MINNEAPOLIS – FICO unveiled the latest version of its FICO Debt Manager platform for collections and recovery, which it said integrates with the Telrock mobile and digital payments application SmartCollect to increase the speed and efficiency of collections.
FICO Debt Manager supports collections for credit cards, mortgages, secured and unsecured loans, and checking-account overdrafts. The company said it is available in a preconfigured version known as FICO Debt Manager Live for rapid deployment.
Among Telrock’s lending clientele, 40% of borrowers who were contacted through a mobile service paid directly via mobile within 30 minutes of receiving the alert, and 80% paid within 48 hours. FICO Debt Manager provides the orchestration for communications with customers via SMS and other mobile and digital channels.
The pre-configured FICO Debt Manager Live option includes data and pre-loaded collections strategies and treatments organized by product, delinquency bucket and risk level.
