Features & Benefits
How do you manage credit risk with a limited view of customer’s credit activities?
Current Account Management
By knowing which of your up-to-date customers are experiencing financial difficulty elsewhere, you can improve your marketing and reduce your risk exposure by determining:
- Am I offering my product to the right individuals in marketing campaigns?
- Should I authorise a transaction over the limit?
- Should I remove or reduce the shadow limit?
- Is the credit card debt manageable or should I reduce the expiry dates at renewal?
- Should I flag them for collection immediately if they miss a payment?
By identifying which customers are likely to self-cure, you can improve the customer experience and optimise collections activities by determining:
- Should I chase immediately or send a friendly text and give customers a chance to catch-up on missed payments?
- Have I taken all the appropriate steps to contact customers before defaulting?
- How do I perform skip traces when attempts to contact their last known address fail?
By knowing which customers in late collections are likely to recover, you can improve your return on investment by:
- Identifying which accounts you should sell to maximise yields
- Identifying which accounts are bankrupt to exclude from sale and protect your reputation
- Determining how to price your debt for sale
Equifax’s Portfolio Management Solutions are made up of the following powerful suite of products working in unison to provide a holistic solution:
Be warned if your customers experience financial difficulty at another credit provider. Receive notifications on your accounts in collections that help determine their ability to self-cure. Improve your chances of contacting customers with immediate notification of new identity, address, and employment details.
Equifax Score Manage®
Determine your overall customer ratings with behavioural scores that predict the likelihood of up-to-date accounts experiencing financial difficulty. Scores can be calculated on your entire portfolio and returned for accounts classified at Significant Risk of Defaulting. Utilise scores to monitor risk levels and manage exposure.
Equifax Score Collect®
Improve your collections strategy with behavioural scores that predict the likelihood of your accounts in arrears recovering back to current. Utilise scores to set the appropriate short-term strategies that maximise your collections resources and minimise operating expenses.
Equifax Score Recover®
Improve your return on investment with behavioural scores that predict the likelihood of recovering overdue amounts. Utilise scores to identify which accounts you should sell to maximise yields, which accounts should be excluded from the sale to protect your reputation, and how to price your debt for sale.
Genesis Data Block™
The Genesis Data Block™ that is returned with each score summarises complex credit data simply. The result is clear yet powerful aggregated insights that enable quicker and more accurate decision making. This is ever more important with the introduction of Consumer Credit Reporting (CCR), which has exponentially grown the number of variables businesses have to consider when applying policy rules.