PIC Solutions Develops Scoring Solution for Woolworths Financial Services

Cape Town, South Africa ? PIC Solutions has been selected by Woolworths Financial Services to develop an expert application scorecard for the organisation’s personal loans portfolio.

Woolworths Financial Services is the financial services division of Woolworths, a major South African home, food and clothing retailer, with more than 200 stores countrywide. Since 1993, Woolworths Financial Services has been providing credit through its flagship private label in-store Woolworths card that allows consumers to purchase Woolworths goods and services on credit. Today, Woolworths Financial Services provide credit to over 1 million consumers through financial services products covering personal loans, Visa credit cards and in-store cards.

As part of their ongoing commitment to improving the profitability of the organisation through effective risk management policies, Woolworths Financial Services has contracted PIC Solutions for their scoring expertise. During this analytical project, the PIC Solutions predictive modelling team will work closely with Woolworths Financial Services to ensure that the scorecard significantly improves results and bottom-line business benefits.


Sivi Pillay, Head of Customer Risk and Compliance at Woolworths Financial Services, states that, “Woolworths Financial Services is currently finding new ways to address the challenges of a competitive retail market. We selected PIC Solutions for their scoring expertise and knowledge of the South African retail industry and this scoring model will ensure that we target the right target market for the future growth of our loans portfolio.”

Eva Neves, Senior Consultant at PIC Solutions, adds, “PIC Solutions, has worked with Woolworths Financial Services for many years and has gained an intimate understanding of the company?s goals, dynamics and host systems. We are delighted to work on this scoring assignment with Woolworths Financial Services and ensure that the new scorecard provides significant business benefits.”