FICO® Collections and Recovery Solution for Vehicle Finance

Executive Brief
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Product Sheet

Vehicle finance organizations face tremendous pressures to collect and recover debt. Generic collection strategies are ineffective and result in unacceptably high roll rates and customer dissatisfaction. Infrequent, high-touch contacts are expensive and difficult to scale. Siloed channels produce discordant customer experiences, resulting in lower collections and increased compliance risk. Meanwhile, organizations are expected to cut operating costs, support aggressive growth initiatives (at a time of rising delinquencies), optimize debt collection strategies, immediately respond to unpredictable (and often confusing) regulatory and compliance guidelines, and manage constrained, hard-to-scale resources with high employee turnover. To survive, vehicle finance organizations need market-leading automation and data-driven analytics to navigate today’s hypercompetitive, turbulent collections and recovery environment.
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