FICO® Debt Manager™ solution
FICO Debt Manager
Products > Decision Management Applications > FICO® Debt Manager™ solution

FICO® Debt Manager™ solution

FICO Debt Manager 8 helps you manage and respond quickly to necessary collections actions for all stages of the collections and recovery (C&R) lifecycle. While C&R activities have been on the rise, staff and budgets have leveled or even decreased. FICO Debt Manager 8 addresses these challenges with a scalable, powerful, and readily upgradeable system that continually adapts to your business needs and regulatory requirements. You’ll improve efficiency via a real-time, clear view of your customers. FICO adaptive control and analytics capabilities, which are used in our fully integrated FICO decision management solutions, will help you calibrate your solutions to economic conditions and business strategies.

Business Benefits

  • Efficiency—Improved Collector Productivity
    Debt Manager 8 provides a new, intuitive user interface that improves collector performance by making navigation remarkably easier. The interface helps collectors find what they need faster and address the need to quickly train new staff. Additionally, Debt Manager’s event-base design allows the lender’s operations to work in real-time and eliminates the need for “batch processing.”

    Results:
    • 15 – 20 % reduction in early stage delinquency
    • 25 – 30% increase in collector productivity
    • 30 – 50% reduction in training time

 

  • Effectiveness—Improved Collections & Reduced cost
    FICO’s Adaptive Control capability enables your collections managers to model new business strategies, and then test, compare and improve strategies over time. With Adaptive Control, only the strongest, best performing strategies survive. That’s because unlike other champion-challenger technologies, FICO Adaptive Control provides a complete environment to model business policies in a safe, controlled release to production. It also includes simulation capabilities, enabling collections managers to generate “what if” projections—such as predicting the operational impact of proposed strategies.   Debt Manager also includes FICO Collection Scores which further improve the performance of Adaptive Control.

    Results:
    • 15 - 20% reduction in bad debt
    • 30 - 50% reduction in reserves (Customer Level)
    • 20 - 25% reduction in collections resources

 

  • Effectiveness—Improved portfolio performance through Connected Decisions
    Debt Manager enables connected decisions with other FICO applications; which increase business performance by sharing data and decisions across the credit risk lifecycle.   This is possible because Debt Manager 8 shares a common architecture with the rest of FICO’s decision management portfolio. 

    Results:

    • 10% Reduction in First Party Fraud
    • .5%  Reduction in losses

 

  • Responsiveness—Lower Cost of Ownership through modern (SOA) architecture
    With Debt Manager 8, the days of rip-and-replace are over.  Built entirely on a modern services-oriented architecture, the solution consists of well-defined components using standards-based interfaces that can be called as services and quickly used by other application components. This new design also gives lenders control over implementation choices; lowers cost of ownership with easy integration to other applications through web services; makes upgrades more affordable; and allows new FICO enhancements to be deployed online faster.  Debt Manager 8 includes the award-winning FICO™ Blaze Advisor® business rules management system, giving lenders unmatched policy management and score generation capabilities. And since this is a common technology used in all FICO applications, rules can be shared and supported by a single team.  Debt Manager 8 is also a true Multi-Tenant / Multi-Client solution—one instance of the application can securely support multiple portfolios, and separate management of products within a single portfolio. In addition, all portfolios/products can operate in different currencies and languages. With Debt Manager 8 solution’s advanced role-based security, collectors can work across portfolios with appropriate access and authorization control assured.

    Results:

    • 20-30% Reduced interface/integration development time
    • 10-15% Reduction in application support costs
    • 30-40% faster upgrades once on the SOA

 

Scotiabank sees customer relationship opportunities in collections calls

The Canadian-based financial services company wanted to take a holistic approach to managing delinquencies among its 10 million customers in 50 countries. With the implementation of the FICO Debt Manager solution, many collections calls now serve the dual purpose of bringing accounts up to date and strengthening valuable customer relationships. Collectors, who have a comprehensive view of each customer and all their related accounts, work with the customer to agree on a single plan of action.

"This is a business partnership that is empowering us to fully realize our global customer-centric strategy, because the experts involved are not simply software vendors, but experienced financial industry professionals as well."

Brian Bostelmann, Relationship Management Director, Credit Risk and Small Business, International Solutions and Services, Scotiabank

Read the success story

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