PHOTO - Dato' Redza, CEO of Bank Muamalat (left) presenting a memento to MD of SAS Institute, Andrew Tan (right)
KUALA LUMPUR, 24 MARCH 2011- Bank Muamalat Malaysia said it will boost its risk financing evaluation capabilities by rolling out a credit risk scoring application from business analytics firm SAS Malaysia (SAS).
During the signing, Bank Muamalat chief executive officer, Dato' Hj Mohd Redza Shah Abdul Wahid, said: "As a full fledged Shariah-compliant bank, we continuously seek to improve our banking standards and services. This strategic alliance with SAS Malaysia for its Credit Risk Scoring Application is one example of how we will move towards a higher level of control on the bank's lending activities with a very good dashboard-view."
"By providing an integrated credit scoring system, good governance and transparency can be realised, encouraging more trust and therefore improved investments from the business community and the public," said Mohd Redza, adding that the bank looked for a proven application to provide more rapid and accurate credit assessments.
"This SAS solution, which is expected to be completely implemented within 11 months, provides a reliable point of information for decision making so that the management is able to respond quickly to the customers and market's dynamic demands, while maintaining a high-standard of credit rating process in-house," said SAS Malaysia managing director, Andrew Tan.
"By having a complete, end-to-end Credit Risk Scoring solution, Bank Muamalat can make informed credit risks decisions in its quest to grow its lending business significantly in a relatively short time while remaining prudent and compliant," said Tan.
"SAS and Bank Muamalat are working towards similar objectives, which are to reduce banking risks and to increase ROI [returns on investment]. We offer appropriate solutions that solve the pain points faced by Malaysian businesses."
Headquartered in Kuala Lumpur, Bank Muamalat Malaysia started operations on 1 October 1999 as a commercial bank that offers Shariah-based products and services through a nation-wide network of 55 branches, service centres and an off-shore branch based at the Labuan International Financial Centre.
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