TransUnion develops SME scorecard for industry leading bank
The SME customised scorecard developed for the bank utilises general information on a company, the company's payment history as well as general, enquiry and public derogatory information on its principles. The scorecard was developed on a population of more than 600,000 scoreable companies.
The SME scorecard significantly outperformed all other available models in the market and the customisation for the bank was completed in a record time. TransUnion will continue to work on future enhancements to the model, which will include the use of additional detailed Credit Providers Association data
Dr. Mohammed Razzak, Executive Director: Analytics, from TransUnion Analytic and Decision Services (ADS) in South Africa adds: "It is vitally important for lending institutions that service small to medium enterprises to have analytic insights as to the credit health and vitality of the businesses they serve. Our valued partnership with this major role player has lead to a robust and prognostic solution that will help it mitigate risk in the commercial environment.
As a global leader in credit and information management, TransUnion creates advantages for millions of people and businesses around the world by gathering, analysing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Based in Johannesburg and Pretoria, with global headquarters located in Chicago in the US, TransUnion is Africa's oldest and leading provider of data-based business intelligence solutions. Visit www.transunion.co.za or www.mycredit.co.za for more information.