HSBC invests in business analytics

Banking group HSBC has adopted new business analytics software from Experian-Scorex to help the lending decisions of its global credit application processing unit.

HSBC will implement the Strategy Management business rules engine product to help staff consistently deploy scoring models, portfolio segmentation and other actions to improve risk management.

The software will help define techniques for making decisions about each customer as they apply to new accounts.

George Lennox, senior manager of group credit and risk for HSBC, said in a statement: "We undertook a rigorous evaluation of the business rules engine market and identified Strategy Management as the solution that met our criteria. In internal trials we were able to satisfy ourselves that the solution would deliver more capability but with a significant reduction in processing effort compared to its rivals.

"Strategy Management will undoubtedly become an integral part of our business and we expect that it will make more than 50 billion customer decisions annually for us as we roll it out across our global business."

Steven Deare writes for ZDNet Australia