News release

 

Contacts

Anna Moseley or Rachel Hodgson

LEWIS PR

Tel: 020 7802 2626

Email: annam@lewispr.com / rachelh@lewispr.com

 

EXPERIAN LAUNCHES INTELLIGENT COLLECTIONS TO EASE DEBT RECOVERY BURDEN

 

Nottingham, UK, 22 May 2008 – Experian®, the global information services company, launched today its Collections Information Service (CIS) to improve debt recovery by enabling organisations to take action at the most appropriate time to secure payment.  Providing access to the most up-to-date information, the web-based system brings greater insight to the way in which consumers are treated during the collections process. 

 

CIS enables collectors to access Experian’s CAIS data showing an individual’s debt on a real-time basis while they are in contact with the customer.  It includes an accurate evaluation of the customer’s circumstances to suggest the best course of action for customers who are in arrears.  Supported by CIS’s sophisticated scores and analytics, users access the most up-to-date customer information and analysis via alerts on spending or borrowing activity across the board.

 

CIS is accessed via a single click-through to an Experian web service and users are able to personalise the system, choosing preferred actions such as taking payments, restructuring the debt or moving to litigation, with supporting prompts or scripts.   Furthermore, users also have access to a unique case study section that contains information on debt across different accounts held on Experian’s extensive credit bureau. 

 

“No single debtor is the same and CIS’s innovative approach allows collectors to focus their time and energy following up on the right debts using the right approach,” said Gavin Snell, General Manager at Experian.  “Previously, collections had a far more limited view of a consumer’s debt profile and recent spending habits.  The launch of CIS solves this major challenge.”

 

“CIS can increase success rates and inject intelligence into any system, without being dependent on having existing IT resources.  Initial feedback from our clients shows that CIS will make a real difference to helping lenders make the best decisions for both themselves and consumers in today’s financial climate.”

 

ENDS

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