Piraeus Bank Group balances credit risk, achieves cost and time savings with SAS®
In today's turbulent economy, rigorous and accurate credit risk management is critical to mitigating exposure. That's why Piraeus Bank Group uses SAS Credit Scoring for Banking. With SAS, the bank has streamlined and automated the way it collects and manages risk data, optimizes model development, and produces reports with greater speed and accuracy. The result? Cost and time savings – and continued vitality even in hard times
Piraeus Bank Group - one of Greece’s most dynamic and active financial institutions - comprises a network of companies that cover all financial and banking activities in Greece. While it has a growing presence in the global financial centers of London and New York, Piraeus Bank Group’s activities are focused in Southeastern Europe and the Eastern Mediterranean region.
Processing and integrating data from the bank's core systems with separate platforms posed challenges for Piraeus Bank Group's risk team, says Toula Efthymiou, Director of Credit Risk and Capital Management. Managing credit risk and providing optimum management of the bank's capital resources – the primary duties of her division – became even more challenging when Greece's economy suffered a brutal hit at the outset of the global recession.
"With SAS, we have achieved significant economies of scale in terms of resources, personnel cost and time," Efthymiou says. "As an example, we can now implement a statistical analysis at least 30 percent faster than before. Additionally, at an economic analysis level, the process is now far less time consuming."
As a result, Efthymiou adds, Piraeus Bank Group has strengthened its already pre-eminent position in Greece's banking system.
Analytics with a view
Efthymiou's division is using SAS to develop and implement methodologies that connect credit performance with economic cycle status and characteristics. This capability allows the bank to manage credit cycles proactively, according to current economic and business conditions.
"With the success we've had so far," Efthymiou says, "I foresee using the solution in the bank's other divisions."
The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results. The only warranties for SAS products and services are those that are set forth in the express warranty statements in the written agreement for such products and services. Nothing herein should be construed as constituting an additional warranty. Customers have shared their successes with SAS as part of an agreed-upon contractual exchange or project success summarization following a successful implementation of SAS software. Brand and product names are trademarks of their respective companies.
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Director of Credit Risk and Capital Management
Piraeus Bank Group
Maintain appropriate levels of credit risk to grow in an ailing economy; automate and integrate data management, reporting, and model development and validation.
SAS Credit Scoring for Banking
Save time and costs through efficiency gains, such as reducing data analysis and report generation time by more than 30 percent.
“"We have achieved significant economies of scale in terms of resources, personnel cost and time."”
Director of Credit Risk and Capital Management Division