HDFC bank, one of India's premier banks, today announced that it is using neural predictive models from Neural Technologies for risk management in its Credit Cards and other Retail Assets portfolios.
HDFC bank selected Neural Technologies following a comprehensive proof of concept study, aimed at finding a supplier who could provide them with a superior analytical and scientific approach to reduce the delinquency rates in their credit card and retail assets portfolio.
Following selection, Neural Technologies worked alongside HDFC bank's personnel to develop models for Credit Card Collections, Credit Card Recovery and Retail Assets (Personal Loans) Collections.
The models are proving to be very successful. Rajesh Kumar, Sr Vice President of HDFC bank said "We selected Neural Technologies based upon the performance of their models and the predicted return on investment, and we are extremely satisfied with the results achieved so far."
HDFC bank has plans to expand its relationship with Neural Technologies and explore new areas in their business where they might benefit from Nt's expertise.
Arinjay Jain, Director of Neural Technologies' Indian operation said, "Neural predictive analytics is an ideal risk management tool, providing valuable decision-support to businesses looking to manage and reduce credit risk and fraud losses. A pioneer in this field among the Indian banks, HDFC bank has enthusiastically embraced the concept and is now starting to reap the benefits. We look forward to a long and mutually beneficial relationship between our two companies".
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