2010-07-23 16:57:03 -
BRIDGEND, WALES -- (Marketwire) -- 07/23/10 -- Financial services consultancy, Euristix, has been contracted by specialist retail and consumer finance provider, Buy As You View :
( BAYV :
), to provide enhanced risk analysis and management for the business.
Buy As You View is a "Buy Now Pay Later" company and its customers pay weekly :
for TVs and other electrical goods, as well as home furnishings via a coin-meter within their home.
Euristix Partner, Vincent Bordes, says:
"Buy As You View is a forward-thinking specialist lender that wants access to a best-practice risk management framework to help drive growth and keep pace with market and regulatory change. Collaborating with Euristix provides this capability and is a great example of how we can deliver the best value by removing our client's need to invest in an expensive internal team by working together with us in a true partnership."
Euristix has designed a suite of Management Information packs to help monitor and control the quality of the BAYV loan portfolio each month and embed a strong governance and risk culture within the organisation. This ongoing risk monitoring occurs both at a loan portfolio and segmented level ie. customer demographics, product type, region, to give true insight into the key drivers of risk performance.
This robust monitoring process has enabled BAYV to better understand and interrogate the risk profile of its loan book and has helped strengthen the company's relationship with its funders.
Euristix is also helping BAYV to strengthen its risk analysis. This involves the construction of bespoke behavioural scoring models for existing BAYV customers, which when fully embedded in the business, will improve targeting and risk assessment of existing customers to drive the secondary sales.
Buy As You View Risk Director, Tony Morris, said: "Maintaining best in class risk management is vital for retaining a competitive edge in this dynamic lending market place. We could see from our core metrics that the quality of our loan book was good and our decision making sound. Harnessing the experience of a trusted external partner, Euristix, has helped us better interrogate our data to maximise our return."
NOTES TO EDITOR:
About Euristix
Euristix is a financial services consultancy company dedicated to the generation of material value through the application of advanced analytics and practitioner experience. Euristix has the following three business lines: Outsourcing, Consulting and Mortgage Services. These allow it to offer comprehensive risk management services that include Risk MI design and production, Risk Modeling and Forecasting, Scorecard building and maintenance, Portfolio valuation, due diligence and management, Collections & Recoveries optimisation and turnaround, Fraud Management & Prevention, and Debt Sale. To find out more about Euristix Limited visit www.euristix.com :
.
BAYV is a retail and consumer finance company, selling a range of electrical goods and furniture for the home. It provides a coinmeter repayment and credit facility for a personal, convenient and manageable way to finance and plan purchases. Products are bought on a hire-purchase weekly-payment basis with no deposit and no credit checks.
BAYV strongly supports responsible lending and treating customers fairly wanting to enable its customers to make purchases for their homes without creating additional financial problems. BAYV is a forward thinking customer-oriented company with ambitious plans to dominate the sector and become a significant player in the retail and consumer finance market in the UK through controlled profitable growth.
Contacts:
Golley Slater PR
Emma Powell
029 2038 8621
epowell@golleyslater.co.uk :
Golley Slater PR
Jenny Lockyer
029 2038 8621
jlockyer@golleyslater.co.uk :
