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Experian Decision Analytics Wins CIT’s Application Processing and Decisioning Business
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Experian Decision Analytics, the global decision solutions business of Experian,
has announced that CIT BRAZIL, a part of CIT Group Inc (NYSE: CIT),
is to implement its Transact SM application processing and decision
support solution with its new business management environment. Managed
and hosted by Experian Decision Analytics, the web-based solution will manage CIT’s
application process, accessing both internal and external data sources,
such as credit bureaux, to enrich the new applicant data. Transact SM
will allow CIT to make faster and more appropriate lending decisions
to support its continued portfolio growth.
Founded in 1908, CIT has nearly $50 billion in assets under
management and possesses the financial resources, industry expertise
and product knowledge to serve the needs of its clients in over 30
industries. It holds leading positions in vendor financing, factoring,
commercial and corporate aircraft financing, rail car and locomotive
financing, construction financing, small business administration loans,
and asset-based and credit-secured lending. CIT clients range from
homeowners to small businesses to many of the world's largest and
most respected multinational corporations.
In selecting Experian Decision Analytics, Roberto Fernández, Vice President
and CIO of CIT Vendor Finance (Latin America), said: “Experian Decision Analytics
has been successfully supporting CIT’s UK and European operations
for some years. This certainly influenced our decision because,
with its proven track record, we knew that it could deliver. But
we also wanted to work with an organisation which understands the
local market conditions and challenges. Experian Decision Analytics has a
local office here in Sao Paulo where the solution will be hosted,
so we know that it will work closely with us at every stage of the project.”
The Transact SM solution, part of the Strategy Management
suite of products, combines data connectivity, application workflow
and sophisticated decisioning using the latest Strategy Management
Generation 3 technology. The solution provides the credit manager
with the ability to control the whole decisioning process from
the point of application through to new account set-up.
Transact SM supports multi-bureau connections, centralised
operational workflow with web-based distribution, the deployment
of credit scorecards, customer segmentation, credit decisioning,
terms settings and champion/challenger testing. Its sophisticated
rule base is rapid and robust, which makes it ideal for online,
mission critical environments where continuity and up-time are critical.
Murilo Pereira, Director at Experian Decision Analytics in Brazil, added:
“Transact SM is a very flexible application processing system and in
this instance will be executed as a hosted web-distributed solution.
This will minimise IT infrastructure changes for CIT and, whilst we
are running the applications processing system on a day-to-day basis,
the strategy definition environment will be controlled by CIT at its
site. CIT will be able to maintain all of its business rules,
scorecards and policies from a single Strategy Management PC front-end.
CIT is building up its operational capability here in Brazil and
we are very happy to be supporting that growth and continue to
expand our global relationship with the company”.
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About Experian Decision Analytics
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Experian Decision Analytics is a global leader in the supply
of decision support solutions. Its solutions
support billions of customer decisions annually
for clients in more than 60 countries. Experian Decision Analytics
solutions bring together predictive analytics,
decision support technologies and strategy optimisation
to enrich customer data and allow organisations to
proactively manage their relationships with their
customers.
Used across the full customer life cycle,
enterprise-wide decision support solutions enable
organisations to increase income, manage and control
credit risk and fraud, reduce operational costs
and so increase overall profitability. Experian Decision Analytics
works closely with clients across diverse industries,
including financial services, telecommunications,
retail, leasing, automotive insurance and utilities.
Experian Decision Analytics solutions and services focus
on extracting intelligence from all customer data
sources in order to build a comprehensive picture
of customer needs and financial stability. This
customer level view and the ability to deliver
customer level decisioning has proved to be particularly
important in retail banking, where a customer may
hold multiple products. For over 20 years, Experian Decision Analytics
has provided these solutions to the majority of the
world’s largest retail banks to help them manage
these complex relationships.
As part of the global Experian organisation,
Experian Decision Analytics has more than 30 years experience
of managing bureau data, adding intelligence to
that data and delivering scoring solutions. Experian Decision Analytics
maintains connectivity with over 70 credit bureaux
worldwide and, with 30 offices around the world, it
is uniquely qualified to support local, national, regional
and global businesses.
Its global headquarters are in Nottingham,
UK, Monaco, and Costa Mesa, CA, USA.In Brasil we are
in São Paulo.
For more information, visit
the company’s website
www.experian-scorex.com.br.
Experian Decision Analytics
is an Experian® company. Experian’s 12,000 people
support clients in more than 60 countries and
annual sales exceed £1.3 billion. For more information,
visit the company's website .
www.experian.com.
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This edition of newsletter was edited by the Direction of
Marketing and Communication of the Experian Decision Analytics Brazil.
For more information, please contact
Isabela Soares 55-11-3053-0008 or visit our website
http://www.experian-scorex.com.br/
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For more information on industry news, forthcoming events, contact details, the Latest Basel II news and details of all our solutions please visit the new Experian Decision Analytics website
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Experian Decision Analytics makes no representation or warranty
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Portions of this newsletter may only be
reprinted with permission.This newsletter is published by
Experian Decision Analytics
.Copyright (c) 2004 Experian Decision Analytics. All rights reserved.
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