The aim is to provide targeted Portfolio Review datasets for debt collections from existing customers of specified members. The Collections Portfolio Review output is required for effective collections calling.
Targeted calling files: The PR data would be divided into targeted calling files. This enables Collections calling teams to call customers with precise off-member (external) payment information.
Enriched data: The customer snapshot will be enriched with phone numbers- and addresses from the bureau.
Concise presentation of data: The data for every delinquent and potentially delinquent customer will be presented in a single row
Segregation into region-level and branch-level files: The Collections PR files would be segregated into region-level or branch-level files as per requirements provided by members. The mapping of accounts to regions and branches will have to be provided by the member.
Actionable Insights for Business
A robust collections strategy requires adopting an integrated approach to optimally leverage available data insights into a more comprehensive manner, thereby closely monitoring customers’ financial behaviour that would otherwise result in a bad debt. By integrating analytics, collections teams can not only improve expected margins, but they can flag up early trends that may call for a change in strategy.