Financial services giant using data analytics software to help process credit applications

Banking group HSBC is rolling out technology across the globe to improve decision making processes when giving customers credit.

The financial services giant has signed a contract with data analytics firm Experian and will use the firm's software to improve credit application processing.

The Strategy Management software will be used by the bank to apply scoring models and judge the risk associated with lending money to each individual.

HSBC will deploy the rules engine software in 22 countries before extending it across its global operations. It expects to make more than 50 billion customer lending decisions a year using the Experian-Scorex technology.

'As one of the world's leading financial organisations, it is important to us that we make use of leading edge decision support technology,' said George Lennox, senior manager, group credit and risk at HSBC.

The technology will also help HSBC identify the value of each customer and better tailor financial services packages for them.