Allied Bank has entered into an agreement with SAS Institute Inc, the leader in business analytic, to establish an enterprise wide risk framework to meet regulatory requirements such as Basel II, enhance its credit ratings and build up the Bank's consumer portfolio.
"Allied Bank strives to adopt the latest advancements in an ever changing technological environment. In line with our technological upgrade plans, we are delighted to initiate the process of deploying a suite of Risk Management Solutions from one of the leading global firms, SAS Institute Inc," said Mohammad Aftab Manzoor, CEO, Allied Bank.
The solution is a cutting edge analytical tool for risk management, customer segmentation and behavioural scoring to meet the sophisticated data management and reporting requirements under Basel II. In addition to complying with Basel II regulation, banks are looking for ways to also achieve business benefits within a comprehensive risk management programme.
Allied Bank chose a combination of SAS Customer Intelligence and SAS for Enterprise Risk Management solutions as well as SAS Enterprise BI Server. With SAS, the bank will have an enhanced automated reporting system, which will enable it to launch and manage more consumer products in less time and reduce overall costs. The system will help the bank to retain current customers and acquire new ones.
Fareed Vardag, Chief Risk Officer, Allied Bank, said, "SAS has been highly recommended by local and globally located references. It offers a fully integrated solution that houses both risk and consumer solutions driven by extensive analytic," and added, "We, therefore, anticipate a quick return on our investment and an overall low cost of ownership."
Established in 1942, Allied Bank today stands on a solid foundation of over 63 years of its existence having strong equity, assets and deposit base. With a network of 770 branches in over 300 cities and towns providing real-time online banking, Allied Bank offers a full range of retail, commercial and corporate banking services with a focus on service delivery through technology. Allied Bank is leading the way by having the largest network of 504 ATMs in over 125 cities and towns of Pakistan.-PR
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