Kuwait-headquartered Boubyan Bank will use analytics and
decision management technology vendor FICO’s Debt Manager solution
with the aim of managing collections for its credit portfolios in
the region.
According to Boubyan Bank, the FICO solution
will allow the lender to prioritise overdue accounts and select the
most appropriate treatments for each, across the bank’s credit card
and personal loan portfolios.
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Abdulla Al Najran Al Tuwaijri, Boubyan Bank’s
general manager for consumer banking, said:
“We have the fastest growth rate of any Kuwait
bank, and as we continue to expand this will put additional
pressure on our collections team.”
Deploying FICO Debt Manager will enable to the
bank to deal with greater volumes of overdue accounts “while
minimising the need for additional staff” said Tuwaijri, adding,
“This solution can scale with our business, and ensure we preserve
customer relations even while seeking payment for overdue
debt”.
Robin Findlay, who oversees FICO’s operations
in the Middle East and Africa, said:
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By GlobalData“The bank clearly sees the link between
collections, bank profitability and customer service, and FICO Debt
Manager will enable them to pursue all three goals.”
The FICO Debt Manager solution will be used in
accordance with Islamic Shari’ah principles, according to Boubyan
Bank.
