Riyad Bank Signs for Collections HealthCheck

24 July 2008

Riyad Bank, one of the largest and most respected financial institutions in Saudi Arabia, has selected PIC Solutions to conduct a Collections HealthCheck on a number of their consumer credit portfolios.

Riyad Bank provides a comprehensive range of consumer credit products, supporting the full banking needs of all their customers. For the sake of greater customer convenience, the Bank’s full service approach is delivered through a kingdom wide network of almost 200 branches and 1,900 multi-function ATM’s. Through the use of cutting edge remote banking technology, Riyad Bank brings banking into their customers’ homes, hotel rooms and offices.

PIC Solutions has conducted many different Collections HealthChecks for over 50 clients all over the world. These Collections HealthChecks are particularly popular in the Middle East region and cover all consumer credit products, as well as for Small and Medium Size Enterprises (SME). The key objective of the Riyad Bank Collections HealthCheck is to review the Bank’s existing collections policies, strategies and procedures and make recommendations for improvements. The key focus of the assignment is to identify and recommend changes that can be implemented in realistic timeframes and improve Riyad Bank’s collections strategies and therefore results in ensuring that they achieve international industry benchmarks.

During this assignment, experienced consultants from PIC Solutions will conduct the Collections HealthCheck on the Riyad Bank credit card, personal loans, car loans and home loans portfolios.

Riyad Al-Zahrani, Senior Vice President, Retail Banking at Riyad Bank, states, “We are committed to improving risk management best practices throughout our organisation. PIC Solutions experience and knowledge will assist us to identify new opportunities and risks involved with implementing new strategies.”

Ian Read, General Manager of the PIC Solutions MENASA region, based in Dubai, comments, “PIC Solutions provides a wide range of customer management solutions, which deliver measurable business benefits throughout the entire credit life cycle. Our personnel have worked with Riyad Bank for over 10 years on a large number of varied credit risk management assignments and we look forward to working with the Bank on this assignment. We are delighted that Riyad Bank has selected us to deliver another Collections HealthCheck of their diverse range of portfolios.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development