Our consultants have helped many of the world’s leading banks establish collections and recovery practices that are more efficient, effective and profitable. We can quickly identify the areas where you can rapidly achieve return on investment, and help you establish a roadmap to make your operation best-in-class, including quick wins and medium- to long-term initiatives.
Why FICO Collections & Recoveries Consulting
The FICO Global Business Consulting team provides world-class business consulting across the entire credit lifecycle linked to, and independent of, FICO product offerings.
- Our consultants are all collections and recovery experts who have worked for large blue-chip organizations and held senior positions in this field.
- Our team provides practical advice and solutions based on first-hand experience in all the collections related issues our clients are facing. We have extensive knowledge of all credit products, including credit cards, personal loans, SME, auto loans and home loans.
Key Benefits
- Though leadership from experienced industry experts
Our Collections & Recover team consists of consultants who gained their experience in senior roles with market leaders of your industry – we understand your problems because we have been on your side of the table. Working with the leading banks around the globe, we help market leaders to move their collections organization toward best practice.
- More effective and efficient collections and recovery operations
Combining our industry knowledge with FICO’s leading approach to analytics and decision optimization, we can help you to make your collections and recovery processes more effective and efficient. We help you focus your resources on the accounts where they can make the biggest impact, reducing your operational costs, roll rates and ultimately losses.
- Maximum return on investment
Our team has extensive experience in accelerating and maximizing the return on investment our clients achieve when deploying collections and recovery software like FICO® Debt Manager™ solution, FICO® TRIAD® Customer Manager, FICO® PlacementsPlus® Service or analytics solutions, such as payment/liquidation prediction models, recovery optimization models or debt portfolio (sale) evaluation. Many clients have exceeded their ROI expectations by having business consulting support for the deployment of their new software or analytics capabilities, whether related to account strategy and treatment, contact channel or workflow management.
Features
- Operational Assessments
We conduct detailed and structured reviews of collections and recovery operations. During the review, we assess operational strategies and processes, the effective execution of the agreed upon collection strategies, performance management, work-out and hardship program plans, the use of analytics and technology, available management information, as well as staff and capacity management. As part of the assessment, we document observations in detail, and provide a roadmap of prioritized recommendations. The assessment will identify the actions required to make your collections organization more effective and efficient, reducing both your write-offs and your operational costs.
- Best Practice Consulting
We help you to shape your best practice approach to collections and recoveries. We can help you with improving your collection strategy or the way you use your agencies, optimizing your communication strategy or the way you use your dialer, aligning your management information with your corporate goals or implementing an incentive plan that truly motivates your staff to do the right thing at the right time. We bring the experience and knowledge to turn your organization into a market leader.
- Organizational Development
We can help with the strategic re-alignment of your collections and recovery organization. Whether you centralize your collections organization, establish collections practices for new products or a newly acquired loan portfolio—we can advise on the organizational design, the definition of roles, and on the preparation of collection policies and procedures, tailored to your specific needs and operational goals. Depending on your requirements, our involvement can range from high-level advice to delivery of detailed policies, strategies and roadmaps.