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Improving Consumer Debt Collection

Company with 15K customer care pros focused on providing outsourced customer experiences like consumer debt collection.

GOAL: In the aftermath of the global financial meltdown, client needed to optimize and prioritize their debt collections outreach efforts (5-10M calls/day to 60M consumers) to improve collection productivity and profitability.

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INSIGHT + ACTION: Developed a series of prediction models to identify an expected $ value for each dial attempt, and prioritize calls based on when and whom to call, how much to ask for, and which agent will yield the highest profits.

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Model predictions included:

  • Consumer liquidity in 30 / 60 / 90 days

  • Probability of paying in next 30 days

  • Probability of contacting someone on next dial attempt

  • Expected $ value of next call attempt

  • Expected profit on next call attempt

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BUSINESS OUTCOME: Predicted 30 / 60/ 90 day consumer liquidity and value of next call to increase collections efficiency by over 140% and improving contact center profitability. 

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