19 October 2014 - United Arab Bank (UAB), acclaimed the fastest growing bank in the Middle East by Banker Middle East, has chosen Experian, the global information services company, as its analytics partner to support the bank’s innovative retail customer growth strategy with new automated credit application processing and customer management decision systems.
UAB has signed a three year contract with Experian to provide a wide range of analytics services to support the bank’s new major customer acquisition programme including delivery of application scorecards and bespoke customer behavioural scorecards for personal loans, credit cards and SME lending.
Experian’s expertise and proven record in decision analytics will support UAB’s customer acquisition growth programme with new and efficient automated decisioning systems. Experian will help deliver a consistent approach to lending decisions, minimise the bank’s losses due to delinquency and provide a more granular approach to customer management enabling the bank to build even better relationships with its valued customers.
Bede Pohlen, Executive Vice President - Chief Risk Officer from UAB commented: “We are delighted to be working with Experian as our analytics partner of choice. UAB is one of the fastest growing banks in the Middle East and Experian will be essential in underpinning our rapid growth programme with more efficient and consistent decisioning. Experian’s expertise in delivering customer scoring models will help us support a sustainable and more profitable growth strategy whilst enabling us to engage with our most valued customers, reduce risk and enhance the quality of our credit portfolio.”
Jonathan Taylor, Regional Manager of Experian Decision Analytics, Middle East, added: “Experian is looking forward to working closely with United Arab Bank to support its major customer growth plans in the Middle East over the next three years. This is our first analytics deployment for UAB and we are excited by the prospect of delivering real value to our client through better decisioning with respect to credit and enabling the bank to develop more profitable long-term relationships with its customers.”
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Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2013 was US$4.7 billion. Experian employs approximately 17,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
About United Arab Bank
United Arab Bank P.J.S.C ("UAB" or "the bank") was established in 1975 as a joint venture between UAE investors and Societe Generale. As at 30 June 2014, the bank is operating with a network of 27 branches and offices spread across the UAE with its headquarters in Sharjah. UAB offers a range of financial services in both Corporate and Retail and is acknowledged as a leading solutions provider to the growing commercial and industrial base across the seven Emirates.
Through the provision of a comprehensive range of Corporate Banking, Retail Banking, Trade Finance, SME Banking and Treasury services, UAB is the Bank of choice among major corporate clientele segments in the UAE. With the launch of its 'Sadara' premium banking service, Islamic Banking Services and 'UAB Rewards' loyalty programme, the Bank has grown its retail customer base, aiming to expand further. All these initiatives and a consistent year on year performance have positioned UAB as one of the fastest growing banks in the region.
The bank is ranked 23rd amongst the top listed companies in the UAE and is one of the top 50 banks in the GCC in terms of market capitalization. UAB announced a record net profit of AED552m for the year ended 31 December 2013, an increase of 35% over 2012 and the highest annual net profit ever reported by UAB. For the first half of 2014, UAB announced half-yearly net profits of AED328m, an increase of 26% over the same period in 2013.
In December 2007, UAB became part of a GCC regional banking alliance upon the acquisition of 40% interest by The Commercial Bank of Qatar (CBQ), Qatar's largest private sector bank. United Arab Bank's strong financial performance in subsequent years is indicative of the benefits gleaned from its strategic alliance with the Qatari Bank.
The Commercial Bank of Qatar has similar alliances with National Bank of Oman (NBO) and Alternatifbank in Turkey, thus providing a solid platform for all three banks to grow strongly as we move forward.
For more information, visit http://www.uab.ae