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Outperforming expectations starts with a unified set of tools
Collections and recovery (C&R) groups are often last in line for budget, headcount and IT support. Meanwhile, they’re expected to perform in environments of aggressive growth and new impairment and loss mitigation requirements. To succeed, C&R needs a sustainable infrastructure to:
FICO’s Collections and Recovery Ecosystem delivers an unmatched combination of advanced analytics, decision management technology, customer engagement and domain expertise. Key Ecosystem components include:
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.
Within the first year, Garanti Bank achieved significant KPI lift in several areas where they implemented FICO recommendations: restructuring, skip trace, dialer and inbound management. Restructure default rates dropped from 30% to 18%, an...
The promise of digital technology—more efficient operations and more compelling, personalized customer interactions—is transforming huge swaths of the financial services industry. Debt collection—by contrast—feels like it has been standing...
For businesses needing a new collection solution, there used to be one way to install the software: a fully custom soup-to-nuts implementation. While in some situations that’s still the best approach, today there are also other options. Cu...