D&B presents at the 9th Annual Middle East Retail Banking Forum in Dubai
The 9th Annual Middle East Retail Banking Forum organized in Dubai between April 7th & 9th, 2014 brought together over 200 prominent retail bankers from over 10 countries.
- (1888PressRelease) April 27, 2014 - Dun & Bradstreet (D&B) - the world's leading provider of business insights, was the Lead Analytics Partner at the three day premier banking event. The annual conference is a platform for industry veterans to discuss trends, innovation, technology, customer engagement strategies and their vision for the future of retail banking.
The forum included engaging discussions and presentations by several industry leaders and solutions providers from around the world, including Mr. Ganesh Sethuraman, Managing Director of D&B Technologies and global center of excellence for analytics and technology solutions for Dun & Bradstreet worldwide. His presentation provided insights on how the banks in Middle East use Analytics to improve their business performance. He discussed the usage of analytics in the region which is still in early growth phase compared to more mature markets where analytics is used extensively. Mr. Ganesh's presentation included the key findings of recent D&B survey on usage of analytics in Middle East Banks and comparison of same with global benchmarks.
"The usage of analytics in the Middle East Banking industry is relatively low compared to more mature markets, as only about one in three banks in the region use predictive analytics. Among large banks with retail assets of more than $5 Billion, this improves to one in two banks. The two key reasons for lower usage of analytics are 'lack of data' and a belief that 'a set of business rules' are good enough to ascertain the credit worthiness of a customer. However D&B study on more than 100,000 local customers found that analytical scorecards provide 20% more accurate results compared to commonly used business rules" said Mr. Ganesh.
Quoting the results from a live case study of a large bank in UAE, he further stated that by using analytical scorecards, D&B was able to increase the approval rate by 8%, while reducing the NPAs by 1.5%. He also said that the cost of analytics has been coming down dramatically in last five years due to reduction in data storage costs and availability of more powerful data mining tools and as banks realize the business benefits of analytics, they will be willing to commit more investments in building their analytical capabilities.
About Dun & Bradstreet (D&B)
Dun & Bradstreet (D&B) is the world's leading provider of business knowledge and insights with presence in over 200 countries. Established in 1841, D&B is a NYSE listed company and is consistently ranked among top 3 most admired companies by Fortune. D&B has a strong local presence with regional headquarters in DIFC, Dubai and ten local offices across Middle East, Africa and South Asia. Our banking solutions comprise of Analytical Models, Risk Management Platforms and Information Management solutions by leveraging on strong domain knowledge, global modeling expertise, latest analytical technologies and awareness of local factors. Seven of the top ten banks in UAE and several other banks in region rely on D&B solutions to reduce risks, increase revenues and improve portfolio performance.
For further details, please contact
Vinod Deiveegan
9714 7027300
DeiveeganV ( @ ) dnbsame dot com
For further information on D&B's analytics and technology solutions, please visit
Website: http://www.dnbtechnology.com/
Follow us on Twitter: ( @ ) DnbTechnologies
Join us for a discussion on Linkedinhttp://www.linkedin.com/groups/Credit-Rating-Scoring-Experts-Middle-4782703
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