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Coventry Building Society signs for Experian risk management services

16 January 2006  |  2886 views  |  0 Source: Experian

Coventry Building Society, one of the top five building societies in the UK, has chosen Experian, the global information solutions company, for its ongoing risk management needs.

The new three year deal with Experian will see Coventry Building Society benefiting from Experian's Delphi for Customer Management (DCM) solution. DCM is a suite of highly predictive generic bureau-based behavioural scorecards that provides lenders with a regularly updated risk assessment of all their existing customers. Coupled with the Society's own internal data, DCM is also providing an accurate risk assessment for credit activity with other lending institutions – providing a true "customer view".

"As part of our move towards adopting the Internal Ratings Based (IRB) Approach to regulatory capital calculations under Basel II, we took the decision to choose Experian to ensure that we had access to the most accurate, up-to-date and detailed information about the credit behaviour of our mortgage customers and to ensure that we embedded the most advanced risk management techniques into our business," said Sandy Mehra, Mortgage Risk Manager at Coventry Building Society. "The richness of Experian's data within the DCM solution not only provides the platform upon which to build the robust behavioural models required as part of the IRB Approach, but will also enable us to increase our understanding of credit risks and enhance our ability to make the right decisions at the right time, both at individual customer and strategic levels.

"By utilising the DCM solution, we will be able to derive further business benefits such as informing the corporate planning process, achieve a better understanding of risk cost and pricing of products, and further aid determination of our collections strategies."

Jill Gratton-Fisher, Sales Director in Experian's Consumer Business, added: "Coventry Building Society has chosen a solution that is able to meet its objectives in a timely and cost-efficient manner. Like other lenders, it is using the DCM solution to drive in-depth risk analysis of their existing customers and to help complete their Basel II development.

"The efficient implementation of DCM within the Coventry Building Society means that Basel II compliant risk management techniques can come online in a timely manner. This is critical if the Society is to meet its objectives with regard to timescales for applying for IRB approval from the FSA whilst also allowing the Society to gain early benefits in terms of use in the business."

In conjunction with DCM, Coventry Building Society is also utilising Experian's Customer Indebtedness Index (CII) which helps the Society understand levels of credit utilisation and potential overindebtedness among its customers, as well as Customer Risk Screening (CRS) scores and Geo-Delphi data (geo-demographic profiles) to aid in marketing and further analysis.

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