![[South Africa] SA Taxi hails automated lending in the cloud as driver of 25% loan growth](Images/Key Industry Images/Taxi.jpg)
[South Africa] SA Taxi hails automated lending in the cloud as driver of 25% loan 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.”
