Source: Austin Logistics
Austin Logistics, the leading provider of event-based analytic software used to create value from customer interactions, announced today that China Construction Bank has purchased Vincio.
Vincio is a real-time, enterprise decision platform. The bank, which is China's second largest credit card issuer with more than 12 million cards as well as its largest mortgage bank, will use Vincio to deploy all of its risk models, credit policies and strategies across the entire consumer banking business.
Vincio is known for its highly scalable service-oriented architecture, best-in-class ability to "fuse and use" disparate data and its rapid speed in bringing new solutions to market. As part of the bank's Basel II IRB project, China Construction Bank chose Austin Logistics over several large competitors, based on Vincio's processing speed, flexibility and ease of use.
"For Austin Logistics, China presents an exciting opportunity to provide knowledge transfer in a dynamic lending environment and partner with the banks to manage consumer credit and fraud risk," said Tom Miller, Austin Logistics Senior Vice President and head of international operations. "Our early success in market confirms that financial institutions in China find compelling value in our deep knowledge of risk management and our ability to deliver industry leading technology for innovative, cost-effective and proven best practice."
Today's news builds on Austin Logistics' growing success in China. The company recently announced the integration of Austin Logistics' EarlyDetection System into First Data International's VisionPLUS processing system in China. As a result of increasing market share, Austin Logistics has set up an office in Shanghai to help Chinese consumer lending companies safely meet the demands of the country's rapidly growing credit market.
"Establishing our local technical team demonstrates Austin Logistics' long-term commitment to the market and enables us to tailor risk management and analytic solutions to the current needs of local banks" added Pan Feng, Managing Director and Chief Representative for China.