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Collections & Recovery
How do you transcend the resource constraints that characterize most debt management operations and build an efficient, data-driven environment for collections and recovery?
FICO can help. Scroll down to learn how.
Strategy Execution
Gain the speed necessary to deploy new treatment strategies in response to changes in customer behavior and portfolio performance and the confidence to know that these strategies will deliver the results you expect.
Proactively remind customers to make payments to reduce collections workload; pass account intelligence to collections system
Streamline the repayment process for delinquent customers with personalized treatments and convenient, self-service payment options.
Recover debt cost-effectively using an optimal and trackable mix of in-house and agency resources.
Augment live agents with intelligent, persistent self-service communication capabilities to improve collection efficacy and agent productivity and engagement.
"By reaching out to customers early and utilizing multiple channels so we can contact them the way they’d like, we’ve dramatically increased customer satisfaction — our net promoter score has gone from 0 to 63, which is a big deal for collections."
Identify and isolate fraudulent accounts hiding in your collections workload that are likely unrecoverable.
Strategy Design
Understand what happened and why; predict what will happen next; prescribe and deploy the best strategy for improving your performance.
Collect and organize all relevant internal customer and performance data and continually evaluate and experiment with new external data.
Leverage emerging analytic capabilities like machine learning and AI to efficiently evaluate raw data and uncover new insights.
Precisely segment risk and propensity to respond with robust, explainable scoring models built on industry-leading data characteristics.
Maximize collection performance, within acceptable customer satisfaction limits and operational constraints, using optimized decisioning strategies.
Accelerate the strategy design and execution cycle and strengthen your competitive position in a rapidly changing environment.
Extend the value of your collections and recovery decisions with FICO’s Decision Management Platform, a comprehensive collection of data science and decision authoring tools integrated within a unified, cloud-native execution environment.
Customer Lifecycle
Every decision that impacts your customers matters. Explore the remaining areas of the customer lifecycle to learn how FICO’s decisioning, analytics, and customer engagement capabilities can help.
Solving your biggest and most complex business problems.
FICO Optimization Community
A highly automated accounts receivable management system to help control costs, boost revenue and stay compliant.
FICO Collections & Recovery Community
Two-way automated voice, text, email and mobile app notifications that are smart, scalable and include a human touch.
Gives credit grantors unprecedented visibility and control of accounts placed with agencies, attorneys, debt buyers and internal recovery departments.
Transforms collection and recovery effectiveness and customer connectivity with easy-to-use analytic tools.
It’s good news that smart organizations collecting and recovering debt are moving away from a singular focus on collecting money and toward a broader view, prioritizing the consumer journey and taking into consideration the total lifetime value of the customer relationship.
That quote, from a collections executive at a large financial institution, perfectly encapsulates the challenge facing debt collection leaders at large. In the face of rising delinquencies and a looming change in the credit cycle, financial institutions are still much more likely to invest in analytics and technology that will generate new revenue and relationships than they are in capabilities that will drive improved debt collection.
FICO® Network provides creditors with a single, secure channel to exchange data with collection agencies, credit bureaus, debt buyers, attorneys, and other vendors. Hosted in the FICO® Analytic Cloud, FICO Network is flexible and ...
Introducing FICO® Network 2.0, offering an enhanced user interface, iron-clad security, reliability, and business continuity. All on the cloud. “The biggest benefit to FICO Network is secure data exchange. There’s no other product that ...