An Binh Commercial Joint Stock Bank (ABBANK), which is focused on retail banking in Vietnam has partnered with Singapore-based technology consulting and services firm Thakral One to implement an automated credit scoring engine to streamline the risk calculation process for their customers.
Using advanced analytics, the enhanced approach eliminates manual processing and enables faster credit decisions that improve customer experience. It will also contribute to a better revenue and compliance position by reducing risky debts and by being consistently aligned with credit scoring regulations.
“ABBANK’s Board of Directors has identified this as is one of the key projects of the bank, aiming to build a system that can support credit decision making quickly and effectively, thereby minimising qualitative risks, bringing significant and long-term business performance,” said Nguyen Manh Quan, acting general director of ABBANK.
“The cooperation with experienced partners such as Thakral One, will help ABBANK not only to efficiently implement and operate SAS solutions, but also learn more practical implementation approaches at home and abroad,” said Nguyen.
Bikram Singh Thakral, CEO of Thakral One, said investing in decision management and analytics capabilities will enable ABBANK to significantly improve their time to market, enhance capability to scale, and better manage risks.
Built using the SAS Intelligent Decisioning Solution, the system gathers data elements that cover the entire credit management process. The decision orchestration engine combines statistically reliable information with data analytics features and extensive model inventory.
ABBANK will be able to assess the creditworthiness of loan applicants using policies that evaluate existing bank records and external sources that provide customer and financial information.
All this information is ingested by analytical models that help determine credit and fraud risks. A credit score is then identified to arrive at a decision.
“We understand the importance of making accurate and timely decisions within ABBANK and therefore, the technology from SAS incorporates the use of artificial intelligence and machine learning models to support this,” said Cheam Tat Inn, SAS managing director in Malaysia.
With SAS Intelligent Decisioning – combining comprehensive capabilities in statistics, decision orchestration, governance, business rule management, and advanced analytics – SAS, Thakral One, and Intel are transforming how established financial institutions address risk management challenges by embracing digital and cutting-edge solutions.