Service helps debt collectors address deliquent accounts.
Press Release Summary:
Offering intuitive tool for debt collectors, Collections TriggersSM provides notification when debtor's ability to pay appears to be improving. It monitors public record, civil action, tradeline, and demographic events to help prioritize and segment collection strategies. Triggering options and rules around monitoring frequency can be customized based on priorities. Best address option notifies companies if newer address exists for delinquent account.
Original Press Release:
Experian Now Empowers Collectors With 'Improved Ability to Pay' Consumer Intelligence
COSTA MESA, Calif., Feb. 20 /- Experian(R), a global information solutions company, today announced the release of an enhanced version of Collections Triggers(SM). The new version provides collectors with notification when a debtor's ability to pay appears to be improving. This is especially critical for financial services organizations looking to optimize late stage and charged-off receivables.
The introduction of additional trigger criteria and attributes within Collection Triggers increases the ability for companies to act quickly when new information is available. Subscribers to Collection Triggers are notified within 24 hours when the financial status of a consumer within their collection portfolio has improved.
"Collection Triggers increases revenue by allowing companies to be first to the door of consumers who have improved their ability to pay," said Zaydoon H. Munir, senior vice president, Experian's Consumer Information Solutions. "This tool allows companies to increase their productivity by only working delinquent or charged-off accounts when there is tangible evidence that renewed contact will yield results."
The enhanced Collection Triggers solution offers:
o A low-cost solution since charges are only incurred when new information on an account is available
o An economical "best address" option that notifies companies immediately if a newer address exists for a delinquent account
o The ability to append 15 different score models to one or more types of trigger notifications, including Experian's VantageScore(SM) and RecoveryScore(SM)
o Improved management reporting and enhanced e-mail notification
o Monitoring of public record, civil action, tradeline and demographic events to help prioritize and segment collection strategies
o Triggering options and rules around monitoring frequency that can be customized based on priorities
"Collection Triggers is a powerful and intuitive tool for debt collectors who want to concentrate resources on the most collectible segments of their portfolio," said Munir. "Clients can monitor thousands of accounts and align their expenditures to monitor the consumer events that will most likely lead to recovery. This product is particularly beneficial for the debt buyers forced to operate on tight margins with the need for maximum efficiency."
For more information about Collection Triggers, please call 888-414-1120 or visit http://www.experian.com/collections_industry/index.html
About Experian
Experian(R) is a global leader in providing analytical and information services to organizations and consumers to help manage the risk and reward of commercial and financial decisions. Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage. For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors.
Experian Group Limited is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. It has corporate headquarters in Dublin, Ireland, and operational headquarters in Costa Mesa, Calif., and Nottingham, UK. Experian employs more than 12,500 people in 34 countries worldwide, supporting clients in more than 60 countries. Annual sales are in excess of $3.1 billion.
For more information, visit the Group's Web site at www.experiangroup.com.
The word "Experian" is a registered trademark in the EU and other countries and is owned by Experian Ltd. and/or its associated companies.
CONTACT: Susan Henson, Public Relations, Experian, +1-714-830-5129, susan.henson@experian.com
Web site: http://www.experian.com/collections_industry/index.html
Web site: www.experiangroup.com/
