Integrated Servicing and Recovery Strategies

Traditionally, the focus of credit evaluations has been at the account origination stage. Vetting and onboarding new customers requires significant resources. But credit assessment, due diligence and account monitoring should continue throughout the customer journey. Consider these questions:

• What strategies do you have in place to recognize shifting risk in your customers?
• How can you identify and remediate customers on the brink of delinquency or default?
• Are there opportunities to expand accounts and maximize portfolio performance?

Accomplish these actions at different stages of the customer lifecycle:

Leverage alternative data insights to build your servicing and recovery strategy

In times of economic uncertainty, when consumer debt and delinquencies are rising, lenders seek to prevent defaults in their portfolio. Proactive engagement with accounts can bolster customer loyalty and keep customers in-brand while recovering in a profitable way. When the economy is healthy, servicing your portfolio helps you find new growth through upsell and cross-sell to customers.

Compliance
LexisNexis® Banko® Solutions leverages millions of bankruptcy and deceased records to provide automated daily notifications of bankruptcy and deceased filings.

LexisNexis® Military Status identify active-duty military members to facilitate compliance with the Service members Civil Relief Act (SCRA).

Decisioning
LexisNexis® RiskView™ Payment Score rank-orders accounts based on the likelihood that a consumer will make a payment in the next three months and the size of that payment.

LexisNexis® RiskView™ Attributes for collections includes 350+ next-generation insights, offering powerful, granular alternative data for use in your internal scoring models.

Contact Strategies
LexisNexis® Accurint® for Collections, as part of the contact and locate workflow, provides access to public and proprietary data from thousands of proven sources including information on relatives, associates, addresses, phone numbers and more. Easily rectify errors in contact information.

Litigation
PAYMETRIX® offers the power to identify previously undiscovered consumer assets. You’re able to determine if a customer has the resources to pay the debt and how quickly they can satisfy a judgment.