Bank Muamalat Malaysia Berhad Works with SAS to Implement All-New Credit Scoring Solution

SAS’ Credit Scoring for Banking to provide Bank Muamalat with superior data collection and management capabilities to enhance customer engagement and facilitation

KUALA LUMPUR, May 27, 2013 – Bank Muamalat, one of Malaysia’s leading Islamic Financial providers, and SAS Malaysia, the leader in business analytics software and services, today announced the integration of SAS’ Credit Scoring technology into Bank Muamalat’s operations in Malaysia, a strategic initiative which will allow bank executives to employ more consistent, transparent and objective credit evaluation tools.

“As any prudent business leader would know, managing risk is a delicate yet all important aspect of business. The Credit Scoring solution provided by SAS will allow us to assign scores to credit applications as well as existing accounts using the very latest technology available while simultaneously ensuring that we are able to benchmark with internationally recognised standards at all times,” said Dato’ Hj. Mohd Redza Shah Abdul Wahid, Chief Executive Officer of Bank Muamalat Malaysia Berhad.

Andrew Tan, Managing Director of SAS Malaysia.

The SAS Credit Scoring solution utilises the very latest in data analytics technology to enable lenders to rapidly develop, validate, deploy and monitor credit scorecards in a low-risk and integrated business environment in a faster, cost effective and far more flexible method than previously possible. The solution enables application and behavioural scoring for virtually all lending products and will be utilised to assist Bank Muamalat executives across its Business Banking, Consumer Banking, Credit Assessment, Regional Approving Centre and Risk Management departments.

En. Mohd. Asri Awang, Chief Risk Officer, added that “By equipping our executives with these modern analytics capabilities we aim to provide enhanced customer engagement experiences not only to existing customers but will also allow us to embark on developing more proactive and personalised solutions to new customers so as to meet with their unique credit needs and requirements.”

The big data technology and services industry continues to grow in prominence throughout the Asia Pacific as more and more businesses continue to appreciate the role and value of insights from data in making successful business decisions. Projections by the research firm IDC places the projected value of the industry throughout APAC to be in the region of a staggering USD 1.76 billion by 2016, which in turn would serve as a significant catalyst to business returns throughout the region.

“With consumers becoming increasingly discerning with purchase decisions, it is vital for businesses to maintain a clear appreciation of market interests and trends, and to be able to do so at all times. Data has thus become one of the most important commodities of our times, with the business that is able to transform insights from data into executable solutions, services or products to customers most effectively and efficiently likely to gain a significant competitive edge over competitors,” said Mr. Andrew Tan, Managing Director of SAS Malaysia.

As the world’s leader in business analytics software and services, SAS solutions provide business executives with effective and actionable information by sifting through the Variability and Complexity of big data to make real-time decision making processes a reality.

“Unlike previous solutions and practices where business teams would need to work through IT departments to gain insights from technology, our analytics solutions are designed so that relevant information is put directly into the hands of relevant decision makers which ensures that businesses are able to truly capitalise on their data assets,” said Tan.