Absa Bank Selects PIC Solutions Support for SME Banking

9 September 2008

Absa Bank Limited, one of Africa's largest financial services organisations, has signed a new and expanded RiskMentor contract with PIC Solutions.

Absa serves personal, commercial and corporate customers in South Africa. The Group also provides products and services to selected markets in Angola, Mozambique, Namibia and Tanzania in Africa.

This RiskMentor contract provides Absa with a specified number of consulting support hours, over a twelve month period that can be utilised as and when it is most required. The RiskMentor consulting contract ensures that resources can be used from any area of PIC expertise, including credit risk management consulting and support, analytics, project management and software services. This ensures maximum productivity and flexibility in achieving business objectives, combined with optimising business profitability and fixed monthly budgeting.

Frederick Fouche, Head of Small Business at Absa Bank Limited, “We are working extensively with PIC Solutions to refine our credit risk polices and systems. This RiskMentor contract provides us with a flexible way of obtaining specialist consulting expertise, which can be used as and when it is needed.”

Stephen J. Leonard, Chief Executive Officer at PIC Solutions adds, “This consulting relationship offers Absa flexibility in terms of timing and a wide-range of deliverables. PIC resources will provide consulting support to Absa across the entire range of the credit life cycle to identify opportunities that will realise measurable business benefits for the Bank. In particular, our consultants shall be focusing on assisting with the SME portfolio and ensuring that best practice policies and strategies are in place during these trying economic times.”

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