Bank Muamalat Ties with SAS Malaysia to Implement Credit Risk Capabilities

Bank Muamalat Malaysia Berhad together with business analytics leader SAS Malaysia (SAS) jointly announced their official signing of contract for the purchase of the SAS Credit Risk Scoring Application to boost the bank’s organisation-wide risk financing evaluation capabilities.

According to Dato’ Hj Mohd Redza Shah Abdul Wahid, CEO of Bank Muamalat, “As a full fledged Shariah-compliant bank, we continuously seek to improve our banking standards and services. This strategic alliance with SAS Malaysia for its Credit Risk Scoring Application is one example of how we will move towards a higher level of control on the bank’s lending activities with a very good dashboard-view. This bold move will bring the bank closer to its goal of transforming the bank into a leading Shariah bank in Malaysia.”

He disclosed that by providing an integrated credit scoring system, good governance and transparency can be realized, encouraging more trust and therefore improved investments from the business community and the public. Dato’ Hj Mohd Redza says that in order to reduce the exposure of high risk accounts, the bank was looking for a world-class and proven application that provides a faster and higher accuracy of credit assessments.

“SAS solution provides a reliable point of information for decision making so that the management is able to respond quickly to the customers and market’s dynamic demands, while maintaining a high-standard of credit rating process in-house.”

Andrew Tan, Managing Director of SAS Malaysia shares that the SAS’ Credit Risk Scoring Application is a statistical approach targeted to provide faster, more accurate credit assessments for the bank.

“By having a complete, end-to-end Credit Risk Scoring solution, Bank Muamalat can make informed credit risks decisions in its quest to grow its lending business significantly in a relatively short time whilst remaining prudent and compliant,” says Tan.

“SAS and Bank Muamalat are working towards similar objectives - which are to reduce banking risks and to increase ROI. We offer appropriate solutions that solve the pain points faced by Malaysian businesses. That is why we still remain as the leader in Business Analytics software and solution in this market for the past 35 years,” he concluded.

The SAS Credit Risk Scoring Application is expected to be completely implemented within 11 months