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Toyota Bank to implement Experian’s credit decisions management tool

Experian Decision Analytics, a part of information services provider Experian, has announced that Toyota Bank, a provider of car loans and is owned by Toyota Motor, is planning to automate making credit decisions and carrying out applicant's analysis with an its AcquireSM solution and a car loan generic scorecard.

The decision systems will enable Toyota Bank to process applications in real time in order to quickly assess the risk level of applicants and provide customers with an immediate decision in an efficient and cost-effective way.

The car loan scorecard will enable Toyota Bank to accurately assess the risk of car loan applicants and make quick decisions while identifying optimal customers. Along with AcquireSM, this solution will improve operational efficiency by enabling the automation of manual processes which results in cost reduction.

It will improve decisioning quality through combining application data with comprehensive information from external and internal sources, thus providing a complete profile of every applicant. It will also help to increase profitability by maximizing revenue, reducing referral rates and minimizing risk. AcquireSM is a web-based application processing solution that will allow an organization to implement the solution at a significantly lower cost compared to deploying software.

Dr Olaf Neitzsch, president of Toyota Bank, said: Toyota Bank already has its first five points of sale located in Toyota and Lexus authorized dealerships in Moscow. Launches of 16 points of sales in all Moscow-based authorized dealerships of Toyota and Lexus are planned for 2007 – early 2008. In 2008 Toyota Bank services will be available in Saint-Petersburg as well. Regional markets are part of further development plans. At the moment the bank product line includes car loans for new Toyota and Lexus vehicles.