SIMAH Scoring is a set of decision models that help lenders in granting consumer credit. These techniques decide who will get credit, how much credit they should get, and what strategies will enhance the profitability and the risk in credit lending.
Launched in August 2013, SIMAH Scoring predicts the likelihood or probability of a “bad credit” as defined by the member, by automatically identifying “very good” and “very bad” applicants and reducing the time spent on reviewing them.
SIMAH credit scoring is a dynamic model which is based on information of individuals’ past and present credit history and “learns” by utilizing the customer’s historical credit data.
The SIMAH Score is calculated without bias and is a fair and consistent benchmark to measure the credit worthiness and lending risk to an individual.
Financial institutions in the Saudi market used to have V1.0 and V2.0. SIMAH introduced its score V3.0 to the local market then V4.0 to both local and GCC markets. SIMAH Scoring offers a new scoring mechanism which incorporates important credit factors that present unique and enhanced value to GCC lenders and creditors
Today, the SIMAH Scoring is being used by banks, finance companies, telecoms, insurance, real estate and government sector companies to help them stay on top of consumer credit health and mitigate risk.