Collection Agencies
Digitally powered, customer-centric debt collection.
Overview
Reach more consumers with fewer agents using digital, interactive communication
Over 85% of customers are not only using digital communications, including voice, text, email, mobile apps, interactive voice response (IVR), online portals, virtual and human agents, they expect to use their preferred channels with everyone do they business. It’s what they expect when communicating about a delinquent debt. Intelligent, digital communications give collection agencies the ability to connect with more consumers with fewer agents and less cost.
Whether a customer simply forgot to pay a bill or was chronically delinquent due to financial hardship, we treated them the same. We now analyze customer segmentation data, identify different groups of customers and work out the best ways for handling them.
90%
Contacts handled through automation
79%
Contacts resulting in payment or promise
93%
Kept promise rate, up from 5%
6%
Increase in response using omnichannel outreach
Case Study
Thames Water reduces bad debt by understanding customers better and tailoring communications
Thames Water needed to improve collections processes and reduce bad debts by better understanding its customers.
Case Study
Related products
Learn more about how FICO solutions can drive better decisions and better results for your customers and your organization.
FICO® Customer Communication Services
Digital communication for origination and onboarding, fraud management, and debt collection.
FICO® Debt Manager™
Boost collection revenue and capability — compliantly.
FICO® Collection Score
Accurately predict future delinquency of existing collection accounts – allowing you to make more informed, profitable decisions.
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From the FICO Blog
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Reach more consumers with fewer agents.
Resolve more debt and deliver a better journey with digitally empowered, interactive communication.