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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.
Time: 12pm – 5pm EST / 9am – 2pm PST
Are you an operations research or data scientist role and want to become an expert in FICO Xpress Optimization and Xpress Insight? Register for this web-based training session and receive two days of classroom-style instruction from our FICO experts.
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: 2pm BST / 3pm CEST / 9am EDT
Duration: Complimentary Webinar 60 Minutes
Presenter: Richard Lagerweij, Business Development Lead, FICO Decision Management Solutions
To successfully complete a digital transformation—or to simply protect themselves from a digital disruption—businesses must ensure that customer-facing actions happen expeditiously. Each customer touchpoint must factor in all relevant data, reconcile all inter-implications, and produce the highest expected ROI. In an effort to create these fast, optimized customer engagements, many organizations merely network their disparate vital decision assets, which means their systems often still aren't truly interoperable in real-time. Thus, despite substantial investments, enterprises find themselves falling behind in the digital race to attract and retain customers. Fortunately, it's not too late to achieve lift-off.
Join us online on June 9th at 9am BST (10am CEST) to learn how top firms are using Xpress Insight: a scalable, dynamic, and powerful optimisation platform for overcoming the most complex business challenges across the entire supply chain lifecycle. This web-based event is free, and it will last until 2pm BST (03pm CEST), with a 1-hour break from 11-12.
1 PM UK GMT | 3 PM KSA
Complimentary Webinar In partnership with SIMAH
COVID-19 is going to cause a deterioration in repayments once deferral arrangements expire.
Join FICO and SIMAH for an important online presentation, "Managing Risk using Scores in a Pandemic" on 10th June 2020 at 3 PM KSA.
This course explains elements and functions of the Siron™ programming lan-guage. It focuses on those aspects needed for rule building in the Siron™ prod-uct suite and shows examples of how to use Siron™ syntax in Siron™ AML and Siron™ KYC.
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.
This course familiarizes attendees with optimization models and techniques, and the terminology used to describe them. Participants gain an understanding of the Xpress suite, the Mosel modeling and programming language, and Xpress Workbench. Through a series of projects illustrating applications of the LP and MIP methods, students learn to implement optimization models using Xpress Optimization Suite.
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...