With SAS[R], First Investors To Save Time and Money Through Better Performance.
Lender Plans to Make Better Risk Decisions and More Efficient Collections
CARY, N.C. -- In today's rapidly changing economic landscape, a small finance company like First Investors Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. Group, which specializes in lending to consumers with impaired credit Impaired Credit
The deterioration of a borrower's credit rating.
Any weakening of a company's finances will cause an impairment of credit. Consequently, it results in a reduction of the credit offered by lenders. profiles, needs speed and security to stay competitive. To do so, First Investors selected SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. , the leader in business analytics, to add a new dimension to its credit decision making and marketing while creating a more robust risk-based pricing "Property type" redirects here. For other uses see Property (disambiguation).
Risk-based pricing is a methodology adopted by many lenders in the mortgage and financial services industries. environment.
First Investors needed a better analytical tool to provide an enhanced granularity to its loss forecasting capabilities, which included handling multiple variables and drilling down with greater detail to answer queries.
"With SAS([R]) Analytics, we can more easily evaluate the impact of multiple risk variables on the timing, frequency and severity of loss performance, which will enhance our loss predictions and improve risk-based pricing," said Bennie H. Duck, Chief Financial Officer at First Investors. "In addition, our improved loan risk assessment will drive more competitive loan pricing and better collection strategies. We also plan to use the enhanced modeling to reenergize marketing strategies targeting potential customers."
First Investors selected SAS for its reputation, stable platform, exceptional technical support and documentation, and its compatibility to integrate easily with other software. With SAS, First Investors expects to realize time savings through automation of reports and forecasts.
"SAS is the industry leader in business analytics and an important tool for any lending institution Noun 1. lending institution - a financial institution that makes loans
financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in ," said Duck. "The software can grow with our business by expanding with additional components as our needs dictate. And our employees - programmers and non-programmers - can access and understand the software's easy-to-use interface."
About First Investors Financial Services Group
First Investors Financial Services Group, Inc. through its wholly-owned subsidiaries ("First Investors"), is an independent consumer finance company that originates automobile loans indirectly through relationships with franchised automobile dealers and directly to consumers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The company's indirect lending business operates in 28 states through relationships with hundreds of automobile dealerships. The company's direct lending business provides innovative solutions to consumers who wish to refinance Refinance
1. When a business or person revises their payment schedule for repaying debt.
2. Replacing an older loan with a new loan offering better terms.
When a business refinances they typically extend the maturity date. their existing automobile loan to achieve lower monthly payments and lower overall finance charges. First Investors specializes in providing financing solutions to consumers who typically do not have access to traditional financing sources. In addition to its automobile finance operations The execution of the joint finance mission to provide financial advice and guidance, support of the procurement process, providing pay support, and providing disbursing support.See also financial management. , the company also engages in the purchase of portfolios of automobile loans from other lenders and the servicing of pools of loans for affiliated and non-affiliated investors.
First Investors was founded in 1988 in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation).
Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , by its current President and Chief Executive Officer, Tommy Moore
Tommy Moore of Clearwater was the Democratic Party's nominee for Governor of South Carolina in 2006. . First Investors has more than 40,000 customers and approximately $750 million in managed auto receivables.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. With innovative business applications supported by an enterprise intelligence platform, SAS helps customers at 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([R]).
SAS and all other SAS Institute SAS Institute Inc., headquartered in Cary, North Carolina, USA, has been a major producer of software since it was founded in 1976 by Anthony Barr, James Goodnight, John Sall and Jane Helwig. Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. [R] indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright [c] 2008 SAS Institute Inc. All rights reserved.