Leveraging digital cloud data to inform collections strategy

For decades, financial services companies and other creditors have been leveraging third-party data sources to help inform risk and segmentation strategies. Traditional third-party data sources such as credit bureau, demographic, psychographic and purchase history have been very effective from new account acquisition to portfolio management and collections. These traditional data sources would be considered ‘data at rest.’

By augmenting data at rest with our proprietary, permission-based digital data cloud, we help clients incorporate intent signals that are informed by real-time behavioral-, transactional- and location-based data to increase the effectiveness of acquisiton and portfolio management programs. This ‘data in motion’ can provide deeper insights to audience behavior and intent.

We believe collectors can benefit from this rich data source as well. Imagine having insight to a customers real-time behavior and intent. Are they searching for a new job?  Have they explored unemployment benefits?  Have they researched debt settlement companies? Or maybe even visted a payday loan store or a pawn shop? 

Our proprietary artificial intelligence (AI) technology can help:

  • augment current risk scores by providing a better assessment of risk and collectability than current scores and risk measures alone.
  • provide an early warning for customers who have experienced a job loss.
  • provide an early warning for customers likely to engage a debt settlement company.
  • provide alternative contact information for delinquent accounts.
  • provide insight into contact channel preference and effectiveness.

The digital data cloud has over 230 million unique individuals with physical and email addresses, over 600 buying intention groups, and 25 billion real-time interest data and intent signals monthly.

Let Creative Solutions enhance your data and understanding of your customers to provide a better assessment of risk and collectability to inform your collections strategy.

Call 302.543.8533 or schedule a free consultation today to explore how we can help you.