BMW Financial Services’ credit risk management strategy
Onguard was chosen to help bring structure to the company’s credit risk management policies. A more customer-oriented approach means that customers are allocated a dedicated credit manager and are divided into groups depending on their risk ratings. With Onguard BMW FS runs its credit management department as efficiently and effectively as possible.
BMW Financial Services’ credit risk management strategy is professional and efficient. Initiated in The Netherlands, this Dutch policy has been adopted by the BMW Group, becoming a benchmark in other countries worldwide. In 2008 Hans van Diest won the Credit Management Award for the company’s excellent credit risk management processes. Van Diest: “Improving quality within the BMW Group is a continual process. We have simplified and automated our processes in order to stimulate the sale of our products as well as optimise and improve the quality of our services to BMW and MINI dealers and to our customers.’
“Onguard is able to exchange information with other systems, both import and export, meaning we now have all of the information we need in one system. We expect to be able to achieve even better results in the future by fine tuning the profiles, expanding our use of the queries module and by using more of the additional fields.”