FICO Webinar: Debt Collection 2020 - Affordability | Aug 27, 2020

Presented by

Bruce Curry, Vice President, EMEA Collections and Recovery

About this talk

How to improve affordability validation? Traditionally affordability assessments are long arduous processes for both customers and employees as the average telephony assessment takes up-to one hour to complete. As customers rush through the calls, they provide self-declared income and spending information but due to customer bias and an inclination to round-up amounts, these assessments result in inaccurate budgets and unsustainable agreements. As teams prepare for a second spike in October, due to furlough and self-employed funding schemes coming to an end, we’ll discuss how alternative omnichannel solutions can engage more customers. We’ll show you how Open Banking and CRA data can be introduced into your collections strategies to create more accurate outcomes, more sustainable arrangements, and to ensure each customer gets fair treatment. Join our webinar and learn how to: · prove fair customer treatment during uncertain, challenging times and customers changing circumstances · implement Open Banking and CRA data into your collections strategy to improve the accuracy of your affordability assessments · reduce the time it takes for your customers to complete an affordability assessment from an hour to mere minutes

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