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For 60 years, FICO has worked with a broad variety of credit issuers building best practices in the recovery of debt. One area of critical importance is the outsourcing of debt to third parties.
Worldwide, more than 40% of credit-issuing financial institutions outsource some or all of their collection and recovery activity. Third parties recover more than $50 billion every year in the US alone, typically working with what is frequently the most difficult-to-collect debt.
We recently sat down with FICO Senior Technology Consultant Stephanie McFarland, who focuses exclusively on best practices in agency placement. Prior to this, Stephanie held several roles at Sprint, including Senior Manager of Recovery Operations.