Dubai UAE, October 4, 2017: Qarar, a leading regional provider of credit risk analytics and decisioning software, today announced a further strengthening of its partnership with Alawwal Bank, the longest-established provider of financial products and services in the Kingdom of Saudi Arabia and one of the most dynamic financial service providers. The programme will see Qarar advancing Alawwal’s capabilities in the area of consumer collections and recoveries through a mix of analytically driven advisory services and software technology through its market leading CollectSmart platform.
The programme forms part of Alawwal’s broader goal’s to enhance its drive towards a data and analytically advanced approach to customer credit risk management, providing efficiencies, greater management control and at the same time offering improved customer service.
Qarar will be working to integrate the Bank’s data, supplemented with external information from the Saudi Credit Bureau, to develop a segmented and statistically modelled approach to enhance loss mitigation and improve collector effectiveness. The key to the transformation is the ability to execute in a live environment, where the flexibility and business benefits of CollectSmart come to the fore.
Zaid Kamhawi, CEO at Qarar, commented: “We are delighted to be strengthening our long standing relationship with Alawwal Bank and further demonstrate the considerable value that our expertise in credit risk and technology can bring to the Bank. This is particularly important at a time when there are significant changes and challenges in the market and a growing trend towards bringing analytics and automation to core banking operations. We will be working closely together through a partner approach to ensure that Alawwal Bank achieves its management objectives and importantly fulfils its value proposition with its’ own customers.
Qarar is the region’s leading Decision Analytics company specialised in offering consulting, decision analytics and software technology to deliver tailor-made customer management and process automation solutions. Headquartered in Dubai and serving customers across the Middle East and North Africa, Qarar helps its clients to solve business challenges and achieve sustainable business outcomes. We achieve this across the customer lifecycle by employing the right mix of predictive analytics, and market experience based advisory and decision technologies. Our expertise spans Strategy, Pricing, Credit Risk Management, Marketing and Sales Analytics.