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Prestige Revamps Credit Scorecard Process

November 15, 2011

CARY, N.C. — Prestige Financial Services Inc. has selected analytics software and services provider SAS to revamp its internal credit scorecard program.

"Our biggest challenge was the excessive amount of time spent associated with our manual internal credit scorecard creation," said Steven Warnick, vice president of risk at Prestige. "And we of course are always looking for ways to improve both the predictiveness of our modeling as well as the accuracy of our reporting."

With SAS Enterprise Miner, Prestige can create highly accurate predictive and descriptive models based on large volumes of data from across the enterprise, according to Prestige. Paired with SAS Analytics Pro, Prestige can better access, manipulate, analyze and present information including accessing the data from almost any source.

"We anticipate a 210-hour time savings with each update of our credit scorecard. We also expect to roll out behavioral scorecards in 2012," Warnick said. "Combined, we expect the total time savings to equate to roughly $25,000 annually, and predict a reduction in delinquency and default rates."

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