OptiCollectTM
Analytics increasingly being used to improve Collection Effectiveness
In these challenging times, collections departments are feeling the heat with rising volumes due to ever increasing risk of the customer base. With tightening credit lines, borrowers aren’t paying off their debt as quickly, which has necessiated institutions and collection agencies to invest more time, effort and money. However despite these investments, collected volume has been declining and is a key cause of concern.
To overcome this, decision makers are increasingly relying on predictive analytics to identify the right customer to be targeted with the right treatment to minimize the roll-rates across aging buckets. Predictive Models helps define the riskiness of different customer segments, which helps the business to fine-tune their collection strategy for differnet segments. Additionally, treatment models can further help improve the collected revenue on individual tretaments by targeting the responsive customers.
LatentView's has used its experience in the Collections to develop a Collections Optimization framework (OptiCollectTM), that helps the Collection managers to “Collect More with Less” and maximize Collection spend ROI.
Pioneering Analytics Methodology to enhance Collection EffectivenessTraditionally, Collection Analytics solutions have either been used to define Risky Segments or Treatment responders. However both these approaches are sub-optimal and end up in making contacts to customers who would anyway not respond or would self-cure.
LatentView has developed a predictive analytics based Collection Optimization framework in its three modules: to determine riskiness of the customer, potential value that can be generated through different treatments, and an optimization function that maximizes the overall potential value generated from all treatments under the constraints specified by the business.
LatentView’s Collection Analytics Roadmap
Partner with LatentView to move up the Analytics Value chain
Based on its experience in the Collections field, LatentView has developed an Analytics roadmap in Collections and partner with them in moving up the analytics value chain to increase overall Collected Value.
Benefits of the Collections Analytics
Potential Improvements
Institutions adopting Predictive Analytics in their collections processes, glean the following benefits
Why Partner with LatentView for Collections?
