Partnership delivers cloud-based collections and recovery

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Partnership delivers cloud-based collections and recovery

FICO selected Savvis to deliver its Debt Manager solution as a service in the cloud to lenders and collection agencies.

FICO Debt Manager transforms collection and recovery processes for credit card accounts, secured and unsecured loans, mortgages, and deposit/current accounts with adaptive control capabilities and a flexible architecture.

Built using a service-oriented architecture, FICO Debt Manager allows lenders of all sizes and portfolios to implement the solution with multiple configuration options and work in public, private, and hybrid cloud environments.

FICO Debt Manager is now optimized for Savvis data center services and Savvis Symphony Dedicated Cloud. This means that lenders are now able to deploy the solution faster, cut collection costs, improve productivity, and collect more from delinquent customers, the company said.

"The portfolio mix has changed for lenders and collection agencies, including length accounts stay in collections, increase in ‘good' customers who are delinquent, and the massive increase in debt volume, requiring even faster response and proper treatment of each account," says Stuart Wells, chief technology officer at FICO. "Lenders and collection agencies need debt management solutions built with a modern architecture that can be deployed quickly in multiple environments including private, public, and hybrid clouds. By working with Savvis, FICO is now offering our clients the flexibility and agility they need to improve collections and recovery results in this very challenging environment."

[This article was posted on September 11, 2012, on the website of ABA Banking Journal, www.ababj.com.]

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