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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Gbaf News

    Posted on June 25, 2014

    Featured image for article about Top Stories

    Upgraded FICO solution available both in the cloud and on-premise

    FICO (NYSE:FICO), a leading predictive analytics and decision management software company announced the general availability of FICO® Debt Manager™ solution 9.5, with a host of new features designed to help collectors improve productivity while ensuring they are compliant with new regulations. The solution enables collections groups to reduce operating costs, achieve score-driven increases in amounts collected, adjust to changing regulations and increase customer satisfaction.

    FICO® Collection Scores are now available out-of-the box, giving users the ability to assign the right treatment strategy and collector to each individual account, and thereby helping to improve performance.Typical operations that adopt FICO Collections Scores see a three to five percent lift in collections.

    “Payment patterns have been changing fast and we’re seeing growing numbers of first-time defaulters in many markets,” said David Lightfoot, vice president of product management for FICO. “Collectors are increasingly turning to analytics so that every call, text or email yields results. With FICO Debt Manager 9.5, we’ve made it even easier for collectors to deploy analytics and boost their performance. It’s all part of FICO’s goal of democratising analytics and bringing the proven power of scoring to every client.”

    Fico Debt Manager 9.5 Helps Debt Collectors Improve Performance While Complying With Latest Regulations

    Fico Debt Manager 9.5 Helps Debt Collectors Improve Performance While Complying With Latest Regulations

    FICO Debt Manager 9.5 is fully integrated with FICO® Risk Intervention Manager, which automates real-time communication with customers through their preferred channel, improving right-party contact rates. FICO Risk Intervention Manager clients report being able to handle two to four times the volume at the same cost with better right-party contact rates and improved customer satisfaction. Working together, FICO Debt Manager and FICO Risk Intervention Manager enable collection organisations to adhere to regulations that stipulate language and debtor contact, and to produce reports quickly and easily for regulators based on a full audit of every action, automated or manual.

    “The enactment and interpretation of new regulations is occurring quickly, which can have a tremendous impact on performance,” said Lightfoot. “FICO collections solutions work together to provide the ‘new basics’ that collectors need: comprehensive data capture and analysis, analytically driven actions, collector activity control, 100% coverage of voice interactions and more powerful virtual agents.”

    FICO Debt Manager 9.5, available both in the FICO® Analytic Cloud and as on-premise software, has several features that increase collectors’ success and efficiency. The Balance Reduction Plan gives users the ability to create schedules for consumers to reduce overdrawn or over-limit balances in increments. The configurable Collateral Support tab standardises collateral data and enables users to define any collateral type, such as vehicles, real estate/property, financial instruments and boats. FICO® Network integration provides connectivity and support to more than 500 agencies and data providers in the US and UK.

    FICO® Debt Manager™ solution is the most full-featured end-to-end solution for collections and recovery available today. More than 200 credit grantors, retailers, utilities, healthcare providers, government agencies and collection agencies worldwide rely on FICO debt management solutions.

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