FICO® PlacementsPlus® service
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FICO® PlacementsPlus® service

FICO® PlacementsPlus® service is the most comprehensive account placement and management system in the industry. This unique ASP service streamlines the placement and management of contingency accounts within a single user interface. Using the PlacementsPlus service, you can maintain control over the distribution and management of accounts to agencies, attorneys, debt buyers and internal recovery departments.
Key Benefits
  • Minimize charge-offs and increase recoveries
    FICO PlacementsPlus service combines analytic modeling capabilities with workflow management software, operational expertise and the industry-leading communications network to bring you solutions that improve profitability.
  • Increase your visibility into third party operations
    The PlacementsPlus service includes a set of performance reports that gives you an unprecedented view into the activities of the agencies working your accounts. These include batch-track reporting on both summary and comparative levels, as well as reports for agency collection activity, inventory, key benchmarks and financials.
  • Maximize the value of your debt sales
    PlacementsPlus service gives you the means to initiate, execute, monitor and report your debt sales. This functionality provides additional visibility and control over the debt sale process which will help ensure you're able to maximize the value you receive from the sale of your portfolios.
  • Manage recovery from the customer level
    PlacementsPlus service allows you to manage the collection of multiple contingency accounts for a single customer, ensuring that the agency working a particular account has full visibility into the indebtedness of the customer.
Feature Highlights
  • Delivers an end-to-end solution for managing placement of consumer debt
    FICO PlacementsPlus service is a comprehensive service that gives you:
    • Control of the business rules that define account placement
    • Access to a full reporting suite to analyze agency and portfolio performance
    • Improved operational efficiencies through an online system for exception handling
    • The ability to monitor and enforce weekly reconciliations with accounts placed and balances worked by your collection agencies
  • Provides access to sophisticated analytics
    PlacementsPlus service gives you the ability to access the sophisticated analytics available in the Placement Optimizer™ service to determine which agencies are best suited to work which accounts. These agencies can be the traditional third-party agencies, in-house liquidation agencies or even debt buyers when the analytics indicate and the owner determines that the best return will come from transferring the ownership of the asset.
  • Gives business users control of rules management
    With the integration of the industry leading FICO® Blaze Advisor® business rules management system, business users have improved visibility and control over processes such as placements and replacements, distribution recalls, scrubbing of bankrupt and deceased accounts, and commission application. The ability for business users to automate execution of basic day-to-day business rules provides for operation efficiencies, increased performance and lower costs.
  • Provides online agency access through an easy-to-use graphical user interface
    The PlacementsPlus service provides a single interface with agencies through the FICO® network for the placement, management, reporting and exception processing of receivables. Through this network, credit grantors can monitor their agencies' performance and compliance to established service-level agreements, as well as provide the ability to rapidly replace a non-performing agency.

Using FICO PlacementsPlus service, delivered through the ScoreNet network, HBOS has improved the effectiveness of its debt collection department, and has simultaneously realized greater operational efficiency. HBOS achieved a 12% lift in liquidation in the first four months of using PlacementsPlus service, and today the external Debt Collection Agency reconciliation stands at 97.6% by volume and 99.5% by value. Read the HBOS success story.
 

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