Case Study: Ekspres
Business Challenge
The current financial climate has had a major impact on how finance companies approach and manage their credit portfolios. During this difficult period Ekspres Bank has taken the opportunity to consolidate and adapt its business and in doing so it has remained successful. Its strategy is to strengthen its operation in order to re-engage in the market with an aggressive growth agenda as the economic climate starts to improve.
The Decision Analytics answer
Based on an existing relationship, and recommendations from other lenders in the group, Ekspres Bank identified Experian as a partner for its business. Bringing long experience and a global viewpoint, Experian delivered a Functional Review, using its structured methodology, to document how well positioned the lender is to succeed with its business objectives. The review benchmarked the current operation against best practice, identified gaps and prioritised the initiatives required to move Ekspres Bank towards best practice in pursuit of its strategic aims.
The Benefits
- Halve the cost of risk with more accurate and consistent decisions and targeted scoring
- Reduce bad debt charges with more effective risk management
- Control the cost of lending with automation of manual processes and refocusing of underwriting staff
- Achieve higher margins per customer with better identification of cross-sell opportunities
- Hit growth targets by increasing the accept rate while managing risk effectively
- Launch new products and new markets with flexibility and control over lending policy
“We recognised that we needed to improve our decisioning capabilities and Experian has become our partner in the journey to best practice across our originations operation.”
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