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Vietnam bank ABBANK uses SAS Advance Analytics Solution for Risk Management to speed customers’ credit scoring process for its retail customer segment
HANOI, Vietnam – 19 July 2022: An Binh Commercial Joint Stock Bank (ABBANK), a leading joint stock commercial bank in Vietnam with special focus on retail banking, has partnered with Thakral One, a Singapore-based technology consulting and services firm, to implement an automated credit scoring engine to streamline the risk calculation process for their customers. Using advanced analytics, the enhanced approach eliminates manual processing and enables faster credit decisions that improve customer experience. It will also contribute to a better revenue and compliance position by reducing risky debts and by being consistently aligned with credit scoring regulations.
“ABBANK’s Board of Directors has identified this as one of the key projects of the bank, aiming to build a system that can support credit decision making quickly and effectively, thereby minimizing qualitative risks, bringing significant and long-term business performance,” says Mr. Nguyen Manh Quan, Acting General Director of ABBANK, during the signing ceremony. “The cooperation with experienced partners such as Thakral One, will help ABBANK not only to efficiently implement and operate SAS solutions, but also learn more practical implementation approaches at home and abroad.”
“Investing in leading decision management and analytics capabilities will enable ABBANK to significantly improve their time to market, enhance capability to scale, and better manage risks. Thakral One is humbled to be embarking on this data-driven journey with ABBANK.”
Bikram Singh Thakral, CEO of Thakral One
Built using the SAS Intelligent Decisioning Solution which is powered by Intel® Xeon® Scalable processors with built-in AI accelerators and optimized for performance with Intel® Math Kernel Library (Intel® MKL), the system gathers data elements that cover the entire credit management process. The decision orchestration engine combines statistically reliable information with leading data analytics features and extensive model inventory.
ABBANK will be able to assess the creditworthiness of loan applicants using policies that evaluate existing bank records and external sources that provide customer and financial information. All this information is ingested by analytical models that help determine credit and fraud risks. A credit score is then identified to arrive at a decision.
“We are glad to partner with Thakral One in providing the advanced analytics capabilities to support the decisioning requirements of ABBank. SAS Intelligent Decisioning is an industry- and analyst-recognized technology that helps fast-track and empower smarter decision-making, improving time to execute and yet allows for ease of management in a governed environment. We understand the importance of making accurate and timely decisions within ABBANK and therefore, the technology from SAS incorporates the use of artificial intelligence (AI) and machine learning (ML) models to support this,” says Cheam Tat Inn, Managing Director (Malaysia), SAS.
With SAS Intelligent Decisioning – combining comprehensive capabilities in statistics, decision orchestration, governance, business rule management, and advanced analytics – SAS, Thakral One, and Intel are transforming how established financial institutions, like ABBANK in Vietnam, address risk management challenges by embracing digital and cutting-edge solutions.
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About An Binh Commercial Joint Stock Bank
An Binh Joint Stock Bank (ABBANK) was established on May 13, 1993, with the vision of becoming one of the leading commercial joint stock banks in Vietnam focusing on the retail sector.
Pursuing an operational strategy associated with efficiency and sustainability with the motto “putting customer satisfaction at the heart of all business activities”, during the nearly 30-year development journey, ABBANK has always been evaluated as a prestigious bank, a dedicated companion, trusted by customers, partners and investors.
In recent years and in the 5-year strategy to 2025, ABBANK has been and will focus its operations and digitize processes to improve the customer service experience, helping customers access banking products and services without having to go to the place to transact.
About Thakral One
Thakral One is a consulting and technology services company focused on value-added bespoke capabilities, enhancing decisions through analytics, and unlocking possibilities in the cloud. The company engages clients collaboratively and believes in grounded, practical outcomes. This approach is possible through partnerships with leading global technology providers. Headquartered in Singapore, the company’s pan-Asian footprint covers 16 countries with 1000+ consultants.
In Vietnam, Thakral One specialises in delivering IT services and analytics-driven solutions that help organisations transform in the areas of risk and fraud management (IFRS, AML), data management, business intelligence, and customer experience. The company established its Vietnam presence in 1999 and has evolved to become a trusted partner and technology enabler for esteemed clients in Financial Services, Banking, Telco, and Consumer Products.
About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.