Reducing Delinquency | FICO Automated Collections Communications

LONDON — March 26, 2019

Highlights:

• Santander Bank Polska used FICO® Customer Communication Services to automate its collections communications
• This has resulted in a 160 percent uplift in automated arrears resolution, with 25 percent of collections cases now resolved without any human involvement
• Delinquency rates decreased by 20 percent in just one quarter
• Santander Bank Polska was recognized in the Debt Management category in the 2018 FICO® Decisions Awards

Santander Bank Polska, formerly Bank Zachodni WBK S.A, has achieved a 160 percent uplift in automated arrears resolution since using FICO® Customer Communication Services to execute multi-channel customer communications. As a result, 25 percent of its collections cases are now resolved without any human involvement, and delinquency rates decreased 20 percent in the first quarter of 2018.

For its achievements, Santander Bank Polska was recognised in the Debt Management category in the 2018 FICO® Decisions Awards.

More information: https://www.fico.com/en/products/fico-customer-communication-services

A long-term user of FICO® Customer Communication Services (CCS) for collections, Santander Bank Polska upgraded its system to deal with customers who had multiple accounts with the bank, and to increase automated self-service for customers seeking to repay debts. FICO carried out extensive upgrades to the existing CCS system, which mean Santander Bank Polska’s customers can now choose from four different automated bank communications channels — and even contact the bank outside call centre working hours. This extended reach and flexibility has led to a 160 percent uplift in automatic arrears resolution for the bank.

“With the new FICO CCS system in place, Santander Bank Polska can reallocate the time and resources spent on standard arrears tasks to help more vulnerable customers and those unable to resolve their financial difficulties,” said Robert Pikuła, head of recoveries at Santander Bank Polska. “This is enabling us to put our customers at the center of our operations and increase their levels of satisfaction.”

Under the new system, more customers are paying before slipping into arrears. In just one quarter, the bank experienced a 20 percent decrease in delinquency. In addition, 98 percent of customers who are assigned to automated strategies use self-service channels, even though they have an option to connect with the call center.

“Many customers’ primary experience with a bank is through its collections department, so the way those interactions are handled is crucial,” said Bruce Curry, vice president for collections consulting at FICO. “What Santander Bank Polska is doing represents an emerging best practice for banks.”

FICO® Customer Communication Services enable lenders to deliver email, voice, text and mobile app notifications that are interactive, smart, scalable and include a human touch, thanks to FICO’s ability to combine automation with analytics. By integrating CCS with FICO® solutions, banks can effectively interact with customers throughout the customer credit lifecycle.

About the FICO Decisions Awards
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2018 judges are:

• Sid Dash, research director at Chartis Research
• Tanya Andreasyan, editor-in-chief, FinTech Futures / Banking Technology
• Anna Milne, editor at Finextra
• Julie Conroy, research director for Aite Group’s Retail Banking practice
• Andras Cser, principal analyst - security and risk professionals at Forrester
• Mon Pernia, head of consumer collections, Globe Telecom (2017 winner)
• John Rymer, principal analyst - application development & delivery professionals at Forrester

The winners of the FICO Decisions Awards will be spotlighted at FICO® World 2019, the Decisions Conference, November 4-7 in New York City.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 190 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at https://www.fico.com

FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.

Contacts:
George Hood for FICO
Catalysis
+44 (0)20 7759 2036
fico@catalysis.co.uk