Cranes Software partners with Fractal Analytics

Cranes Software International today informed BSE that it has partnered with Fractal Analytics, a leading provider of predictive analytics to develop Predicta, a retail 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.

This partnership leverages Fractal's expertise and 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.

Targeting the global market, Predicta would be primarily marketed by Cranes and Fractal and would look at leveraging the sales with its existing customers.

"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.