Fico, a provider of analytics and decision management technology, has released a new version of its Debt Manager platform for collections and recovery. The platform integrates with the Telrock mobile and digital payments application SmartCollect to increase the speed and efficiency of collections and improve the customer experience. Fico Debt Manager supports collections for credit cards, mortgages, secured and unsecured loans, and checking-account overdrafts, and is also available in a preconfigured version known as Fico Debt Manager Live for rapid deployment.
Collectors are increasingly using mobile channels to communicate with customers. Among Telrock’s lending clientele, 40% of borrowers who were contacted through a mobile service paid directly via mobile within 30 minutes of receiving the alert, and 80% paid within 48 hours. Debt Manager provides communication with customers via SMS and other mobile and digital channels.
“We chose Debt Manager Live because we can implement the system faster, and use the preconfigured strategies to immediately differentiate customer treatment based on their needs. We believe this tailored approach will support customers and provide better results for both parties,” said Anthony Travagline, head of collections at EnterCard, a Nordic credit card company that serves Sweden, Denmark and Norway. “The integration with Telrock’s mobile services was also an important factor, since it will allow our customers to have input on preferred communication channels while simplifying their ability to make payments or set up payment plans. By leveraging technology our intent is to make interaction easier for our customers through their mobile devices and computers. We can also improve our resource allocation, by automating more routine customer contacts and focusing our collectors on those cases that require a special touch.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.