• Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Special Offers
Business Intelligence Info
  • Business Intelligence
    • BI News and Info
    • Big Data
    • Mobile and Cloud
    • Self-Service BI
  • CRM
    • CRM News and Info
    • InfusionSoft
    • Microsoft Dynamics CRM
    • NetSuite
    • OnContact
    • Salesforce
    • Workbooks
  • Data Mining
    • Pentaho
    • Sisense
    • Tableau
    • TIBCO Spotfire
  • Data Warehousing
    • DWH News and Info
    • IBM DB2
    • Microsoft SQL Server
    • Oracle
    • Teradata
  • Predictive Analytics
    • FICO
    • KNIME
    • Mathematica
    • Matlab
    • Minitab
    • RapidMiner
    • Revolution
    • SAP
    • SAS/SPSS
  • Humor

“We Can Change Our Strategies in 2 Days” – African Bank

June 18, 2017   FICO
African Bank “We Can Change Our Strategies in 2 Days” – African Bank

African Bank, a large retail bank in South Africa, recently went through a large-scale restructuring in order to bring more efficiency, transparency and collaboration to the way it made decisions. Working with FICO, the bank applied a standards-based decision management methodology to fully modernize its decision system. Now that the new solution has been implemented, we spoke with Dawid Van Zyl, Program Executive of Credit Decisioning at African Bank, to learn more.

Q: What challenges was African Bank facing with its existing credit decision process?

Dawid: Our credit decision lifecycle was fragmented over different applications and teams. This was causing inefficiencies and missed opportunities for our executives to react to the market. We knew we needed to do a complete overhaul of the existing process in order to be effective and profitable.

Q: How did you and the FICO team create a solution for this challenge?

Dawid: The first step was an extensive internal review of bank operations. We had the entire bank look at all existing logic going into our decision-making process, which was fragmented over different applications and teams. We challenged and rationalized existing frameworks until we came up with an optimal plan.

Q: How did technology help transform your decision management process?

Dawid: We were already using FICO Blaze Advisor for rules management. Through our review, we found that Blaze Advisor could make strategy changes within two days, but the ecosystem around it took as long as two months. We looked at what was happening and created a proposal to completely overhaul the way we make decisions. We decided to extend Blaze Advisor capabilities at African Bank and use it as our hub for all decision making.

Q: How did FICO help you create a solution?

Dawid: FICO introduced a new standards-based decision-making methodology to us called Decision Implementation Accelerator. We refer to it as DIA3. The FICO consultants worked with us to help us understand how to approach certain decision scenarios, as well as get strategies configured and defined in Blaze Advisor. The methodology was integral to the success of this project. As we became more familiar with the approach, each iteration improved and this was key to the reduced total time taken.

Q: You mention a reduction in time to implementation. What specific benefits have you realized?

Dawid: After this overhaul, we now have a very complex but elegant solution in place that enables collaboration and complete transparency. We’ve been able to develop and implement new strategies 30% faster than expected, and we have reduced costs by 25%. Now we have a decision system that can make changes in two days, not two months. That makes a big difference to our efficiency and profitability.

We’d like to thank Dawid for taking the time to speak with us. If you’d like to learn more about how African Bank is using FICO solutions to manage credit decisions, read the case study.

Let’s block ads! (Why?)

FICO

African, Bank, Change, Days, Strategies, we...
  • Recent Posts

    • NOW, THIS IS WHAT I CALL AVANTE-GARDE!
    • Why the open banking movement is gaining momentum (VB Live)
    • OUR MAGNIFICENT UNIVERSE
    • What to Avoid When Creating an Intranet
    • Is Your Business Ready for the New Generation of Analytics?
  • Categories

  • Archives

    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    • July 2017
    • June 2017
    • May 2017
    • April 2017
    • March 2017
    • February 2017
    • January 2017
    • December 2016
    • November 2016
    • October 2016
    • September 2016
    • August 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • February 2016
    • January 2016
    • December 2015
    • November 2015
    • October 2015
    • September 2015
    • August 2015
    • July 2015
    • June 2015
    • May 2015
    • April 2015
    • March 2015
    • February 2015
    • January 2015
    • December 2014
    • November 2014
© 2021 Business Intelligence Info
Power BI Training | G Com Solutions Limited