Credit Scoring is a technique used world-wide in the consumer credit industry to assist credit managers in the management of different product portfolios. It enables the level of risk associated with an application to be estimated at the time of application, and therefore assists in the decision as to whether an application should be accepted or declined. Proaxiom specialise in the development and implementation of customised and generic scorecards for use in the credit industry.
Behavioural scoring is applied to data collected at the point of sale for a consumer credit providers “through the door” population.
Proaxiom applies multivariate statistical techniques that have become the industry standard among scorecard developers for more than three decades. Proaxiom also have a participative approach to scorecard building and welcome client participation throughout all project phases. This ensures that Proaxiom scorecards are developed to the highest analytical standards and provide the optimum business outcomes for our customers.
A scorecard with automation still does not provide a complete solution, and many organisations have found this out the hard way. The environment in which we do business is dynamic not static, and the demographic and risk profile of new applicants consequently changes over time. It is vital to have an effective monitoring tool in place to provide feedback to management and to adjust and refine the scorecards, policy rules and associated credit and marketing strategies.