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Following on from evaluating the roll rate results, I'm going to look at new FICO data on UK cards and static delinquency levels, accounts remaining at the same level of delinquency. Whilst payment plans can influence results, there are fewer issuers holding delinquency levels for these accounts than in the past. There are several good reasons to target static accoun…

Following last week’s posts about static delinquencies and other delinquency trends, I have had several conversations that lead me to wonder how holistically we are looking to solve some of the more challenging credit management issues. Here are my concerns. Firstly, I have just seen the damage a collections shop that is not ready for IFRS 9 can experience. This has…

In my last blog post, I discussed the importance of learning from your ‘at-bats’ — analyzing every interaction with your customers and using those insights to become a bit better next time at understanding their needs and delivering on your brand promise to them. In this blog post, I’ll keep the baseball analogy but change my perspective from hitting to pitching, and…

Changes in the credit industry are playing havoc with traditional collections strategies and tactics. However efficient and advanced an operation is, it’s being stress-tested by a multitude of factors in ways not seen since the last global recession. Here are some of those factors, and the questions they raise for debt collectors: Consumer demand for credit – if…

This is a guest post from Leslie Parrish, a senior analyst with Aite Group Consumer lenders are investing considerable resources to figure out how best to target prospective borrowers and provide them with the most efficient and enjoyable experience possible. To do this, these lenders reach consumers the moment they have a credit need with the right message, at the r…

Agile methods have transformed software development, and now they’re transforming software implementation as well. Agile methods can dramatically reduce collection software deployment time and cost. Lots of companies will benefit: Startups looking to rapidly stand up a collection capability; incumbents needing an appropriate solution for an acquired portfolio or new…

Last week the Federal Communications Commission (FCC) passed a new declaratory ruling aimed at addressing rising consumer complaints about robocalls. Widely available, low-cost automated technologies have unleashed a flood of these calls. One study says the number of robocalls to US phone numbers soared from 18 billion in 2017 to more than 26 billion in 2018. There…

Every organization that collects delinquent debt is faced with many of the same challenges: collect as much as you can, do it at the lowest possible cost, and do so in a way that is the least intrusive as possible.  It is rare for any debt collection organization to want to significantly expand their staffing.  Often, the goal is to do more with the same, or…

Automotive collections and recovery professionals are under constant pressure to do more—collect more money, be proactive (instead of reactive) when it comes to high-risk accounts, become more operationally efficient, improve customer satisfaction—all while dealing with increasing resource constraints.   Success in this environment requires ingenuity and creat…