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Getting Collection Strategies Right with Data and Analytics

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Fraudscreen Ltd
Fraudscreen Ltd

The document discusses a webcast on collections strategies. It introduces the speakers and outlines an agenda covering the framework, pre-delinquency stage, collections stage, and recoveries stage of debt. In the collections section, it discusses taking a marketing approach to strategy design, where the key is understanding customer response to lender actions. It also discusses using a customer's risk score as a sufficient statistic to simplify strategies, noting that scores reduce complexity but do not make decisions on their own.

NegóciosEconomia e finançasTecnologia
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WEBCAST The Life-cycle of a Debtor: Collections: Knowing what intervention really works when people don’t pay
© 2009. Copyright Fraudscreen Ltd. The three stages of debt... Webcast: collections 2
© 2009. Copyright Fraudscreen Ltd. The three stages of debt... Paper one: Pre-delinquency Webcast: collections 2
© 2009. Copyright Fraudscreen Ltd. The three stages of debt... Paper one: Paper two: Pre-delinquency Collections Webcast: collections 2
© 2009. Copyright Fraudscreen Ltd. The three stages of debt... Paper one: Paper two: Paper three: Pre-delinquency Collections Recoveries Webcast: collections 2
© 2009. Copyright Fraudscreen Ltd. Introducing the speakers Webcast: collections 3
© 2009. Copyright Fraudscreen Ltd. Introducing the speakers John Sharman Sales & Marketing Director, Fraudscreen Webcast: collections 3
© 2009. Copyright Fraudscreen Ltd. Introducing the speakers John Sharman Peter Taylor Sales & Marketing Credit & Collections Director, Fraudscreen Director, Fraudscreen Webcast: collections 3
© 2009. Copyright Fraudscreen Ltd. Introducing the speakers John Sharman Peter Taylor Helen McNab Sales & Marketing Credit & Collections Director Director, Fraudscreen Director, Fraudscreen ScorePlus Webcast: collections 3
© 2009. Copyright Fraudscreen Ltd. Agenda FRAMEWORK PRE-DELINQUENCY COLLECTIONS RECOVERIES Objectives Helen Data & Analytics Helen Strategy Design Helen Operational Peter Design Strategy Delivery Strategy Peter Evaluation Budget Definition Peter Webcast: collections 4
© 2009. Copyright Fraudscreen Ltd. Agenda FRAMEWORK PRE-DELINQUENCY COLLECTIONS RECOVERIES Objectives Helen Data & Analytics Helen Strategy Design Helen Operational Peter Design Strategy Delivery Strategy Peter Evaluation Budget Definition Peter Webcast: collections 4
© 2009. Copyright Fraudscreen Ltd. Programme framework See: Part One, p.6 Webcast: collections 5
© 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 5
© 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 6
© 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 7
© 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Design Operational Design Strategy Delivery Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 8
© 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Evaluation Design Operational Design Strategy Delivery Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 9
© 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Evaluation Design Operational Design Strategy Delivery Delivery Strategy Evaluation Budget Definition Budget See: Part One, p.6 Webcast: collections 10
© 2009. Copyright Fraudscreen Ltd. Agenda FRAMEWORK PRE-DELINQUENCY COLLECTIONS RECOVERIES Objectives Data & Analytics Strategy Design Helen Operational Design Strategy Delivery Strategy Peter Evaluation Budget Definition Webcast: collections 11
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 12
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives You talk about a score being a sufficient statistic, what does that Data & Analytics mean in practice? Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 12
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives small volume action groups (nodes) Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives small volume action groups (nodes) hard to justify Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives small volume action groups (nodes) hard to justify Data & Analytics hard to monitor and therefore refine strategies Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic Webcast: collections 14
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic Webcast: collections 14
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors - nothing else can be added to improve our Strategy Evaluation understanding Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors - nothing else can be added to improve our Strategy Evaluation understanding Budget Definition See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors - nothing else can be added to improve our Strategy Evaluation understanding Budget Definition • BUT – scores do not make decisions See: Part Two, pp.7-10 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Scores Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Scores Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 17
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives What does a ‘marketing approach’ mean in relation to collections? Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 17
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Lender actions Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender actions Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender Analysis actions Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender Analysis actions Strategy Evaluation Budget Definition Refinement See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender Analysis actions Strategy Evaluation Budget Definition Refinement See: Part Two, pp.6-7 Webcast: collections 18
