Five Analytics Every Organization Should Be Using to Drive Their Omni-Channel Collections Strategy

With the profound disruption that collection organizations have been facing, many have become increasingly reliant on using omni-channel communications – email, two-way text, interactive virtual agents, payment portals, and other communication technologies – to supplement their stretched collection teams. 

The scalability of automated communication technologies – and the fact that many consumers prefer not to speak to collection agents about delinquent debt – makes the value of omni-channel communications obvious. But how do you decide which channels to use with which customers? What kind of messaging should you use? How should you time and sequence different communications? And how should you incorporate collection agent outreach with your automated communications? 

This webinar will describe five analytics – from simple to complex – that can significantly improve the success of your omni-channel collection efforts. These examples include:

• Collection scores, which predict which early-stage accounts are most likely to self-cure and which will roll
• Data driven strategies and segmentation to help prioritize accounts for collections
• Action-event modeling to capture customer response to different actions (omni-channel or in-person actions)
• Optimization to drive the assignment of the most relevant contact strategy/path (which can be a combination of in-person and omni channel outreach varying in intensity and tonality) to delinquent accounts in order to maximize collections within cost & resource restrictions
• Developing a system to analytically derive the assignment of payment plans and debt adjustments for distressed accounts

In addition, we’ll discuss analytics to compare channel performance and measure ROI.

Who Should Attend: Collection, digital engagement, customer/member experience, risk, loss forecasting, and other professionals tasked with developing and executing collection strategies.