Managing credit risk can be a challenge, even in the best of circumstances. It becomes especially difficult when complex technology and sensitive data are involved.
By implementing sound risk management strategies, you can save time, money and other resources to, ultimately, prevent serious risks from threatening the health of your portfolio.
There are a number of key strategies you can put in place to protect your organization:
Identifying risks early is the best way to protect your organization’s financial health. To identify risks in their early stages, it’s critical that you understand your customers. With Experian’s Account Monitoring ServiceSM, you can receive alerts and proactively stay on top of negative account performance. In other words, you can anticipate and plan for risks before they actually occur.
Evaluating potential threats is a necessary component of credit-risk management. How do you know if a threat represents a minor hiccup or needs greater attention? How do you avoid spending all your resources manually reviewing accounts?
Account Review AdvantageSM allows you to streamline risk assessment processes by giving you access to the exact information you need quickly and confidently.
The more you know about existing and potential customers, the better you can manage risk. Archive Services allows you to channel the power of historical data to make objective and efficient account-level decisions. Armed with historical customer behavior you can identify accounts that present the highest level of risk as well as those with higher revenue potential.
Learn more about Experian's risk management products. Contact us by completing the form below and a risk management specialist will follow up with you promptly.
Discover how Experian is helping businesses navigate the COVID-19 health crisis.