Nova Credit Enhances Credit Reference Services with SAS
Capitalizing on expanding business opportunities in Hong Kong and the Greater Bay Area
Nova Credit, a Hong Kong-based credit referencing agency specialized in data intelligence services for financial institutions, has selected and deployed the SAS Credit Scoring Solution for developing its critical bureau scorecards and other analytical credit risk management solutions. The solution enables Nova Credit to capitalize on expanding business opportunities in the FinTech industry and cross-boundary financing services across the Greater Bay Area.
“SAS is the industry-leading analytics expert in offering proven and reliable commercial statistical software, with stable analytic performance and timely technical support. 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,” said Mr. Howard Ho, Senior Data Scientist for Nova Credit. “Our credit referencing results generation process has become faster and more accurate with the SAS software; 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 the 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 analytical models, while providing its financial customers with insights to minimize lending risk and improve 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 volatile market.
“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 thus essential for forward-thinking financial institutions like Nova Credit,” said Mr. Eric Chiang, General Manager for SAS Hong Kong. “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.”
About Nova Credit
Nova Credit Limited is a newly established credit reference agency (CRA) in Hong Kong and supported by leading financial institutions and industry practitioners. Nova Credit aims to promote the development of the credit bureau industry in Hong Kong and act as Fintech enabler for the financial industry. As a result, financial institutions can fully benefit from state-of-the-art credit & risk technology and smart data analytics. Nova Credit is ready to take the HK credit bureau service to the next level, contribute to the Greater Bay Area and the Belt-and-Road initiatives by connecting bureaus and data infrastructure in the region to enable legitimate seamless access.
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