Consumer credit delinquencies are a major problem for businesses.
But without a deeper understanding of your customer’s financial situation, getting them on the phone is not sufficient enough to set up a sustainable repayment plan.
By incorporating economic, lifestyle and behavioural data alongside contact and financial information, you can get a complete picture of each collections case to maximise the chances of collecting overdue debt and improving credit cash flow.
The outcome of every possible credit decision can’t be tailored to each and every customer, which makes it difficult to avoid lost potential profit.
However, with deeper insight into your audience and the wider market, you can ensure that opportunities aren’t missed and the optimal solution is in place.