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.6-7 Webcast: collections 19
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.6-7 Webcast: collections 19
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Prospects Cohorts Budget Definition See: Part Two, p.6-7 Webcast: collections 19
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Prospects Contact Cohorts Campaigns Budget Definition See: Part Two, p.6-7 Webcast: collections 19
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Prospects Contact Collection outcomes Cohorts Campaigns Response analysis Budget Definition See: Part Two, p.6-7 Webcast: collections 19
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.13 Webcast: collections 20
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.13 Webcast: collections 20
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives understand cause and effect: measure collection outcome Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.13 Webcast: collections 20
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives understand cause and effect: measure collection outcome Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Cured Budget Definition Into recoveries See: Part Two, p.13 Webcast: collections 20
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives understand cause and effect: measure collection outcome Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Cured Budget Definition Into recoveries understand financial consequences: contribution & retention See: Part Two, p.13 Webcast: collections 20
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy evaluation FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 21
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy evaluation FRAMEWORK Objectives When it comes to evaluating a collections strategy, what key action Data & Analytics could people take immediately? Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 21
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.15-16 Webcast: collections 22
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK • What do the incentives in your collections area say about Objectives your priorities? group or individual? Data & Analytics reward immediate payments, or sustained payment? encourage staff to share approaches that work best, or keep them as Strategy Design a closely guarded secret? Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.15-16 Webcast: collections 22
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK • What do the incentives in your collections area say about Objectives your priorities? group or individual? Data & Analytics reward immediate payments, or sustained payment? encourage staff to share approaches that work best, or keep them as Strategy Design a closely guarded secret? • What is the role of the supervisor in collections? Operational Design ‣ model worker? ‣ trainer? Strategy Delivery ‣ evaluator of staff performance? ‣ what % of staff calls does the supervisor monitor? Strategy Evaluation Budget Definition See: Part Two, pp.15-16 Webcast: collections 22
© 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK • What do the incentives in your collections area say about Objectives your priorities? group or individual? Data & Analytics reward immediate payments, or sustained payment? encourage staff to share approaches that work best, or keep them as Strategy Design a closely guarded secret? • What is the role of the supervisor in collections? Operational Design ‣ model worker? ‣ trainer? Strategy Delivery ‣ evaluator of staff performance? ‣ what % of staff calls does the supervisor monitor? Strategy Evaluation • What do your customers think of the collections process? ‣ do you ask customers who have been in collections what they thought Budget Definition of it? ‣ how do you measure retention? See: Part Two, pp.15-16 Webcast: collections 22
© 2009. Copyright Fraudscreen Ltd. Find out more… www.fraudscreen.co.uk/lifecycle-part-two Paper one: Paper three: Pre-delinquency Recoveries Paper two: Collections Webcast: collections 23

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Getting Collection Strategies Right with Data and Analytics

  • 1. WEBCAST The Life-cycle of a Debtor: Collections: Knowing what intervention really works when people don’t pay
  • 2. © 2009. Copyright Fraudscreen Ltd. The three stages of debt... Webcast: collections 2
  • 3. © 2009. Copyright Fraudscreen Ltd. The three stages of debt... Paper one: Pre-delinquency Webcast: collections 2
  • 4. © 2009. Copyright Fraudscreen Ltd. The three stages of debt... Paper one: Paper two: Pre-delinquency Collections Webcast: collections 2
  • 5. © 2009. Copyright Fraudscreen Ltd. The three stages of debt... Paper one: Paper two: Paper three: Pre-delinquency Collections Recoveries Webcast: collections 2
  • 6. © 2009. Copyright Fraudscreen Ltd. Introducing the speakers Webcast: collections 3
  • 7. © 2009. Copyright Fraudscreen Ltd. Introducing the speakers John Sharman Sales & Marketing Director, Fraudscreen Webcast: collections 3
  • 8. © 2009. Copyright Fraudscreen Ltd. Introducing the speakers John Sharman Peter Taylor Sales & Marketing Credit & Collections Director, Fraudscreen Director, Fraudscreen Webcast: collections 3
  • 9. © 2009. Copyright Fraudscreen Ltd. Introducing the speakers John Sharman Peter Taylor Helen McNab Sales & Marketing Credit & Collections Director Director, Fraudscreen Director, Fraudscreen ScorePlus Webcast: collections 3
