- Qarar better positioned to serve the changing needs of Customers
- Strategic combination expected to deliver greater synergy between both companies
- Operational Efficiencies to dramatically accelerate Qarar’s strategy for regional growth in analytics and decisioning solutions.
- Provide ability to expand Industry and regional footprint
The Saudi Credit Bureau (SIMAH), the largest credit reporting company in the region, announces that it has fully acquired Qarar Consulting LLC, a leading advanced analytics and decisioning service provider, creating the first fully bureau linked-analytics company in the region, with a complete local spread of resource from Business Development, Operations, Pre-sales, Data Scientists and Consultants. Qarar is the only analytics advisory company with access to the large volume of local consumer credit data.
The transaction highlights SIMAH’s continued commitment to progressing advanced analytics services in the region and the confidence it shares in the long term outlook for the company.
Established in 2013, Qarar has become a leading provider of advanced analytics, decisioning solutions and credit management advisory related services across the GCC markets. Qarar works with both private and public sector clients across the region to deliver outcomes that support predictive modelling, Big Data analytics, automated decisioning and complex consumer banking issues across the customer lifecycle, from acquisition through to retention and recovery.
Qarar has a team of expert international consultants and data scientists, and established partnerships with International analytics providers such as FICO and Principa. Head quartered in Dubai, Qarar advises the largest global and local clients, with clients in Saudi Arabia, UAE, Kuwait, Lebanon and Pakistan, spanning consumer banks, non-bank financial institutions, Telecoms, government and credit bureaus. In recent years it has developed multiple consumer based predictive models for cross sell, risk management and recovery purposes, taking into account immediate market and regulatory requirements, and has pioneered the integration of Credit Bureau Big Data into the banking environment.
SIMAH will support Qarar to develop the business, both organically by further increasing market share through offering joint innovative new services in the Kingdom of Saudi Arabia and regional markets, and also by strategic acquisitions in what remains an emerging industry.
“ There is a growing demand in the region for analytics that generate real and reliable value from data” said Nabil Al Mubarak, CEO, SIMAH. “With this acquisition, we are able to expand advanced, sophisticated, analytics and modelling services into the region, and foster local skills and knowledge in this ever growing industry”
Zaid Kamhawi, CEO of Qarar said:
For many of our clients, moving towards data-driven decisioning have become a key corporate objective and an important driver of growth and customer satisfaction. With this transaction the Qarar team has strengthened its focus on bringing the latest analytics tools, skills and techniques to its customers” said Zaid Kamhawi. “Clients have trusted us with helping them make more informed and accurate decisions through analytics and automated decisioning, and we are working on a new era of innovation and ultimate market leadership”
Source: Saudi Credit Bureau (SIMAH)