, new and existing account
profitability analysis and application scorecards validation. These services allow
Amex to capitalise on PIC Solutions expertise, enabling them to implement effective
policies and procedures focused on delivering measurable business benefits.
Priyan Attygalle, CEO of Amex (Saudi Arabia) Limited, states, “In our competitive
environment, we are continuously searching for innovative ways that will enhance our
credit business. Through this RiskMentor service, we can optimally utilise PIC
Solutions risk management personnel to achieve our strategic objectives. We look
forward to growing our relationship with PIC Solutions and working with them over
the upcoming year.”
Stephen Leonard, Managing Director of PIC Solutions, adds, “PIC Solutions has years
of experience of the Saudi Arabian market and so understands the dynamics that
impact the country’s consumer credit industry. Through this RiskMentor contract our
specialist resources will ensure ongoing credit and risk management consulting
support to Amex as and when they need it. We look forward to adding significant
value to all of their new business initiatives.”
About PIC Solutions
PIC Solutions provides consumer credit solutions to a wide range of blue-chip
organisations. We are experts in the fields of credit, risk and software and have an
established track record of success powered by solutions.
PIC Solutions is the Fair Isaac alliance partner for the Middle East Africa region
and from offices in Cape Town, Dubai and Johannesburg, provides all sales and
support for the entire suite of Fair Isaac products and services. This includes
consulting, project management, integration services, first line software support
and ongoing maintenance.
Our ongoing commitment is to enable clients to optimise the credit life cycle.
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