Cape Town, South Africa-based – PIC Solutions expanded its normal Collections HealthCheck to a full Credit Life Cycle HealthCheck for the Zambia National Commercial Bank Plc (ZNCB).

ZNCB has established itself as the leading bank in the provision of services to both the retail and corporate sectors of the Zambian economy and has a network of 42 branches strategically located throughout Zambia.

The PIC Solutions range of HealthChecks have become an industry-benchmark for custom consulting assignments and are highly popular with clients in the Africa Middle East region. In these assignments, PIC consultants work with the client on a project basis, with fixed costs, agreed deliverables and milestones. While credit grantors regularly contract PIC to conduct a HealthCheck on a specific segment of their credit operation, this service has now been made available over the full credit life cycle in one single assignment.

The key objectives of the expanded Credit Life Cycle HealthCheck is to provide an independent high-level review of the current credit practices of the organisation and to make practical business recommendations for improvements that can be implemented in a realistic timeframe.

Some of the areas that are reviewed in the HealthCheck include:

  • Credit products and positioning within a retail environment
  • Account origination and applications processing
  • Scoring and use of data in decision making using best-practice risk assessment technologies
  • Authorisations management in credit life cycle decision points
  • The operational structure of the collections department
  • Collections technology, policies and procedures

Mark Wiessing, Managing Director of ZNCB states, “As part of our ongoing commitment to improve credit risk management best practices, ZNCB seeks to ensure that our credit life cycle strategies are effective and that they match industry benchmarks. The Credit Life Cycle HealthCheck will ensure us that our entire operation will be optimised.”

Stephen J. Leonard, Managing Director of PIC Solutions added, “Best practice customer management needs to be applied throughout the entire customer life cycle – from initial marketing pre-screening right through to portfolio management and charge-off policies. The Credit Lifecycle HealthCheck is a product that delivers bottom line benefits throughout the entire credit life cycle and clients throughout Africa and in the Middle East have shown huge interest in this service.”

PIC Solutions is a leading specialist credit risk solutions company in the EMEA region.

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