October 2009 Issue
Editorial
Top Story
The Expert's Column
Client focus
- E.ON - Identifying optimal contact strategies
- Forex Capital Markets - Combating global fraud and money laundering
- HSBC - Enhancing customer service with consistent decision making capabilities
- Isbank - Identifying optimal customers with accurate risk profiles
- Shinsei Financial - Optimising credit lending strategies
Debate
- Using data to enhance SME credit decisioning
- Signs of recovery? Risk and collections managers' work is yet to come!
- How to motivate your collections team with incentives that work
- How optimisation can improve collections performance
News & Features
- SimRisk - The international credit risk management competition
- Events & collaboration - Credit Risk Management Master, Università La Cattolica in Milan
- Experian and I-SEC partner to offer advanced document checking service
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Experian launches the SimRisk Challenge - The international credit risk management competition
As previously mentioned in a preview in the last issue of e-news, Experian has launched the SimRisk Challenge, an international credit risk management competition.
More than 20 teams representing 13 different nations are taking part in this year's inaugural SimRisk Challenge. The teams, made up of credit risk professionals, will battle it out for a chance to be crowned the most profitable decision makers on a fictitious Retail Bank portfolio.
The global coverage of the competition has attracted teams from countries including Bulgaria, Canada, China, Czech Republic, Germany, Hong Kong, Italy, Singapore, Spain, Switzerland, Taiwan, UK and USA.
The purpose of the competition is to help Credit Risk professionals to gain confidence in credit risk strategies and give them the courage to execute them. The competition will also highlight the advantages of effective customer management in the current economic environment.
The SimRisk Challenge allows risk management professionals to compete with industry peers and demonstrate their excellence in the management of customer portfolios. SimRisk is a virtual game that simulates a real business environment in which the different teams will receive a number of portfolio reports that show details and performance of a realistic Retail Credit portfolio over the last 36 months to analyse and create strategies to increase its profitability.
Teams can change any part of the strategy for current accounts, personal loans and/or credit cards including: limit management, collections, renewals, pricing, fees and cross-selling. The team that generates the best results across all portfolios will be the winner and will be invited to Experian International Forum dedicated to Credit Risk & Fraud Managers in Prague on the 19th and 20th of November to receive their award.
This competition is underpinned by Experian's Strategy Management software, which will be used to develop and manage the strategies for the teams. The system enables business users to control and manage customer relationships and improve risk management decisions across all areas of the customer lifecycle from customer acquisition through to customer collections and debt management.
With Strategy Management's integrated simulation capabilities, each team will be able to evaluate the effectiveness of strategies in achieving objectives before implementation. In this way, they can have a real insight into the effect of decisions and changes that can be made, in order to adapt strategies to the changing market environments and compete with the other teams.
Strategy Management, first developed over 20 years ago, is at the heart of the Decision Analytics solutions delivered worldwide and is used by leading organisations across a number of markets.
For further information on the SimRisk Challenge competition and Strategy Management click here
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