As 2022 gets underway and financial institutions see increases in their collection portfolios, it’s more important than ever to have a portfolio management system that provides the information you need to decrease delinquencies. Experian’s Collection Advantage℠ solution does just that. The solution is featured within MeridanLink Collect (formerly Xpress Collect®) and is designed to be customer-centric, promoting a new way of working to optimize organization, improve recovery and gain greater insights within your debt portfolio.
Collection Advantage solutions are backed by Experian’s advanced analytics and provide clients with the necessary information to effectively segment, prioritize and make contact on their collection account, making it a flexible solution that uniquely combines credit data and consumer contact data in one effortless process. Recovery scoring can also be included, along with the consumer and credit data such as scoring, attributes, Social Security number, fraud and tradelines.
When accessing Collection Advantage through MeridianLink Collect, the setup and configuration require minimal effort from your institution. MeridianLink Collect sets up and configures the solution at no cost to you, bringing you that much closer to recovering your collections. The Collection Advantage solution was designed to be a customer-centric feature within MeridianLink Collect in the following ways:
- The admin configures which package of credit/consumer data can be requested by Experian on a per-queue basis.
- Recovery scoring can be optionally ordered along with the credit and consumer data package.
- The admin configures when requests to Experian should be sent via MeridianLink Collect through an easy-to-use scheduling tool.
- Collection agents can sort/filter cases within a queue by Experian’s recovery scores.
- Collection agents can easily review the credit and consumer data directly within each case.
How This Benefits The Collector
The solution provides financial institutions with the necessary information to effectively segment, prioritize and contact their collection accounts — all in a one-stop-shop format. The benefits of the scoring, tracking and insight capabilities within the solution are threefold:
- Identify debtors with the highest recovery.
- Provide in-depth background checks.
- Track the consumers’ financial behavior.
This helps reduce operational costs for the financial institution and streamlines the recovery process for both parties. Access to critical debtor data also provides the collector with enhanced negotiating abilities.
To find out more information about MeridianLink Collect and the Collection Advantage solution, contact us at mlcollect@meridianlink.com.
