PIC Solutions Provides Risk Management Support to American Express

Amex (Saudi Arabia) Limited, based in Riyadh, Saudi Arabia, has signed an annual RiskMentor contract with PIC Solutions to cover specialist credit risk services for the next twelve months.

Amex (Saudi Arabia) Limited is a joint venture company, equally owned by Amex (Middle East) EC and The Saudi Investment Bank. The company owns and operates the American Express Card and Merchant business in the Kingdom of Saudi Arabia. Through this RiskMentor consulting contract, Amex can utilise resources from any area of PIC Solutions expertise, including credit risk management consulting, analytics and software services for all their credit risk initiatives.

The RiskMentor service is a retainer-based relationship that ensures maximum productivity, combined with the benefits of fixed monthly budgeting. This consulting engagement is designed to provide Amex with access to a range of turnkey solutions including risk management strategies, collections policies, new and existing account profitability analysis and application scorecards validation. These services allow Amex to capitalise on PIC Solutions expertise, enabling them to implement effective policies and procedures focused on delivering measurable business benefits.

Priyan Attygalle, CEO of Amex (Saudi Arabia) Limited, states, “In our competitive environment, we are continuously searching for innovative ways that will enhance our credit business. Through this RiskMentor service, we can optimally utilise PIC Solutions risk management personnel to achieve our strategic objectives. We look forward to growing our relationship with PIC Solutions and working with them over the upcoming year.”

Stephen Leonard, Managing Director of PIC Solutions, adds, “PIC Solutions has years of experience of the Saudi Arabian market and so understands the dynamics that impact the country’s consumer credit industry. Through this RiskMentor contract our specialist resources will ensure ongoing credit and risk management consulting support to Amex as and when they need it. We look forward to adding significant value to all of their new business initiatives.”