NewswireTODAY - /newswire/ - Cape Town, Western Province, South Africa, 2007/02/08 - Ellerine Holdings Limited (Ellerines), one of Africa’s leading furniture retailers, has selected PIC Solutions to develop application scorecards for their Universal Retail/Value Retail, Rainbow Loans and Traditional Credit Retail Division portfolios.

Ellerines has subsidiaries covering both rural and urban areas across six countries in Southern Africa: Botswana, Lesotho, Namibia, South Africa, Swaziland and Zambia. As testimony to the diversity of their operations, Ellerines is positioned to take full advantage of further growth opportunities across all LSM groups both in the credit and cash retail markets.

Scorecards are a vital tool for organisations impacted by the challenges of the National Credit Act. This application scorecard assignment aims to aid Ellerines as they implement new policies and procedures to meet the requirements set out by the Act. During this analytical project, members of the PIC Solutions predictive modelling team will work closely with the organisation’s risk management personnel to ensure the successful implementation of the new application scorecards.

Danie Colyn, Group Director of Credit Control at Ellerine Holdings Limited, states, “We are growing extensively and through these scorecards we will enhance our applications processing capabilities and ultimately improve our business results. Our organisation is intent on implementing new policies and procedures to meet the requirements of the National Credit Act. PIC Solutions analytical team will use their considerable expertise to develop an effective modelling solution that caters for the challenges we face in a dynamic marketplace.”

Eva Neves, Department Head of Modelling at PIC Solutions, comments, “Our experienced modelling team understands the challenges impacting the South African market and these new scorecards will be designed to meet all business and legal requirements. The application scorecards will enable Ellerines to effectively manage the risk of their various portfolios and improve their business success.”

About PIC Solutions
PIC Solutions provides consumer credit solutions to a wide range of blue-chip organisations. We are experts in the fields of credit, risk and software and have an established track record of success powered by solutions.

Our ongoing commitment is to enable clients to optimise the credit life cycle.

Agency / Source: PIC Solutions

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