  • 10. © 2009. Copyright Fraudscreen Ltd. Agenda FRAMEWORK PRE-DELINQUENCY COLLECTIONS RECOVERIES Objectives Helen Data & Analytics Helen Strategy Design Helen Operational Peter Design Strategy Delivery Strategy Peter Evaluation Budget Definition Peter Webcast: collections 4
  • 11. © 2009. Copyright Fraudscreen Ltd. Agenda FRAMEWORK PRE-DELINQUENCY COLLECTIONS RECOVERIES Objectives Helen Data & Analytics Helen Strategy Design Helen Operational Peter Design Strategy Delivery Strategy Peter Evaluation Budget Definition Peter Webcast: collections 4
  • 12. © 2009. Copyright Fraudscreen Ltd. Programme framework See: Part One, p.6 Webcast: collections 5
  • 13. © 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 5
  • 14. © 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 6
  • 15. © 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 7
  • 16. © 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Design Operational Design Strategy Delivery Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 8
  • 17. © 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Evaluation Design Operational Design Strategy Delivery Delivery Strategy Evaluation Budget Definition See: Part One, p.6 Webcast: collections 9
  • 18. © 2009. Copyright Fraudscreen Ltd. Programme framework FRAMEWORK Objectives Objectives Data & Analytics Data & Analytics Strategy Design Evaluation Design Operational Design Strategy Delivery Delivery Strategy Evaluation Budget Definition Budget See: Part One, p.6 Webcast: collections 10
  • 19. © 2009. Copyright Fraudscreen Ltd. Agenda FRAMEWORK PRE-DELINQUENCY COLLECTIONS RECOVERIES Objectives Data & Analytics Strategy Design Helen Operational Design Strategy Delivery Strategy Peter Evaluation Budget Definition Webcast: collections 11
  • 20. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 12
  • 21. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives You talk about a score being a sufficient statistic, what does that Data & Analytics mean in practice? Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 12
  • 22. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
  • 23. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
  • 24. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives small volume action groups (nodes) Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
  • 25. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives small volume action groups (nodes) hard to justify Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
  • 26. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Key issue: complexity of strategies Objectives small volume action groups (nodes) hard to justify Data & Analytics hard to monitor and therefore refine strategies Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 13
  • 27. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic Webcast: collections 14
  • 28. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic Webcast: collections 14
  • 29. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 30. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 31. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 32. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 33. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 34. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors Strategy Evaluation Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 35. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors - nothing else can be added to improve our Strategy Evaluation understanding Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 36. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors - nothing else can be added to improve our Strategy Evaluation understanding Budget Definition See: Part Two, pp.7-10 Webcast: collections
  • 37. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • What is a score? Objectives prediction of behaviour e.g. Data & Analytics - risk: probability of delinquency - retention: probability of closure or inactive Strategy Design summary all our knowledge Operational Design - based on past experience - function of input data Strategy Delivery - statistically balances predictive factors - nothing else can be added to improve our Strategy Evaluation understanding Budget Definition • BUT – scores do not make decisions See: Part Two, pp.7-10 Webcast: collections
  • 38. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 39. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 40. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 41. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 42. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 43. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 44. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 45. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Scores Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 46. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS The sufficient statistic FRAMEWORK • Why is this important? Objectives reduces dimensionality simplifies decision-making Data & Analytics simplicity works Strategy Design Operational Design Scores Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.7 Webcast: collections
  • 47. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 17
  • 48. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy design FRAMEWORK Objectives What does a ‘marketing approach’ mean in relation to collections? Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 17
  • 49. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
