Case Study | Early arrears collections management
| Sector | Mortgages |
|---|---|
| Products | Classic |
| Application | Collections & Recoveries |
Our client, a well known UK Building Society, came to us for assistance in managing their mortgage arrears in a more strategic way to increase successful recoveries, reduce associated costs and comply with the FSA's 'Treating Customers Fairly' guidelines.
This collections and recoveries case study shows how Fraudscreen was able to accurately predict which customers were most likely to fall into arrears, and for those in arrears which were most and least likely to result in full recovery of the debt. From this, we were able to work with the client to implement two distinct practical applications:
- Prior to arrears: Identifying customers at high risk of arrears, triggering standard preparedness process for those individuals.
- In arrears: Tailoring communications and activities according to likelihood of long term value.
