Increasingly powerful analytics are enabling telecommunications carriers to take a highly precise approach to risk management and customer engagement, leveraging data science and machine learning. Telecoms have strategic imperatives to reduce account churn. They must continually assess customers’ ability to pay and adjust their credit exposure and device financing limits. They need to monitor and detect early signs of payment difficulty and take proactive steps to reduce bad debt and balance risk. When accounts become delinquent, the carrier must choose which collection techniques and channels are most likely to succeed with each individual customer — at a personal level. In this interview, FICO Director Ben Werner discusses trends and opportunities to improve collections strategies with analytics and crosschannel communication.
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