Fractal Analytics And Cranes Software Partner To Launch Predicta

Fractal Analytics and the Analytics Division of Cranes Software International have partnered to develop Predicta, a Credit Risk Management Application for mortgages, credit cards, auto loans and personal loans. A joint IP development agreement has been agreed upon by Fractal and Cranes.

“Predicta provides a much desired analytical workbench for risk analysts. We are quite positive about this partnership with the Analytics Division of Cranes Software and see significant synergies in creating a joint offering in the rapidly expanding global market for credit risk management”, said Nirmal Palaparthi, co-founder and EVP of Fractal Analytics, Singapore.

This partnership leverages Fractal’s experience in the area of credit scoring and risk management and takes advantage of Cranes’ Analytics Division’s strengths in statistical software product development and distribution. The development team would be from Cranes Software and Fractal would bring in its domain expertise. Both parties would contribute IP to develop Predicta and the IP would be jointly owned on a revenue sharing arrangement. Predicta will be co-marketed by Cranes and Fractal.

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“Predicta is very relevant today, 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 partnering with Fractal who have a demonstrated leadership in this space”, said Mohamed Asif, who heads the Banking and Financial Services Practice at the Analytics Division of Cranes Software International.