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Bank Muamalat refines credit risk program with SAS®

KUALA LUMPUR  (May 09, 2011)  – In order to enhance its enterprise risk management and lending decisions, Bank Muamalat Malaysia Berhad chose SAS Credit Scoring for Banking from SAS, the leader in business analytics software and services.

According to Dato' Hj Mohd Redza Shah Abdul Wahid, CEO of Bank Muamalat, "As a fully Shariah-compliant bank, we continually seek to improve our banking standards and services. Our strategy of partnering with SAS, and using SAS Credit Scoring for Banking, will enable a higher level of control of the bank's lending activities, through a comprehensive, enterprisewide dashboard view. This bold move helps us become closer to our goal of transforming Bank Muamalat into a leading Shariah bank in Malaysia."

By providing an integrated credit scoring system that spans data creation and management, scorecard development and other predictive modeling, and enterprisewide reporting, Bank Muamalat can work on gaining better governance and transparency. This would encourage more trust and the possibility of increased investments from the business community and the public.

Dato' Hj Mohd Redza believed that to reduce exposure to high-risk accounts, the bank needed a proven, world-class solution for faster and more accurate credit assessments. "With SAS, we have a more reliable point of information for management decision making. This will help us respond quickly to both customers' and the market's dynamic demands while maintaining a high standard of credit rating processes in-house." 

"SAS Credit Scoring for Banking enables lenders to rapidly develop, validate, deploy and monitor credit scorecards faster, cheaper and more flexibly in a low-risk integrated environment," said Andrew Tan, Managing Director of SAS Malaysia. "By having a complete, end-to-end solution, Bank Muamalat can make more informed credit risk decisions to quickly grow its lending business significantly while remaining prudent and compliant.

"SAS and Bank Muamalat are both working towards similar objectives – to reduce banking risks and increase ROI. SAS has been the market leader in business analytics software for 35 years by delivering solutions that address pain points faced by financial services firms both worldwide and in local markets like here in Malaysia," he concluded. 

SAS Credit Scoring for Banking is expected to be completely implemented within the year. 

About Bank Muamalat Malaysia Berhad

Bank Muamalat Malaysia Berhad commenced its operation on 1 October 1999 with its HQ in Kuala Lumpur. It is a full-fledged Islamic financial institution operating under the Islamic Banking Act (1983), and is a leading financial institution offering Shariah-based financial services and products. As a commercial bank that offers Shariah-based products and services, the bank provides a wide range of deposits, financing and banking products and services comparable to the Malaysian economy, irrespective of race, religion or company. Bank Muamalat has personnel experienced in Islamic banking and its reach is underpinned by a nation-wide network of 55 branches, service centres and an off-shore branch based at the Labuan International Financial Centre.

About SAS

SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 50,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world The Power to Know® .

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