Chordiant Software Inc. of Cupertino, Calif., says two card companies helped it develop a collection system that uses predictive analytics to score a borrower's likelihood of repaying a delinquent loan.
Bill Brown, the director of card product marketing at Chordiant, would not identify the companies, except to say one of them is among the top five issuers in the country.
Chordiant announced the general availability of the Collections Manager system Monday. It is designed for the "low-prime, mid-prime market," Mr. Brown said in an interview.
"It's about not just minimizing your loss through your collections effort, but developing new customer relationships," he said.
The system uses 20 sets of data elements to help collectors choose the most appropriate approach for each customer, Mr. Brown said.
Chordiant says its financial customers include Barclays PLC, Canadian Imperial Bank of Commerce, Capital One Financial Corp., and HSBC Holdings PLC.
