North America The Data Treatments, Analytics, and Tools You Need to Survive in the Upcoming Debt Collection Tsunami
The global crises that we are currently experiencing is having a significant impact on collections departments where they have to significantly modify their collections strategies, not just for the current situation, but also prepare for the after effect. Before the crisis, companies grouped their collections as follows pre-delinquency, early collections by risk segment, financial difficulties (forbearance / vulnerable) late collections and recovery, legal, debt sale and contingency placement. Now we have to look at all these groups with a second lens of whether or not they have been affected by COVID-19, how behavior within them changes post the crises and what this means from a treatment perspective. Designing strategies for these different groups that are appropriate, transparent in the data and analytic determinates and defendable for the relative reporting of impairment will be a key challenge that several clients are already starting to think about. In this session seasoned FICO industry experts will cover the analytics tool set, decisioning capabilities and approaches that will be necessary to manage operations in a dynamic environment whilst maintaining control of the P&L, Operational execution and respective customer journeys.
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