Thai Military Bank Public Co., Ltd. (TMB) selected the Credit Scoring Solution for Banking of SAS for its End to End Business Intelligence Project with a project value of almost 20 million Baht.
This Project is developed to offer effective and transparent risk management through powerful analytical tools which can support all stakeholders involved in Credit activities in the assessment and monitoring of the portfolio’s risk performance.
“Previously, the credit assessment process was complex manual and slow due to redundant verification of data reliability before executing reports along with operational and security problems,” said Mrs. Fabienne Libert, Senior Vice President, Retail Credit Group, TMB Bank Public Co., Ltd. . “This Project will enhance our operational efficiency and allow us to directly manage credit risks with data models while establishing governance standards data processing effectively at greater speed. Moreover, it creates transparency risk management information for all and one version of the Truth.”
“TMB decided to select SAS for the End to End Business Intelligence Project since October 2009 as SAS solutions can comprehensively cover our requirements, especially end-to-end straight through process of data starting from data extraction until delivery of information to end-users with advanced analytical tools.”
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 delivered within an integrated framework, SAS helps customers at more than 45,000 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
Friday, January 29, 2010
Sunday, January 24, 2010
HSBC VISA PLATINUM AND PREMIER MASTERCARD MEMBERS ENJOY UP TO 12% CASH BACK IN MOMENTS OF JOY AT CENTRAL AND ZEN
HSBC Credit Card is offering a superb shopping privilege to its Visa Platinum and Premier MasterCard members - courtesy of a new ‘Joyful Moments’ promotion – who use their cards at any Central and Zen department store. Members will enjoy up to 12% cash back in the form of 72,000 HSBC Reward points for same-day spending of just 60,000 Baht. The privilege is valid from now until 21 February 2010.
Photo shows Ms. Salinla Seehaphan (left), Senior Vice President, Marketing and Communications, HSBC in Thailand and Ms. Piyawan Leelasompop, Vice President Marketing, Central Department Store Limited, introducing the new shopping promotion.
Photo shows Ms. Salinla Seehaphan (left), Senior Vice President, Marketing and Communications, HSBC in Thailand and Ms. Piyawan Leelasompop, Vice President Marketing, Central Department Store Limited, introducing the new shopping promotion.
Sunday, January 17, 2010
Heartland Payments Systems agree to provide Visa issuers $60 million for data security breach claims
Princeton, NJ and San Francisco, CA, January 8, 2010 - Heartland Payment Systems, one of the nation's largest payments processors, and Visa Inc. today announced a settlement agreement under which issuers of Visa-branded credit and debit cards will have an opportunity to obtain a recovery from Heartland with respect to losses they may have incurred from the 2008 criminal breach of Heartland's payment system environment. Heartland will pay up to $60 million to fund the settlement program, which is subject to certain conditions, including a specified level of participation by U.S. Visa issuers. Visa will present details of the settlement to eligible issuers in the coming days.
"We believe issuers will benefit by participating in this settlement program because it offers an immediate recovery with respect to losses they may have incurred from the Heartland intrusion," said Ellen Richey, chief enterprise risk officer, Visa Inc. "Helping financial institutions mitigate costs after a data security breach has been a long-standing component of Visa's security strategy, along with promoting new security technologies, preventing fraud and leading efforts to secure sensitive data across the entire payment system."
Bob Carr, Heartland's chairman and chief executive officer, stated, "We are pleased to have reached a fair settlement agreement that helps issuers obtain a recovery with respect to losses they may have incurred from the intrusion. At Heartland, we are also committed to helping issuers - as well as all stakeholders in the payment ecosystem - mitigate future risk. We have assumed a leadership position in the development of enhanced data security and fostering the sharing of information."
The Visa/Heartland settlement agreement is contingent upon acceptance by financial institutions representing 80 percent of the eligible issuers' U.S. accounts that Visa considered to have been placed at risk of compromise during the Heartland intrusion. The settlement also includes mutual releases between Heartland and its sponsoring bank acquirers, on the one hand, and Visa on the other.
Heartland will fund up to $59.22 million of the amounts to be made available to Visa and its issuers under the settlement program. Additionally, Visa will credit the full amount of intrusion-related fines it previously imposed and collected from Heartland's sponsoring bank acquirers towards the $60 million maximum funding of the program. The settlement amount represents a significant recovery to Visa issuers for losses they may have suffered from the Heartland data security breach.
All U.S. card issuers who participate in the program will be eligible to receive a portion of the specified recovery. The settlement also includes recovery for international issuers of accounts Visa considered to have been placed at risk of compromise.
Participation in the settlement program supplants any other recoveries that may be available to issuers through Visa and requires accepting issuers to release Heartland, its sponsoring bank acquirers and Visa from any legal and financial liability related to the Heartland intrusion.
Visa will be notifying eligible issuers in the coming days with details about the program and how to participate, and Visa will send eligible issuers their formal offers to participate in the program on January 14, 2010. To facilitate payment, eligible issuers will have until 5:00 pm PT on January 29, 2010 to opt-in to the program before the offer expires.
"We believe issuers will benefit by participating in this settlement program because it offers an immediate recovery with respect to losses they may have incurred from the Heartland intrusion," said Ellen Richey, chief enterprise risk officer, Visa Inc. "Helping financial institutions mitigate costs after a data security breach has been a long-standing component of Visa's security strategy, along with promoting new security technologies, preventing fraud and leading efforts to secure sensitive data across the entire payment system."
Bob Carr, Heartland's chairman and chief executive officer, stated, "We are pleased to have reached a fair settlement agreement that helps issuers obtain a recovery with respect to losses they may have incurred from the intrusion. At Heartland, we are also committed to helping issuers - as well as all stakeholders in the payment ecosystem - mitigate future risk. We have assumed a leadership position in the development of enhanced data security and fostering the sharing of information."
The Visa/Heartland settlement agreement is contingent upon acceptance by financial institutions representing 80 percent of the eligible issuers' U.S. accounts that Visa considered to have been placed at risk of compromise during the Heartland intrusion. The settlement also includes mutual releases between Heartland and its sponsoring bank acquirers, on the one hand, and Visa on the other.
Heartland will fund up to $59.22 million of the amounts to be made available to Visa and its issuers under the settlement program. Additionally, Visa will credit the full amount of intrusion-related fines it previously imposed and collected from Heartland's sponsoring bank acquirers towards the $60 million maximum funding of the program. The settlement amount represents a significant recovery to Visa issuers for losses they may have suffered from the Heartland data security breach.
All U.S. card issuers who participate in the program will be eligible to receive a portion of the specified recovery. The settlement also includes recovery for international issuers of accounts Visa considered to have been placed at risk of compromise.
Participation in the settlement program supplants any other recoveries that may be available to issuers through Visa and requires accepting issuers to release Heartland, its sponsoring bank acquirers and Visa from any legal and financial liability related to the Heartland intrusion.
Visa will be notifying eligible issuers in the coming days with details about the program and how to participate, and Visa will send eligible issuers their formal offers to participate in the program on January 14, 2010. To facilitate payment, eligible issuers will have until 5:00 pm PT on January 29, 2010 to opt-in to the program before the offer expires.
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