Callcredit Collections Innovation Forum

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  • Can’t Pay, Won’t pay
  • Callcredit Collections Innovation Forum

    1. 1. Collections Innovations Forum23rd February 2012
    2. 2. Collections Innovation Forum Welcome: Alan GolobFollow us on Twitter @Callcredit #Cinnovation
    3. 3. Follow us on Twitter @Callcredit #CInnovation Collections Innovation ForumAre electronic communications an effective and compliant collections tool?
    4. 4. Follow us on Twitter @Callcredit #CInnovationCollections Innovation Forum CallTrace Batch Version 4 Lisa Green
    5. 5. Challenges in Tracing• Electoral Roll opt-outs• Regulatory pressures and validation of traces• Increased consumer awareness of credit reports• Increased scrutiny on debt collection and recovery practices• Safeguarding your brand• Tracking savvy debtors and reinvigorating historic accounts
    6. 6. CallTrace Version 4 Sunshine LodgeWe’ve revolutionised our tracing Beach Avenue Brightonproduct to meet the currentchallenges in tracing 25 Mulberry Square Cambridge• Market leading Address logic 35 Meadow Court• A range of new features to vastly York 12 Morley Road improve validation and Preston segmentation Apartment 2, Grove Court Bristol Flat 2, High Towers Birmingham
    7. 7. New Address Link LogicCallTrace’s address logic has been OSD Logicenhanced to include OSD Logic: arevolution in tracing logic •Unique to Callcredit • 4 years of development• OSD Logic uses indicative performing residency data used to identify the main • Information from multiple datasets which active residence of an individual can give you confidence that a customer is at a new address
    8. 8. Date of Birth Matching EnhancementsDOB Matching now returns unique and multiple matchesIn the absence of providing a new addressor a living as stated confirmation CallTracewill return:• The addresses of all individuals with the provided name and date of birth• A km distance (As the crow flies) from the input address for all Multiple Matches “People usually move within 10km”
    9. 9. Judgment Information now returnedVersion 4 returns judgment data for validation and profilingpurposes• Number of active judgments• Total amount for all active judgments• The latest judgment status Miss Janet Evans 2 Active Judgments Judgement value £450• The latest judgment date Latest Judgment 18th May 2011• Latest judgment amount Mr Peter Johnson 1 Active Judgment Judgement value £75 Latest Judgment 21th June 2009
    10. 10. Account Type DataAccount type data can be used forID or Trace Validation Purpose• Number of Unique Portfolios Registered at an Address• Active SHARE Account types returned in one Miss Tina Mitchell field 10 Oak Road, Newcastle 3 Active SHARE records MG,CC,CC Mr Calvin Johnson 1 Main Street, Watford 6 Active SHARE records MG,HC,CC,CC,PL,PL Mr Mark Jenkins 30 The Grove, Leeds 5 Active SHARE records MG,HC,CC,CC,CA
    11. 11. Putting it all togetherMr Mark Jenkins:30 The Grove, Leeds CallTrace provides you•On Current ER with a robust view of•Credit Active at output address your debtor all in one•5 Active SHARE records: easy to read MG,HC,CC,CC,CA•2 Active Judgements output, enabling you to Judgement value £450 correspond with Latest Judgment 18th Dec 2011 confidence•Telephone number at output address
    12. 12. Feedback from Early Adopters• CallTrace is a product suitable for all areas of the debt collection cycle • Tracing and Validating addresses • Book on strategy and segmentation Traced Traced Traced Traced Traced Traced • Account management Traced Traced Traced • Reinvigorating old accounts Traced Traced Traced Traced Traced Traced Traced Traced Traced Traced Traced Traced Traced• CallTrace provides corroborative data sets that Traced Traced Traced Traced Traced Traced Traced Traced add confidence to new addresses Traced Traced Traced Traced Traced • Greater confidence going into assertive collections Traced Traced Traced • Corroborative data sources assist validation of traces
    13. 13. Break Reminders• Segmentation and Strategy Discussion – during break• Tea and Coffee in the Northern Room• Update us with industry challenges and product ideas in our suggestions box or come talk to us• Reconvene at 3:25
    14. 14. Follow us on Twitter @Callcredit #CInnovation Collections Innovation ForumThe Income and Expenditure Come Back James Syron
    15. 15. Regulatory LandscapeAlthough The OFT’s debt collection guidance has predominately been the main guide formany UK collection organisations. 2011 saw the introduction of the Lending Code and therefocus of the Financial Services Authority’s Treating customer’s fairly.FSA , Treating Customers fairly• Requires collection organisations to deal with “Offer theindividuals and their individual financial problem customer• Agree sustainable payment agreements appropriate and timely options”The Lending Code, 2011• Requires subscribers to be positive and The Lending Code, 2011sympathetic to customers in financial Difficulties
    16. 16. Lending Standards: Financial DifficultiesWhat does Financial Difficulties look like?• Loss of employment “A fall in• Disability disposable• Serious illness income and/or• Relationship breakdown increased expenditure”• Death of a partner The Lending Code, 2011• Starting a lower paid job• Parental/carer leave• Starting full-time education
    17. 17. Data Insight: Integrating Collections DataDue to increased data access and new technologies we’re in a much betterplace to deal with Income and Expenditure processes - - = Disposable Income Income Credit Expenditure Household Expenditure
    18. 18. Data Insight: Integrating Collections DataUnique technology and data sets available instantly through an API to helpvalidate, automate and derive key collection information• Make informed decisions by looking at each customer’s financialcircumstance• Drive strategies, segment and apply relevant treatments tocustomers• Integrate into collections software to automate work flows
    19. 19. Integrated Collections Data: Payment AgreementsAgree realistic and sustainable payment agreements by being able toreview each individual customer’s circumstance• Validate credit expenditure and• total indebtedness• Validate income• Derive disposable income levels
    20. 20. Integrated Collections Data: Agreement ReviewsEasily identify signs of financial improvement and deterioration in orderto undertake informed, effective and profitable payment reviews• New accounts• Accounts paid in full• Dramatic balance reductions• Validate Income
    21. 21. Integrated Collections Data: BackgroundBCW designed a Collector desktop tool which provided a picture of a individualscurrent and past financial circumstances to make informed decisions and optimisetelephone negotiation With the help of Callcredit consultancy BCW Chose from over 700 Concepts such as: • Total Debt Value SHARE (Financial Public Credit Performance data • Total Monthly Committed Payments on all Data) debts (Now and over the past 3, 6 ,12 months) Address Residency Links Status • Total debt balances now and 3, 6, 12 months ago • Plus many more...
    22. 22. Integrated Collections DataCollector Desktop Tool
    23. 23. Seamless Integration• Automated search for efficient negotiations• Search can be auto generated on both inbound and outbound calls• Took only 10 days to Integrate and develop – V Quick• Quick response times typically less than 3 seconds
    24. 24. Design• BCW created own look and feel of the desktop tool• Agreed variables which would aid telephone negotiation such as total monthly payments, mortgage balance etc.• User centric and fits within one screen for easy analysis and navigation
    25. 25. Benefits• Enables the collector to make informed decisions• Helps agree realistic and sustainable payment agreements in line with the FSAs Treating customers fairly• Enables a collector to spot signs of financial improvement in order to increase payment agreements on reviews• Helps satisfy Lending standards board
    26. 26. Follow us on Twitter @Callcredit #CInnovation Collections Innovation ForumPeter Mansfield, Managing Director

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