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Bank Muamalat adopts SAS analytics

AvantiKumar | June 5, 2013
A new credit scoring solution will also help customer engagement, says the Malaysian bank's CEO.

Andrew Tan, Managing Director of SAS Malaysia modified 

Photo - Andrew Tan, Managing Director, SAS Malaysia.


Bank Muamalat Malaysia has chosen business analytics firm SAS's credit scoring technology to help the bank's executives with more consistent, transparent credit evaluation tools, it said.

"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," said Bank Muamalat's chief risk officer, Mohd Asri Awang.

"As any prudent business leader would know, managing risk is a delicate yet all important aspect of business," said Bank Muamalat chief executive officer, Dato' Hj. Mohd Redza Shah Abdul Wahid. "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."

SAS Malaysia managing director Andrew Tan said the SAS Credit Scoring solution adopted the latest data analytics technology to allow lenders to rapidly develop, validate, deploy and monitor credit score cards in a low-risk and integrated business environment.

Tan said the solution allowed application and behavioural scoring for all lending products and will be used to assist the bank's executives across its business & consumer banking, credit assessment, regional approving centre and risk management departments.

Bank Muamalat is licensed under the Islamic Banking Act (IBA) and has a network of 58 branches (including six kiosks), in addition to its electronic channel, encompassing i-Muamalat, the Bank's Internet banking solution, and e-Muamalat, available at almost 240 locations, referring to its network of ATMs (automated teller machines), CDMs (cash deposit machines), and CDTs (cash deposit tellers).

Data - one of the most important commodities

"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," said Tan.

"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," he said.

Tan cited analyst firm IDC's expectations that the Asia Pacific region's big data technology sector would reach US$1.76 billion by 2016. "This in turn will serve as a significant catalyst to business returns throughout this region."

"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," he added.


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