Analytics provides valuable and trustworthy insights for FinTechs to seize future opportunities
SAS offers proven credit risk solution for bureau scorecards and analytical model development
Better-informed consumer lending decisions
Nova Credit enhances its credit reference services with SAS
The ever-developing and expanding FinTech industry is driving a growing demand for data analytics in financial risk management and credit reference services. The FinTech environment is evolving daily, with more comprehensive yet scattered data, giving rise to new risk models. The huge call for personalized consumer lending products requires more advanced data analysis tools and credit risk modeling to minimize the lending risks.
Nova Credit, a credit referencing agency in Hong Kong, provides comprehensive data intelligence services to financial institutions. It not only offers professional credit referencing solutions to consumers and SMEs in Hong Kong, but also facilitates cross-boundary financing services across the Guangdong-Hong Kong-Macao Greater Bay Area. To address the demands of its expanding business opportunities, Nova Credit deployed SAS Credit Scoring to develop its critical bureau scorecards and other analytical credit risk solutions throughout the credit cycle.
With SAS, we are able to adopt our scorecard development to various business situations in a fast and effective way. It also frees up Nova Credit’s analysts to concentrate on developing new and better services and solutions, which are vital for us to take full advantage of increasing business opportunities. Fiona Fan Head of Analytics Production and Innovation Nova Credit
Reputable and reliable software to address evolving business needs
“SAS is the industry-leading analytics expert in offering proven and reliable commercial statistical software, with stable analytic performance and timely technical support,” says Fiona Fan, Head of Analytics Production and Innovation at Nova Credit. “With SAS’ longstanding and highly regarded track record in the banking industry, we are confident in deploying its solution to support our core daily operations. With SAS, we are able to adopt our scorecard development to various business situations in a fast and effective way. It also frees up Nova Credit’s analysts to concentrate on developing new and better services and solutions, which are vital for us to take full advantage of increasing business opportunities.
SAS’ mature credit scoring solution provides Nova Credit with powerful data analytics tools, along with an extensive model inventory provided by SAS® Enterprise Miner™, to efficiently develop core business bureau scorecards and models, while minimizing the lending risk and improving governance. This not only enables Nova Credit to meet its business needs, but also helps its customers gain and maintain a competitive edge in an evolving and sometimes volatile market.
Nova Credit – Facts & Figures
Credit reports and data
A trusted partner to bolster competitiveness for future opportunities
Looking forward, the credit-referencing and consumer-lending industry is expanding rapidly in Hong Kong and the Greater Bay Area. A data analytics-based credit scoring solution is essential for forward-thinking financial institutions, providing valuable insights to minimize the lending risk and helping them design and implement the most suitable products for their customers.
As an industry leader in advanced analytics, SAS will continue to be Nova Credit’s trusted partner to support and enhance its products and services with the latest technologies, while at the same time reinforcing its competitive advantages and helping it seize future business opportunities.
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.