Alfa Bank in Kazakhstan achieves significant efficiency improvement with Experian’s PowerCurve
Experian’s PowerCurve™ has allowed Alfa Bank in Kazakhstan to significantly reduce its loan approval time by 90 percent
Moscow, 12 February 2015 - Experian, the global information services company, has today announced that its PowerCurve Strategy Management solution has reduced the approval time of individual loan applications by up to 90 percent, while maintaining the quality of the credit portfolio at Alfa Bank in Kazakhstan. It has also delivered significant operational efficiency and cost savings, and reduced errors to less than one percent.
Alfa Bank in Kazakhstan implemented PowerCurve after the previous release was successfully deployed at Alfa Bank in Russia.
Alexey Zhukov, Retail Risk Director, Alfa Bank, Kazakhstan, said: "Today Alfa Bank’s employees are actively using PowerCurve to assess applications for all unsecured cash loans, credit cards, and refinancing products. We have substantially increased the application processing speed and decisioning accuracy, while maintaining the credit portfolio quality. Due to its flexibility, PowerCurve has made it possible to implement several new products in a short timeframe.”
Experian’s PowerCurve builds on more than 30 years’ expertise in helping organisations make the best possible decisions using a powerful combination of data and advanced analytics. This means making smarter, faster and more consistent decisions to acquire profitable customers and increase market share; grow customer relationships and drive sustainable growth; and manage customers more effectively and efficiently for an enhanced customer experience and more long-term, valuable relationships.
Charles Butterworth, Managing Director, Experian, ЕМЕА, said: "We created PowerCurve in response to growing market demands for truly agile decision management software, enabling clients to quickly adapt to dynamic business and regulatory environments. PowerCurve fully integrates the power and intelligence of advanced analytics to drive better decision-making, improve efficiency and generate profitable growth. We are pleased to support Alfa Bank in building a reliable foundation for large-scale growth of the bank’s retail lending portfolio.”
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About Experian We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft. In 2014, we were named by Forbes magazine as one of the ‘World’s Most Innovative Companies’.
We employ approximately 16,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
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 March 31, 2014, was US$4.8 billion.
About JSC SB Alfa Bank Kazakhstan
Alfa Bank Kazakhstan is a branch of Russian OJSC Alfa Bank and belongs to international Alfa Bank group present in Russia, Ukraine, Belarus and the Netherlands. Alfa Bank has operated in the Republic of Kazakhstan since 1994, being the first Russian bank in Kazakhstan. The bank is a participant of the Deposit Guarantee Fund. www.alfabank.kz