Organization reaps time savings with new scoring system
CARY, N.C.--To save time and improve accuracy, Prestige Financial Services Inc., a premier provider of consumer financing solutions for automobile dealerships, selected SAS, the leader in business analytics software and services, to revamp its internal credit scorecard program.
“Our biggest challenge was the excessive amount of time spent associated with our manual internal credit scorecard creation,” said Steven Warnick, Prestige’s Vice President of Risk. “And we of course are always looking for ways to improve both the predictiveness of our modeling as well as the accuracy of our reporting.”
With SAS® Enterprise Miner(TM), Prestige has enhanced the data mining process to create highly accurate predictive and descriptive models based on large volumes of data from across the enterprise. Paired with SAS Analytics Pro, Prestige can better access, manipulate, analyze and present information including accessing the data from virtually any source.
“We anticipate a 210-hour time savings with each update of our credit scorecard. We also expect to roll out behavioral scorecards in 2012,” said Warnick. “Combined, we expect the total time savings to equate to roughly $25,000 annually, and predict a reduction in delinquency and default rates. With SAS, we have the confidence and precise analytics to test lines of business previously not considered.”
About Prestige Financial Services Inc.
Prestige is a premier provider of consumer financing solutions for automobile dealerships in 25 states. Founded in 1994 as an affiliate of The Larry H. Miller Group of Companies – the nation’s 10th-largest auto retailer – Prestige employs best-in-class professionals to service a wide range of borrower types, and is recognized throughout the industry for its innovative lending programs.
About SAS
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 50,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®. SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2011 SAS Institute Inc. All rights reserved.
11/14/11
