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Banks must do more, with less, in a challenging environment
In the pursuit of growth, many banks have increased their acquisition efforts and loosened credit risk policies. As a result, the number of accounts going to collections and the amount of debt entering recovery have both grown, and loss provisioning requirements add incremental pressure.
For many collections and recovery shops, staying effective and efficient is a huge challenge, especially with flat or shrinking headcount. Plus, outdated systems and processes can lead to lower job performance and higher attrition, along with more customer friction.
The FICO Collections and Recovery Ecosystem for Unsecured Lending offers a sophisticated, flexible debt management infrastructure that helps you:
The foundation of FICO’s Collections and Recovery Ecosystem for Unsecured Lending is the seamless integration of our world-class analytics and strategy development tools and robust decision execution environments. This integration facilitates a "learning loop" that empowers business users to quickly understand the performance of their current treatment strategies and to develop, test and deploy refined challenger strategies that will drive more satisfying customer experiences and more profitable business outcomes.
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
Make more profitable customer and account decisions.
FICO TRIAD Community
One direct, efficient and secure desktop connection to creditors, partners, agencies and data sources.
Gives credit grantors unprecedented visibility and control of accounts placed with agencies, attorneys, debt buyers and internal recovery departments.
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 ...
The best way to develop lasting, profitable relationships with your customers is to make them the central focus of your operations. Yet many financial institutions struggle to become more customer-centric, often because their operational f...