Press Releases
Fractal Analytics and Cranes Software form alliance to develop Predicta for retail risk management
Bangalore August 13, 2007: Fractal Analytics, a leading provider of predictive analytics and Cranes Software International Ltd., a global corporation offering scientific and engineering solutions, today announced an alliance to develop Predicta for Retail Risk Management.
Predicta is a sophisticated model and scorecard development application with domain specific knowledge and analytical prowess embedded in it. Predicta would help risk analysts at banks and financial services firms develop custom scorecards and models on their data to enable superior risk management decisions. Scorecards developed with the help of Predicta will enable banks and financial services firms in the areas of objective credit risk assessment, speedy execution of loan approvals and saving of costs at contact point verification.
To develop Predicta, Fractal’s expertise in the domain of credit scoring and risk management along with analytical capabilities will join hands with Cranes Software’s strengths in statistical software product development and distribution. Intellectual property from both sides would be used as a base to develop the application and would be jointly owned on a revenue sharing arrangement.
Predicta provides a much needed analytical workbench for risk analysts. Both companies have significant synergies and expertise to create a joint offering in the rapidly expanding global market for credit risk management. We are extremely positive about our partnership with Cranes Software , said Nirmal Palaparthi, co-founder and Chief Architect of Fractal Analytics, Singapore
Predicta is a relevant product offering, especially considering the requirements of BASEL II accord and the growing need for accurate assessment of credit risk and computing default probabilities. We are quite excited about our partnership with Fractal Analytics, who have a demonstrated leadership in this space , said Mohamed Asif, Head Banking and Financial Services Practice of Cranes Software International Ltd.
Predicta will be developed for products such as mortgages on homes, credit cards, auto loans and personal loans and will cater to banking, financial and telecom services firm. A joint IP Development Agreement has been signed by both the parties.
About Cranes Software International Limited (www.cranessoftware.com):
Cranes Software International Limited is a company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe. The Company's business interests span Products, Productized Solutions, Services and R & D in future technologies.
Today, Cranes Software has its presence in 39 countries across the world and has a 350,000 strong global user base. Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, XID, XIP, Survey ASYST, iCapella, InventX and world-renowned products from reputed principals such as Engineering Technology Associates, Livermore Software Technology Corporation, The Mathworks, Texas Instruments and IBM.
For further information, please contact:
Prashanth Sreedharan
Cranes Software International Limited (CSIL)
Tel.: +91 080 4112 0000 [X 4103]
Fax: +91 080 4123127
E-mail:
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www.cranessoftware.com
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