[South Africa] SA Taxi adopts FICO’s cloud-based solutions to drive lending growth

SA Taxi, a financier of over 10 percent of South Africa’s minibus taxi fleet – the nation’s most affordable public transport used by 15 million people daily – has introduced FICO’s cloud-based decision management solution to drive lending growth of 25 percent. The FICO® Blaze Advisor® Decision Rules Management System has also reduced decision time on applications from two hours down to 10 minutes, while improving controls, capturing rules and creating an audit trail.

Rapid growth had meant the company’s manual processing system was becoming overwhelmed – with a lack of consistent and timely decisions adversely affecting business growth.

“When credit changes were required, they were simply added to the queue with the rest of our IT changes – which always had a higher priority,” said Itumeleng Nomlomo, senior credit analyst at SA Taxi. “This left the business with no option but to resort to manual decisioning, which really constrained our agility and created a number of issues such as inconsistent credit decisions.”

SA Taxi implemented FICO’s Blaze Advisor solution to integrate automated decision-making into its origination process. The decision management solution ensured reliable and consistent credit decisions that were in line with its strategy and business rules. Its cloud-based application lifted the infrastructure burden being placed on the business, which had become considerable. And its flexibility allowed SA Taxi’s business managers to configure rules without development/technical support from FICO, as and when its strategy changed.

“SA Taxi has embraced the power of a cloud deployed solution and reaped the rewards through incredible improvements in agility and efficiency,” said Michelle Beetar, managing director for sub-Saharan Africa at FICO.  “By automating the decisioning element, the team has been able to spend more time on strategy, analytics and enhancing the current process.”

For its achievements, SA Taxi won a 2019 FICO® Decisions Award for Cloud Deployment.

“SA Taxi has overcome the challenge of translating what seems to be a simple idea into a workable solution,” said Denise Sleem, functional specialist Afrocentric Technologies, one of the FICO Decisions Awards judges. “SA Taxi has really impressed by building a flexible solution to support the growth needs of their business and their clients through their digital transformation project.”

www.sataxi.co.za

www.fico.com

[South Africa] SilverBridge bets on cloud to bolster insurance uptake and experience

With more than two decades’ experience in the insurance market, SilverBridge has continually evolved to deliver on market requirements. With the significant investment by global cloud providers in the country, the organization is well positioned to continue doing so.

“The company has always built specialized solutions for insurers and delivered a unique set of services to its customers. Historically, this has seen our policy administration solution, Exergy being deployed on-premise using customer infrastructure,” says Lee Kuyper, COO at SilverBridge.

However, with the cloud becoming a strategic priority for many organizations, the groundwork the organisation has done with its partnership with Microsoft over the years is positioning it strongly for the next phase of its journey.

“This has seen SilverBridge working closely with Microsoft to re-architect our solutions for the cloud. Three years ago, SilverBridge moved its first customer to the Microsoft Azure cloud. The timing was opportune as this was the same time that Microsoft was changing their business model to a cloud consumption business. Since then, Microsoft has invested heavily a local data centre, which together with their focus on security and compliance, has allayed any concerns financial services providers may have when migrating to a cloud environment. With Microsoft as a secure and available platform, SilverBridge is highlighting the ability of the cloud to provide insurers with a more cost-effective, secure, and powerful alternative to traditional hosted solutions.”

Subsequently, as a Microsoft Managed Partner, SilverBridge has continued to work closely with the organisation and has resulted in Exergy becoming a Microsoft Prioritised Co-Sell Ready solution for the Middle East and Africa region. This means that Microsoft will incentivise its own sales teams to sell the Exergy solution.

“We are excited with these partnership developments, with Microsoft backing SilverBridge as a leading solutions provider in the insurance industry. This puts us in a great position to assist our clients in getting value from the cloud in their businesses. SilverBridge is in a position to continue, with Microsoft, to bring solutions to the insurance industry which not only benefit from SilverBridge’s industry specific experience and expertise, but also Microsoft’s leading technology,” concludes Kuyper.

www.silverbridge.co.za