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How much uncollected money are you leaving behind due to less than optimal collection and recovery scoring tools? FICO® Custom Collection & Recovery Models give lenders and collection agencies the ability to manage debt more effectively.
Predictive power
Collection models are designed to predict outcomes based on a wide variety of factors, including promise and payment history, payment timing, contact channel preference and collector notes.
Segmentation
Models are up to four times more accurate in separating good accounts from bad, which means smarter, more informed decisions based on the likelihood of account delinquency and expected collection amounts.
Focus
Collect and recover more by pinpointing the right accounts and the most profitable actions, continually improving results by learning from performance data.
Outdated account management models are replaced with models that are current, valid and effective.
Collection models are updated as needed to reflect current business conditions.
Consumer behavior predictions become the basis for collection decisions.
Collections and recovery improve by focusing on the right accounts and most profitable actions.
Account performance data helps continually improve results.
Time: 11 am UK BST
Collections operations across the globe are being stretched to breaking point. You're dealing with challenges such as ongoing, significant customer demand; payment relief exit strategies; capacity constraints due to lockdowns; working-from-home challenges; second-wave planning or local regulators taking a keen interest in operational resilience.
10AM PDT | 1PM EDT
2020 was already shaping up to be an important year for collections professionals on the legislative and regulatory fronts. With the emergence of the COVID-19 health emergency in March, policy impacts intensified. Get caught up on the latest developments and learn what to expect for the remainder of 2020 and the first half of 2021. Join the discussion led by Washington policy experts, Leah Dempsey, Vice President and Senior Counsel for Federal Advocacy, ACA International, Andrew Madden, Vice President of Government and State Affairs, ACA International and Daniel Nestel, Senior Director of Government Relations, FICO.
11AM PDT | 2PM EDT
Please join industry experts from T-Mobile, Comcast and Cox as we explore Collections and Churn strategies to help you weather the pandemic and beyond.
Traditional affordability assessments are long processes for both customers and employees, as the average telephony assessment takes up to one hour to complete. As customers rush through the calls, they provide self-declared income and spending information — but due to customer bias and an inclination to round-up amounts, these assessments result in inaccurate budgets and unsustainable agreements.
Time: 2:00 pm UK BST
On the back of the COVID-19 pandemic, many organisations face increasing volumes of debt in arrears, and a higher share of financially stressed customers. In early collections, this requires stronger segmentation, focus of manual activities on relevant customers, and a higher degree of automation when treating medium- and low-risk customers. Customers in financial stress require payment plan changes that balance affordability with risk considerations, and most importantly, are sustainable and do not break after a couple of instalments.
Time: 02:00 PM CEST/01:00 UK BST Complimentary Webinar 60 Minutes Looking for an easy way to further increase Financial Crime Compliance effectiveness and efficiency? Join us for this free webinar to hear about the innovations in Siron® Anti-Financial Crime Solutions Release 19 as well as the new Alert & Case Manager (ACM) release — innovations that improve detection, reduce false-positives and speed up case management processes.
It’s estimated that 30 million people in the US alone have one or more debts in collections, and household debt is on the rise. Significant 90-day delinquencies come from credit cards, mortgages (plus associated lines of credit), student l...
Most tax and revenue agencies have strong collection operations, anchored by a large, dedicated staff of collectors supported by laws that allow for streamlined enforcement actions. Outside of tax agencies, it’s not uncommon to find depart...
If any portion of your retail sales depends on facilitation by credit, pay more attention to collections. This backend operation, even if outsourced to a third party, is having an increasing impact on retailer front-end operations and top-...
Telecommunications debt collections have continued to evolve in recent years, relying increasingly on external agencies to provide scalability and diversify their collection strategies. Thousands of agencies compete for the attention of te...