Innovative approach to consumer collections improves customer experience while cutting costs and write-offs across the collections life cycle
London, UK, 11 December 2014 - Experian, the global information services company, today announced the wider availability of its end-to-end Collections Management solution across EMEA. Experian Collections Management enables organisations challenged by changing debtor behaviour, demanding compliance requirements, legacy IT systems, and poor data quality to enhance their collections performance and improve profitability.
Experian’s Collections Management addresses the collections challenges facing consumer credit lenders by focusing on four core pillars: Operational Collections, to manage cases from pre-delinquency through early to mid-collections using automation to improve efficiency; Strategic Collections, where powerful segmentation strategies are designed to develop deeper customer insight and increase effectiveness of the collections process; Collections Advanced Analytics and Consulting, where advanced analytics and scoring models can be leveraged to provide key insight for competitive advantage; and Optimising Collections, where overall performance can be improved by applying the ideal treatment strategy across customers, products and channels
Many clients in EMEA are already enjoying the benefits that the end-to-end collections management approach delivers, including OTP Bank in Russia who consolidated several systems for early through to late collections into a single interface that helped to deliver an improvement in the efficiency of late collections by 18 percent. OTP Bank’s Director of Risk Assessment, Fyodor Teslenko, said: “Experian has allowed us to consolidate the whole internal retail collections process. One of the main benefits is the ability to test different collections strategies, determining and implementing the most efficient of them. With the help of such tests, we have increased the performance of early and late collections substantially.”
Charles Butterworth, Managing Director, Experian, EMEA, said: “Today it isn’t enough to treat all customers in collections in the same way. Organisations know this but when you’re hampered by inflexible legacy collections systems it can be difficult to differentiate between customers and treat each appropriately.
“Experian’s Collections Management enables organisations to focus on streamlining the collections process and reducing costs using greater automation, while integrating digital payment channels to improve the customer experience and increase the likelihood of payment.”
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft. In 2014, we were named by Forbes Magazine as one of the ‘World’s Most Innovative Companies’.
We employ approximately 16,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2014, was US$4.8 billion.