  • 50. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
  • 51. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Lender actions Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
  • 52. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender actions Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
  • 53. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender Analysis actions Strategy Evaluation Budget Definition See: Part Two, pp.6-7 Webcast: collections 18
  • 54. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender Analysis actions Strategy Evaluation Budget Definition Refinement See: Part Two, pp.6-7 Webcast: collections 18
  • 55. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Key issue: understanding customer response Objectives Data & Analytics Customer Strategy Design response Operational Design Strategy Delivery Lender Analysis actions Strategy Evaluation Budget Definition Refinement See: Part Two, pp.6-7 Webcast: collections 18
  • 56. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.6-7 Webcast: collections 19
  • 57. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.6-7 Webcast: collections 19
  • 58. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Prospects Cohorts Budget Definition See: Part Two, p.6-7 Webcast: collections 19
  • 59. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Prospects Contact Cohorts Campaigns Budget Definition See: Part Two, p.6-7 Webcast: collections 19
  • 60. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives identify ‘the dream’ design the campaigns Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Prospects Contact Collection outcomes Cohorts Campaigns Response analysis Budget Definition See: Part Two, p.6-7 Webcast: collections 19
  • 61. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.13 Webcast: collections 20
  • 62. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.13 Webcast: collections 20
  • 63. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives understand cause and effect: measure collection outcome Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, p.13 Webcast: collections 20
  • 64. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives understand cause and effect: measure collection outcome Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Cured Budget Definition Into recoveries See: Part Two, p.13 Webcast: collections 20
  • 65. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Taking a marketing approach FRAMEWORK • Possible solution: think as a marketer Objectives understand cause and effect: measure collection outcome Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Cured Budget Definition Into recoveries understand financial consequences: contribution & retention See: Part Two, p.13 Webcast: collections 20
  • 66. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy evaluation FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 21
  • 67. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Tell me more about strategy evaluation FRAMEWORK Objectives When it comes to evaluating a collections strategy, what key action Data & Analytics could people take immediately? Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition Webcast: collections 21
  • 68. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK Objectives Data & Analytics Strategy Design Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.15-16 Webcast: collections 22
  • 69. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK • What do the incentives in your collections area say about Objectives your priorities? group or individual? Data & Analytics reward immediate payments, or sustained payment? encourage staff to share approaches that work best, or keep them as Strategy Design a closely guarded secret? Operational Design Strategy Delivery Strategy Evaluation Budget Definition See: Part Two, pp.15-16 Webcast: collections 22
  • 70. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK • What do the incentives in your collections area say about Objectives your priorities? group or individual? Data & Analytics reward immediate payments, or sustained payment? encourage staff to share approaches that work best, or keep them as Strategy Design a closely guarded secret? • What is the role of the supervisor in collections? Operational Design ‣ model worker? ‣ trainer? Strategy Delivery ‣ evaluator of staff performance? ‣ what % of staff calls does the supervisor monitor? Strategy Evaluation Budget Definition See: Part Two, pp.15-16 Webcast: collections 22
  • 71. © 2009. Copyright Fraudscreen Ltd. COLLECTIONS Having a retention mind-set FRAMEWORK • What do the incentives in your collections area say about Objectives your priorities? group or individual? Data & Analytics reward immediate payments, or sustained payment? encourage staff to share approaches that work best, or keep them as Strategy Design a closely guarded secret? • What is the role of the supervisor in collections? Operational Design ‣ model worker? ‣ trainer? Strategy Delivery ‣ evaluator of staff performance? ‣ what % of staff calls does the supervisor monitor? Strategy Evaluation • What do your customers think of the collections process? ‣ do you ask customers who have been in collections what they thought Budget Definition of it? ‣ how do you measure retention? See: Part Two, pp.15-16 Webcast: collections 22
  • 72. © 2009. Copyright Fraudscreen Ltd. Find out more… www.fraudscreen.co.uk/lifecycle-part-two Paper one: Paper three: Pre-delinquency Recoveries Paper two: Collections Webcast: collections 23