African Bank has partnered with a data analytics company FICO, to modernise its decision system and adopt a standards-based decision implementation practice.
According to FICO, Africa Bank deployed FICO's decision management software as the central decision-making hub of the bank.
The technology from FICO aims to bring more efficiency, governance and collaboration to the way the bank makes decisions, says the data analytics company.
After an extensive review of bank operations, it became clear that the existing decision-making processes created inefficiencies and missed opportunities for reacting to the market, says African Bank.
The bank's transformation included an extensive review of bank operations, which showed that the existing decision-making processes created inefficiencies and missed opportunities for reacting to the market, it adds.
"We had the entire bank look at all existing logic going into our decision-making process, which was fragmented over different applications and teams," said Dawid van Zyl, programme executive: credit decisioning for African Bank.
African Bank is now using Blaze Advisor for decision services in four major modules, with 11 bespoke environments within those modules, says the bank. It is now able to manage all of this with a single interface and now has full lifecycle control over the entire system, adds African Bank.
"Once we started solving difficult scenarios with Blaze Advisor in originations, our management team realised we could expand it throughout the enterprise," said Van Zyl. "The vision is to expand across the entire lifecycle and across many products.
As part of this project, FICO introduced a standards-based decision implementation practice, decision implementation accelerator to the bank, and worked closely with African Bank to understand how to approach each decision scenario.
"Centralised decision control is the goal of every bank," said Derick Cluley, senior director of client sales, who leads FICO's operations in Africa. "It is a difficult challenge, but essential if you're going to execute true customer-level management. African Bank's far-reaching vision has put them in the best-in-class category for decision management."
Share