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A good place to see how collections impacts competitiveness is the 31-day “time bomb” under IFRS 9 in the financial services industry. To prevent accounts from rolling to Stage 2, and with its requirement for lifetime expected credit loss impairment, some creditors are looking to accelerate collections by assigning more accounts to external collection agencies.
There’s concern, however, about increased exposure to other compliance risks, since creditors are responsible for ensuring third parties treat consumers fairly and adhere to applicable laws and regulations.
Increased placements is a good thing for collection agencies, of course. Instead of throwing bodies at this opportunity, smart organizations are using analytics-driven strategies and automated processes to focus their resources on accounts where they can make the biggest impact in the shortest time, not only to prevent 31-day delinquencies but to collect and recover more.
This course is aimed at developers and rule writers. The course covers rule authoring using both interactive builder and advanced builder where participants will learn how to write using Structured Rule Language (SRL); project testing and deployment.
Time: 1pm EST / 10am PST
Python is one of the most popular modeling languages in the world, and yet more than half of the time, developers fail to deliver their advanced analytics to business end-users. The main barrier is the lack of a deployment platform that converts models into user-friendly applications. Instead of having to continue running these models yourself or relying on a patchwork of open-source platforms, we’d like to (re-)introduce you to an enterprise-ready solution that fully integrates with Python to convert your analytics into a useable, interactable form: FICO Xpress Insight.
Time: 12pm EST / 9am PST
This two-part course provides a foundation for developing a Blaze Advisor system-enabled application. Part 1 is for both Business Analysts and Developers who maintain rules in the RMA. Part 2 is for Developers who need to understand the SRL generated by the RMA. Students are introduced to rule authoring, Structured Rule Language (SRL), testing, RMA generation, lifecycle management in the RMA, and rule project deployment.
Tailored communication strategies boost collections and customer satisfaction.
Phillips & Cohen Manages Global Growth While Preserving a Compassionate Approach to Estate Debt Collection with FICO Solution.
Learn how Cabot Credit Management boosted efficiency and customer satisfaction with FICO® Debt Manager™ Solution.
Makes Debt Collection Efficient and Productive with FICO Solution.
Agencies have long provided telecommunications companies with scalability for collections in a high-growth industry. Today, with markets and business models changing, your collections agencies have a growing impact — for good or ill — on y...
In today’s utilities collections environment, traditional approaches are less and less effective. New techniques and a personal touch—like customers being able to resolve late payments from their mobile device—produce higher ROI for collec...
For 60 years, FICO has worked with a broad variety of credit issuers building best practices in the recovery of debt. One area of critical importance is the outsourcing of debt to third parties. Worldwide, more than 40% of credit-...
It’s estimated that 30 million people in the US alone have one or more debts in collections, and household debt is on the rise. Significant 90-day delinquencies come from credit cards, mortgages (plus associated lines of credit), student l...