Experian drives collections for Hitachi Capital

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Experian drives collections for Hitachi Capital
Experian's Collections & Recoveries service used to enhance customer interactions

Nottingham, UK, 13 November 2008 – Experian®, the global information services company, today announced that Hitachi Capital Consumer Finance has selected core components from its new Collections & Recoveries debt management suite to enable more efficient and effective collection of delinquent and high-risk debt.

To make informed decisions in 'real time' on customers who have defaulted on payments, Hitachi Capital will use Experian's Collection Information Service and Collections Triggers. The combination of these services will enable Hitachi Capital to proactively manage customers entering into the collections cycle.

Experian's Collection Information Service provides Hitachi Capital with an accurate, up to date and complete credit history on debtors to enhance decision-making. Collections Triggers provides regular updates to Hitachi Capital's customer management system to alert the company to improvements in a customer's ability to pay or changes in contact information for those customers that have previously not had the funds to pay a debt.

Andrew Davies, Head of Risk at Hitachi Capital Consumer Finance, commented: "Through extensive trials, we are more than satisfied that the elements of Experian's Collections & Recoveries suite we have implemented will allow us to engage in intelligent, structured and appropriate interactions with customers. By obtaining a complete view of each customer's individual circumstances, we have seen immediate improvements in the quality of the conversations our staff are having with customers and are also able to assist those experiencing difficulties with targeted payment strategies designed specifically for them."

Jonathan Westley, Collections Product Director at Experian, said: "Experian's work with Hitachi demonstrates the scope, scale and flexibility of Experian's Collections & Recoveries service. The elements that Hitachi has selected create a holistic view of the customer that takes into consideration their account with Hitachi, as well as additional external sources of information, to form a complete customer profile and provide insight into their ability to pay."

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