An analytically driven approach to collections
With a multitude of communication channels, complex regulatory requirements and limited decisioning options, finding a way to increase collections revenue has become more challenging than ever.
At Experian, we understand the importance of an effective collections strategy – one that can help you realize measurable improvements while focusing resources where they are needed most.
Our Decision Essentials for collections is a centralized decision management platform that enables you to increase collections revenue while improving efficiency. And the best part is that our innovative solution includes the data, software, analytics and guidance to help you:
- Drive responsiveness and increase right-party contact rates
- Build the right strategies and deploy them quickly
- Improve cure rates and reduce bad debt
Learn more about our Decision Essentials for collections by selecting one of the features below.
- Advanced Champion/Challenger testing
Identify a percentage of records to pass through Champion/Challenger strategies. This “test and learn” strategy can be executed in a development or production environment.
- Assisted strategy design
Improve the performance of your decision tree by using our built-in analytical processes (CHAID and CART) in combination with the simulation capability.
- Deployment of multiple scorecards
Our advanced analytical capabilities allow for the deployment of up to 10 scorecards to help you make smarter decisions.
- Desktop strategy design and strategy simulation
These features allows you to simulate the effect of modifying your segmentation criteria within a decision tree and view the results prior to implementation.
- Segmentation using customer contact preference data
By leveraging client data, commercially available third party, or various Experian data assets (such as Mosaic® and TrueTouchSM), you can determine contact preference, assign communications to the appropriate channel, and increase your right-party contact rate.
- Segmentation capabilities for all stages of collections
Implement different decision logic and segmentation for every stage of collections.
- Segmentation for post-charge-off recoveries
The collection process doesn’t end when an account is charged off. Our comprehensive solution allows you to deploy post-charge-off strategies and maximize dollars recovered.
- Derive user-defined decision elements on the fly
Derived data scripts allow you to create new data characteristics based on existing data that may be used in the execution of a strategy.
- Incorporate loss forecasting models into your business strategy performance measures
Include the calculation of Probability of Default, Exposure at Default, Loss Given Default and Expected Loss to derive an expected loss calculation at a loan level. These calculations can be used in strategies to satisfy the use-case requirements of various CCAR and Basel regulations.
- Significant event processing
File processing can be based on monthly billing cycles or driven by a client event or a credit bureau significant event.
- Calculation of reduced settlement amount
Calculate a reduced settlement amount to offer customers and increase the likelihood of collections.
- Access to our Premier AttributesSM for collections set
Utilize Premier Attributes as decision elements within segmentation and models.
- Preconfigured reporting
Leverage our detailed reports to understand how your strategies are performing and identify where adjustments may be needed.