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Riyad Bank of Saudi Arabia is breaking new ground in its effort to be the first Middle Eastern regional bank to implement risk- based decisioning and accommodate greater credit card demand and usage. That’s why Riyad Bank has turned to FICO and its alliance partner First Data Resources Ltd (FDRL) for a combination of solutions that smooth account acquisition, application processing and customer relationship management.
According to Credit Manager Andrew Goodrich, the benefits of risk-based decisioning and automated processing at Riyad are now just beginning to come to light. For its classic portfolio, the bank has seen a 27% increase in total accounts and an increase by almost 15% in current balances. Net income for this portfolio increased by about 35% and the increase in debit active accounts has been upward of 20%.
“Using TRIAD on the data lets us be far more refined than before when it comes to how we deal with our customers.”
—Andrew Goodrich, Credit Manager Riyad Bank
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