CASE STUDY

Collections analytics helps in better collection planning and reduces costs for multinational bank

Sep 22, 2016

Business Challenge:

 Improving collection efforts

A leading bank in the US wanted us to analyze & setup the collections analysis framework to evaluate the effectiveness of its various initiatives.

Situation: 

High costs of collection with low collection rate

The client was experiencing very low collection rates. However, they were incurring huge costs in the collections process with low visibility on the effectiveness and contribution of multiple collections channels (automated emails, call center agents, IVR, field agents, etc.).

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Solution/Approach:

Customer profiling, risk analytics and collection model development

We analyzed the process and developed a statistical model for profiling and segmenting customers based on the risk and probability of collections. We also analyzed the efficiency of various channels with integration to the collections model, and established a revised effort and capacity planning for the channels based on the analysis output.

Impact: 

Better collection planning and reduced costs

The client gained a data based framework for collections planning, This  provided better visibility on the collections probability and resulted into better planning with less effort for collections. The result was improved collection rate and reduced overall cost of collections operations, as well as improved customer satisfaction with lesser repetitive reminders and calls.

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