Assess collectability so that you can prioritize efforts for the highest return

What does it do?

This advanced solution is designed to help businesses evaluate a consumer's ability to repay by providing actionable insights into their financial stability and payment capacity. It allows users to submit consumer and collection account information to generate an ability to pay score, a "dollars at risk" balance, and a detailed consumer stability assessment.

The tool analyzes 135 attributes sourced from both traditional and non-traditional data, offering unparalleled insights. These data sources include:

• Short-term lending histories
• Alternative credit histories
• Positive and negative ACH payment records
• Online consumer transactions
• Public records for financial and legal insights
• Demographic data for contextual analysis
• Proprietary MicroBilt data sources for additional depth and accuracy

A sophisticated analytics algorithm processes this data to determine the collectability score, which evaluates the likelihood of repayment and overall financial stability. This automated system ensures that as new data becomes available—such as updates from collection efforts—the consumer's profile and score are updated in real-time, maintaining accuracy and relevance.

What is it used for?

This tool is primarily used by businesses to segment and prioritize recovery efforts based on the probability of successful collection and the potential financial value of recovery. By integrating ability to pay tools, organizations can optimize their operations and focus resources on accounts with the highest potential for repayment.

Key Benefits Include:

1. Determine Collectability Score: Offers a clear, data-driven metric to rank consumers based on their likelihood to repay debts.
2. Streamlined Recovery Strategies: Enables businesses to segment accounts, allowing them to focus efforts on the most promising cases.
3. Dynamic Updates: Automatically revises consumer profiles and scores based on new data, ensuring relevance and accuracy over time.
4. Predictive Insights: By evaluating the ability to repay, businesses can forecast the outcomes of collection efforts and make informed decisions.

Use Cases:

• Debt Recovery Agencies: To prioritize cases and allocate resources effectively
• Financial Institutions: To assess a borrower's repayment potential before extending credit or initiating recovery processes
• Retailers and Service Providers: To evaluate consumer stability and payment behavior, reducing risks of unpaid balances

This solution goes beyond traditional credit scoring by incorporating a broader range of data, ensuring a more nuanced understanding of each consumer’s financial situation. Its ability to pay tools and dynamic scoring model make it a vital asset for organizations seeking to enhance their collection strategies, reduce risks, and improve operational efficiency.