Overview

Debt management has become more complex in recent years. Organizations across industries—financial services, utilities and even government agencies—struggle with balancing the need to reduce costs while improving collection results. Many organizations are finding success through modernization. Leveraging systems that support data-driven decisions, integrate a holistic customer view and allow for more sophisticated communication strategies, these organizations are able to move beyond the resource drain of manual treatments and reactive tactics. And are seeing improved results at reduced cost—along with higher customer satisfaction.

For Industries: 
Agencies
Overview

Client: Probate estate management specialists Phillips & Cohen Associates has offices in the United States, Canada, the United Kingdom and Australia, with plans for additional international expansion.

Challenge: Legacy software systems weren’t as intuitive, flexible and scalable as needed, making them unable to accommodate the firm’s rapid growth.

Solution: FICO® Debt Manager™ Solution

Results: Phillips & Cohen now uses an estate collections solution that adapts to interpret growing amounts of available probate information, is easy to use and facilitates compassionate interactions with clients and consumers.

For Industries: 
Utilities & Energy
Overview

Client: Thames Water Utilities Limited, the UK’s largest water and sewerage company

Challenge: Unable to reduce delinquency rates with a “one size fits all” collections approach

Solution: FICO® Debt Manager™ 9 and FICO® Customer Communication Services

Results: Reduced bad debt charge by nearly 14% in the first seven months using the FICO solution

For Industries: 
Government
Overview

Client: The Central Collection Unit (CCU) for the State of Maryland is responsible for collecting delinquent debt owed to state agencies.

Challenge: The CCU needed to replace a 30-year-old collections platform that was limiting growth, and take advantage of advanced technology to improve the collections experience for consumers by providing multi-channel self-serve options for repayment.

Solution: FICO® Debt Manager™ solution

Results: A configurable system that works in real time and integrates with other technologies to provide automated, convenient payment options for consumers while increasing collections revenue.

For Industries: 
Capital Markets
Overview

Client: Cabot Credit Management, headquartered in Kent, England, provides debt purchasing, contingency collections, business outsourcing and litigation services. 

Challenge: Cabot needed a single debt management solution so it could streamline operations following a three-company merger. 

Solution: FICO® Debt Manager™ solution 

Results: Cabot implemented the debt management solution in six months and now has more efficient internal processes that drive increased business and higher customer satisfaction. 

For Industries: 
Government
Overview

Every national, state and local government agency works ultimately for its citizenry, carrying responsibility for the best interests of every constituent. Today that responsibility is further complicated by several factors — most notably, increasing government debt and risk to homeland security. To meet these challenges, government agencies urgently need technology that will make the best possible decisions — hundreds of thousands of ongoing critical decisions across a multitude of operations. That’s why now is the time that agencies at all levels need to take analytic technology seriously, and to prioritize investments in this area. In fact, analyst firm IDC predicts that big data analytics sales in federal and central government will exceed $10 billion by 2019.1 Agencies also need to understand why FICO is their best resource for analytic technology support. 

For Industries: 
Banking
Overview

A provider of diversified financial services since 1889, Trustmark has broadened its customer base over the years by expanding its product line as well as the services it provides. It remains focused on the evolving role of technology in meeting its goals, keeping a superior customer experience as a top priority.

For Industries: 
Utilities & Energy, Banking
Overview

Rising Egyptian demand for credit and government encouragement for more private sector lending are creating opportunities for banks and other credit grantors to increase their customer base, grow portfolios and generate more profit. To help creditors expand lending while controlling risk, I-Score is providing a fast-track to originations best practices, including product-specific risk scoring and rules-driven application processing. Its hosted origination services, offered in partnership with FICO, comply with Egyptian regulations, reflect local market conditions and fit individual lender business requirements — right out of the box.

Overview

Outsmarting the competition with optimization 

Banks have become increasingly competitive with pricing to protect their market share. Unfortunately, these pricing strategies often lead to reduced margins and higher risk. The key is to find a good balance between high profitability and low risk. This in-depth case study details how Česká Spořitelna Bank, the largest bank in the Czech Republic has revolutionized its approach to customer offers by applying optimization to its decision strategies. This has resulted in raising not only profits and margins, but also customer satisfaction and uptake levels.

Česká was also awarded a Decision Management Award in 2015 based on its successful use of optimization. To learn more about why they were selected, download the 2-page award version of the case study.

For Industries: 
Banking
Overview

A leading private Mexican banking company and premier card provider, Banco Invex acquired a large credit card portfolio and was experiencing increased organic growth in late 2014. The bank immediately recognized the need for a flexible, scalable system for its growing collection business.

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