April 11 2016, Dubai : Blom Bank one of the most respected and longest established banks in Lebanon, today announced the appointment of Qarar Consulting, a leading provider of advanced analytics and risk management solutions. Qarar is to provide leading edge credit risk advisory and analytical services to support Blom Bank in its continued drive for innovation, excellence and controlled growth.
The partnership covers a range of analytical services to support Blom Bank’s plans to enhance its retail business, improving the customer experience through automated decisioning. The initial engagement will include the development of new sophisticated data driven analytical models to enable Blom Bank to better understand its customer behaviours, and serve them more effectively through new products and channels.
“Qarar’s local knowledge, analytical experience and business approach was clearly an important factor in our decision” noted Blom Bank’s Elias Aractingi, General Manager Retail Banking. “In addition, an important factor in our decision is Qarar’s knowledge base and commitment to the region, enabling Blom Bank to develop its growth plans in a progressive and sustainable manner, through long term partner relationships”.
“We are delighted to have the opportunity to work with Blom Bank and demonstrate the value that Qarar can bring in implementing ever changing credit and risk development objectives”, commented Zaid Kamhawi, CEO at Qarar. “The importance of sound risk practices, supported by objective understanding of the underlying data is increasingly important, especially in times of economic uncertainty. Blom Bank, as an award winning organisation is leading the way in this regard, and we are excited to be supporting their objectives”.
Qarar is the region’s leading Decision Analytics company, specialized in offering consulting, decision analytics and software technology to deliver tailor-made customer management and process automation solutions. Headquartered in Dubai, serving customers across the Middle East and North Africa, Qarar, helps its clients solve business challenges and achieve sustainable business outcomes. We achieve this across the customer lifecycle by employing the right mix of predictive analytics, market experience based advisory and decision technologies. Our subject matter expertise spans the domains of Strategy, Pricing, Credit Risk Management, Marketing and Sales Analytics. In addition, by harnessing the power of proprietary credit bureau data, we have built a tangible advantage and offer a suite of industry leading technical solutions for our clients that can unlock the true value and power of their information.
About BLOM BANK
BLOM BANK is a leading Lebanese bank which has repeatedly and unanimously been selected as the Best Bank in Lebanon by the most recognized regional and international institutions. Its successful business operations are based on a universal banking model that includes: Commercial Banking, Corporate Banking, Private Banking, Investment Banking, Asset and Wealth Management, Retail Banking, Islamic Banking, Brokerage Services, and Insurance Products and Services.