callcredit collections innovation forum

Collections Innovations Forum23rd February 2012

Collections Innovation ForumWelcome: Alan Golob

Follow us on Twitter @Callcredit#Cinnovation

Collections Innovation Forum

Are electronic communications an effective and compliant collections tool?

Follow us on Twitter @Callcredit #CInnovation

Collections Innovation ForumCallTrace Batch Version 4

Lisa Green


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

CallTrace Version 4

We’ve revolutionised our tracing product to meet the current challenges in tracing

• Market leading Address logic

• A range of new features to vastly improve validation and segmentation

Flat 2, High TowersBirmingham

35 Meadow CourtYork 12 Morley Road

Preston

Apartment 2,Grove CourtBristol

Sunshine LodgeBeach AvenueBrighton

25 Mulberry SquareCambridge

OSD Logic

New Address Link Logic

CallTrace’s address logic has been enhanced to include OSD Logic: a revolution in tracing logic

• OSD Logic uses indicative performing residency data used to identify the main active residence of an individual

•Unique to Callcredit

• 4 years of development

• Information from multiple datasets which can give you confidence that a customer is at a new address

Date of Birth Matching Enhancements

“People usually move within 10km”

In the absence of providing a new address or a living as stated confirmation CallTrace will 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

DOB Matching now returns unique and multiple matches

Judgment Information now returned

Version 4 returns judgment data for validation and profiling purposes

• Number of active judgments

• Total amount for all active judgments • The latest judgment status

• The latest judgment date

• Latest judgment amount

Miss Janet Evans2 Active JudgmentsJudgement value £450Latest Judgment 18th May 2011

Mr Peter Johnson1 Active JudgmentJudgement value £75Latest Judgment 21th June 2009

Account Type Data

• Number of Unique Portfolios Registered at an Address

• Active SHARE Account types returned in one field

Mr Calvin Johnson1 Main Street, Watford6 Active SHARE recordsMG,HC,CC,CC,PL,PL

Mr Mark Jenkins30 The Grove, Leeds5 Active SHARE recordsMG,HC,CC,CC,CA

Miss Tina Mitchell10 Oak Road, Newcastle3 Active SHARE recordsMG,CC,CC

Account type data can be used for ID or Trace Validation Purpose

Putting it all together

CallTrace provides you with a robust view of your debtor all in one easy to read output,

enabling you to correspond with

confidence

Mr Mark Jenkins:

30 The Grove, Leeds

•On Current ER

•Credit Active at output address

•5 Active SHARE records:

MG,HC,CC,CC,CA

•2 Active Judgements

Judgement value £450

Latest Judgment 18th Dec 2011

•Telephone number at output address

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• Account management• Reinvigorating old accounts

• CallTrace provides corroborative data sets that add confidence to new addresses

• Greater confidence going into assertive collections• Corroborative data sources assist validation

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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

Tweet us at #Cinnovation

Collections Innovation ForumThe Income and Expenditure Come Back

James Syron


Although The OFT’s debt collection guidance has predominately been the main guide for many UK collection organisations. 2011 saw the introduction of the Lending Code and the refocus of the Financial Services Authority’s Treating customer’s fairly.

FSA , Treating Customers fairly

• Requires collection organisations to deal with individuals and their individual financial problem

• Agree sustainable payment agreements

The Lending Code, 2011

• Requires subscribers to be positive and sympathetic to customers in financial Difficulties

“Offer the customer appropriate and timely options”


Regulatory Landscape

“A fall in disposable income and/or increased expenditure”


Lending Standards: Financial Difficulties

What does Financial Difficulties look like?

• Loss of employment

• Disability

• Serious illness

• Relationship breakdown

• Death of a partner

• Starting a lower paid job

• Parental/carer leave

• Starting full-time education

=- - Disposable Income

Income Credit Expenditure Household Expenditure

Data Insight: Integrating Collections Data

Due to increased data access and new technologies we’re in a much better place to deal with Income and Expenditure processes

Data Insight: Integrating Collections Data

Unique 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 financial circumstance

• Drive strategies, segment and apply relevant treatments to customers

• Integrate into collections software to automate work flows

Integrated Collections Data: Payment Agreements

Agree realistic and sustainable payment agreements by being able to review each individual customer’s circumstance

• Validate credit expenditure and

• total indebtedness

• Validate income

• Derive disposable income levels

Integrated Collections Data: Agreement Reviews

Easily identify signs of financial improvement and deterioration in order to undertake informed, effective and profitable payment reviews

• New accounts

• Accounts paid in full

• Dramatic balance reductions

• Validate Income

Integrated Collections Data: Background

SHARE(Financial

Performance Data)

Public Credit data

Residency Status

Address Links

BCW designed a Collector desktop tool which provided a picture of a individuals current and past financial circumstances to make informed decisions and optimise telephone negotiation

With the help of Callcredit consultancy BCW Chose from over 700 Concepts such as:

• Total Debt Value

• Total Monthly Committed Payments on all debts (Now and over the past 3, 6 ,12 months)

• Total debt balances now and 3, 6, 12 months ago

• Plus many more...

Collector Desktop Tool

Integrated Collections Data

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

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

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

Collections Innovation Forum

Peter Mansfield, Managing Director


callcredit collections innovation forum

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