China Minsheng Banking Corporation (CMBC)
is to deploy Basel II compliance consulting, analytic services and
support from US-headquartered data analytics and decision
management technology provider, FICO.
In addition to ensuring Basel II
compliance, the project is part of CMBC’s initiative to focus on
small and micro businesses by using data-based risk management
tools and analytics.
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CMBC, China’s 11th largest bank
by assets, said that the initiative will reduce its capital reserve
requirement.
FICO’s assignment with CMBC includes
testing and verifying the existing grading model; designing new
grading models for application, transaction and collection in the
small and “micro” business, retail and credit card businesses and
conducting pool assignments of risks.
In addition, FICO will develop strategies
for retail products and advise on IT requirements.
Zhao Jichen, member of the Basel II
Implementation Steering Committee of CMBC said:
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By GlobalData “FICO impressed us with their grasp
of Basel II challenges, their leadership in risk management for
small business customers, and their experience with similar
projects in China and around the world.
FICO is currently working with 11 of the
top banks in China to mitigate credit risk, profitably grow
portfolios, adapt to regulatory change and mitigate fraud risk. The
Basel II project marks FICO’s first engagement with
CMBC.
