Providing unique insight into a customer s default payment behaviour

Transcription

1 Providing unique insight into a customer s default payment behaviour

2 Equifax Recovery Insights is our new suite of 50 characteristics and two scores for the debt recovery and collections market, built from post-default payments data. Equifax Recovery Insights provides unique insight into a customer s post-default payment behaviour. Predictive analytics enable better targeting of resources and more tailored debtor contact strategies... The Analytical Advantage The future of UK debt collection and recovery in the digital age, Marketforce Business Media Ltd. EQUIFAX RECOVERY INSIGHTS

3 Equifax Recovery Insights characteristics and scores The characteristics, created and held at the person level, are broadly represented through four groups: Payment Frequency Payment Trends Debt Size Payment Stability The two new powerful scores provide advanced insight into: Propensity to Pay Amount to Recover Benefits Equifax Recovery Insights enables you to gain a deeper understanding of your customers post-default payment behaviour. The recovery insights characteristics can be used within collections strategies; and by combining the two scores, you can quickly identify and target key segments with appropriate collection treatments. You can: Optimise collections resources Maximise recovery strategies Help deal fairly with customers in arrears or default, and meet regulatory requirements EQUIFAX RECOVERY INSIGHTS

4 ACHIEVE BETTER OUTCOMES WITH EQUIFAX RECOVERY INSIGHTS OPTIMISE RESOURCES MAXIMISE RECOVERY TREAT CUSTOMERS FAIRLY READ MORE...

5 Equifax Recovery Insights has been designed to help you maximise your collections and recoveries performance. By combining the characteristics with other Equifax data, we ve developed new scores which provide insight into a customer s propensity to pay and the amount to recover. These scores can be deployed quickly and easily within a collections or recoveries strategy. Optimise resources Improve customer profiling and segmentation Build a clear picture of your indebted customers Segment those that can or can t pay Queue prioritisation Manage those accounts likely to continue paying with no intervention Maximise recovery strategies Optimise collections strategies and treatment of accounts Verify how much and how frequently the debtor is paying off other debt Create the most appropriate payment plan offer amounts Treat customers fairly Help deal fairly with those customers in arrears or in default and meet regulatory requirements Gain a deeper understanding of your customers post-default payment behaviour For more information on Equifax Recovery Insights, please contact your Account Manager, call or us at ukmarketing@equifax.com Equifax Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Equifax Limited is authorised and regulated by the Financial Conduct Authority.

6 ALMOST 60% ARE USING ANALYTICS (OR PLAN TO DO SO IN THE NEXT 12 MONTHS) TO SEGMENT DEBTORS AND TAILOR THEIR COLLECTION APPROACHES The Analytical Advantage The future of UK debt collection and recovery in the Digital Age, Marketforce Business Media Ltd READ MORE...

7 Equifax Recovery Insights is an exciting, innovative product for the debt recovery and collections markets. It has been designed to help you maximise your collections and recoveries performance. In August 2013, FICO and Marketforce surveyed over 180 executives with responsibility for debt collection and recovery. They came from a variety of sectors, including financial services, utility companies, telecoms providers, public sector organisations and debt collection agencies. The respondents of this survey recognised the power of predictive analytics to fine-tune their collections and recoveries strategies and to deliver a customised approach to recoveries. The results highlight that nearly 60% use analytics or are planning to do so to better segment and tailor their collections strategies. Equifax Recovery Insights has been designed to help your organisation do just that. Through the use of unique post default data, it enables you to maximise your recoveries strategies and target key segments with appropriate collection treatments. These scores can be deployed quickly and easily within a collections or recoveries strategy to maximise returns, optimise resources and maximise debt recovery. For more information on Equifax Recovery Insights, please contact your Account Manager, call or us at ukmarketing@equifax.com Equifax Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Equifax Limited is authorised and regulated by the Financial Conduct Authority.

8 Accurate and reliable Unique use of post-default data Equifax Recovery Insights characteristics deliver uplift in the predictive power of the Propensity to Pay score Comprehensive All aspects of post-default payment behaviours Payment frequency Payment amounts, trends and stability Post-default payments data Actionable insights Characteristics and scores can be used within strategies to optimise treatment of accounts in collections Targeted Enables enhanced segmentation of customers, together with the ability to rank, based on propensity to pay and amount to recover For more information on Equifax Recovery Insights, please contact your Account Manager, call or us at Equifax Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Equifax Limited is authorised and regulated by the Financial Conduct Authority.

9 Equifax Recovery Insights allows you to better assess the collection potential of your customers. A deeper understanding of your customers post-default behaviour. For more information on Equifax Recovery Insights, please contact your Account Manager or us at ukmarketing@equifax.com Equifax Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Equifax Limited is authorised and regulated by the Financial Conduct Authority.