|Advanced analytics products help receivables management|
LexisNexis Risk Solutions announced the availability of new receivables management solutions that will help debt buyers, collection law firms, and agencies improve their collection efforts, drive greater workflow efficiency, and increase overall profitability.
• Collection Attributes is a new predictive analytics solution that helps owners of debt and those who collect debt improve their recovery efforts by offering portfolio segmentation and enhancing their scoring and modeling performance. Collection Attributes help increase customer segmentation and analytical performance by supplementing in-house data, including credit data, with hundreds of "alternative data" attributes for improved scoring performance and predictive capabilities.
"In today's recovery industry where efficiency and performance management is the name of the game, collection organizations are seeking new easy-to-use cloud based vendor management tools to better manage their outsourced recovery and collections processes," says Robert Fite, vice president, Receivables Management for LexisNexis.
• Collect Point Vendor Manager accelerates delinquent accounts recovery with automated vendor management tools that streamline account placements, simplify recalls, and re-assign and strengthen vendor monitoring. Vendor Manager, the latest module in the LexisNexis cloud based collections workflow platform, takes debtor agency recovery efforts to the next level by helping their customers fully leverage third-party servicing while increasing vendor revenue.
• Vendor Manager complements the existing Collect Point Web Agent module, the next generation in virtual online payment portal that has been designed specifically for collections and comes with an agent avatar interface and real-time payment terms decisioning. It also comes with a Web Collections Manager, a hosted receivables management platform that serves as the system of record, and for managing delinquent account collections workflow.
• The Batch Portfolio Evaluation Report provides customers with a detailed view of their portfolio. This solution leverages new LexisNexis technology and processing capabilities to give customers a single view of their portfolios.
[This article was posted on February 22, 2012, on the website of ABA Banking Journal, www.ababj.com.]
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