FICO, the leading provider of analytics and decision management technology, today announced that South African credit grantors are increasingly adopting decision modelling and optimization analytics to improve their credit strategies. In the past few months, FICO has signed three new clients – all leading retailers and banks – to its list of South African clients using the most advanced analytics to develop strategies that outperform the market.

Mendix, the agile application platform company, has appointed PIC Solutions as their new channel partner and reseller in South Africa. PIC Solutions will utilise the Mendix platform to strengthen their offering to the consumer credit market.

South African banking leader will use FICO analytic tool to standardize creation of predictive analytics for managing risk and Basel compliance

The Board of Directors of PIC Solutions announced that Ian Read has joins the Board as Director effective 16 February, 2010. Ian Read joined PIC Solutions in December 2006 as "Executive Vice President - General Manager" charged with the responsibility of developing the Middle East Africa region. Read has an exceptional background in the credit risk and management industry spanning over 25 years. For the initial decade of his career, Read gained experience in both retail and commercial lending practices...

PIC Solutions will provide Edcon with a complete range of risk management services under the renewal of a three-year outsource contract. These services, tailored to optimise the risk management of Edcon’s credit portfolio, include new business management, existing portfolio management, model usage, tracking and analysis, forecasting and reporting, and ICT technology application and updates. As Africa’s largest fashion retail group, Edcon’s focus on growing their business through measured lending expansion...

THE National Union of Metalworkers of SA (Numsa) yesterday called on the government and Human Settlements Minister Tokyo Sexwale to protect low-income earners from the "brutal" repossession of their houses by banks. Since the recession, thousands of houses had been repossessed, displacing millions of workers into destitution and homelessness, Numsa said in a statement issued on the eve of the anniversary of the death 15 years ago of democratic SA's first housing minister, Joe Slovo. Numsa said it was appealing...

THE PERCENTAGE of consumers in good credit standing had continued to decrease, the National Credit Regulator (NCR) said yesterday. This followed its monitoring of registered credit bureaus and the quality of their data. As at the end of June, credit bureaus had records for 17.79 million credit-active consumers, the NCR said. According to these records the percentage of consumers in good standing stood at 55.9 percent, a decrease of 1.7 percentage points when compared with the quarter to March and 4.5...

THE FESTIVE season is known as an opportunity for spending some quality time with the family - but it is also known for taking more cash out of your pocket than an ex-spouse after a messy divorce. In these tough economic times, businesses especially feel the brunt as consumers are more cautious about spending. So how do you, as a business, change your approach to sales? “The key is in knowing how to market your product for a more specific clientele,” said PlC Solutions director Simon Trupp. PIC solutions...