HDFC bank, one of India’s premier banks, today announced that it is using neural predictive models from Neural Technologies (Nt) 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”.
About Neural Technologies
Formed in 1990, Neural Technologies (Nt) has built upon its foundation in research, development and consultancy in neural analysis and design, to provide quality products that increase bottom-line returns for its customers around the globe. The company’s principal focus is based on end-to-end risk management for global financial institutions, telecommunications companies and government organisations.
Nt's solutions enable organisations to profile potential and existing customers, to minimize financial risk to their business. They offer comprehensive risk management capability in the areas of fraud, bad debt, customer attrition and collections, from the initiation of service through to collection of payment.
Neural Technologies has its headquarters in the UK, with offices in India, Malaysia the US, and Latin America.
Corporations who have benefited from Nt’s solutions comprise GE Money, ING Slaski, Raiffeisen Bank, Fingroup Credit, Volksbank, HVB Tiriac Bank, Digi, Digitel, Maxis, Sprint Nextel, Cingular Wireless, Telkom SA, Orange, Vivatel, 02, SFR, TDC, Turkcell, Brasil Telecom and VimpelCom.
For more information, visit www.neuralt.com.
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India’s leading housing finance company, HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its over 10 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
For further information please visit www.hdfcbank.com
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