Experian-Scorex, the decision solutions business of global information solutions company Experian, has launched Collect SM, a new collections and debt recovery solution. Collect SM allows financial services organisations to adopt a more strategic and analytical approach to their customer service, collections and debt recovery processes.
As part of the Strategy Management range of solutions, used by more than 600 clients in over 60 countries, Collect SM provides a flexible and automated infrastructure supporting the complete collection process, from pre-delinquency to late collections and write-off. The organisation is able to process its collection cases on a day-to-day basis, supported by sophisticated decisioning that ensures that the actions taken are the most appropriate depending on the customer`s circumstances.
Commenting at the launch of Collect SM, Liam Hand, Director of Credit Operations, Bank of Ireland, said: "The effectiveness of the collection function within a financial organisation can make a significant impact to its overall profitability. It`s important to be able to understand the reasons why a customer is in trouble and then react accordingly. If you are able to make the collections function strategically effective, operationally efficient and customer orientated, you will add significant value, both in terms of profit and customer service."
Steve Denby, UK Managing Director of Experian-Scorex, added: " A variety of pressures, such as market forces, legislation and competition, are forcing change within the collection function, and the processes to collect debts are becoming increasingly sophisticated whilst adapting to that change. Collect SM uses tried and tested decisioning and workflow technologies to great effect and will enable organisations to meet these new challenges.
"Organisations need to deploy advanced methods to ensure their collection departments maximise their performance. By understanding the objectives for the different stages of collections and adopting a strategic approach, an organisation can expect to reduce both losses and costs whilst improving overall customer service."
This press release can be downloaded from http://www.experian-scorex.com or http://press.experian.com
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Experian-Scorex is a global leader in the supply of decision support solutions. Its solutions support billions of customer decisions annually for clients in more than 60 countries. Experian-Scorex solutions bring together predictive analytics, decision support technologies and strategy optimisation to enrich customer data and allow organisations to proactively manage their relationships with their customers.
Used across the full customer life cycle, enterprise-wide decision support solutions enable organisations to increase income, manage and control credit risk and fraud, reduce operational costs and so increase overall profitability. Experian-Scorex works closely with clients across diverse industries, including financial services, telecommunications, retail, leasing, automotive insurance and utilities.
Experian-Scorex solutions and services focus on extracting intelligence from all customer data sources in order to build a comprehensive picture of customer needs and financial stability. This customer level view and the ability to deliver customer level decisioning has proved to be particularly important in retail banking, where a customer may hold multiple products. For over 20 years, Experian-Scorex has provided these solutions to the majority of the world`s largest retail banks to help them manage these complex relationships.
As part of the global Experian organisation, Experian-Scorex has more than 30 years experience of managing bureau data, adding intelligence to that data and delivering scoring solutions. Experian-Scorex maintains connectivity with over 70 credit bureaux worldwide and, with 30 offices around the world, it is uniquely qualified to support local, national, regional and global businesses.
Its global headquarters are in Nottingham, UK, Monaco, and Costa Mesa, CA, USA
For more information, visit the company`s website on www.experian-scorex.com
Experian-Scorex is an Experian company. Experian`s 12,000 people support clients in more than 60 countries and annual sales exceed lb1.3 billion. For more information, visit the company`s website on www.experian.com
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