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How Mobile Communications Can Improve Collections

40% of defaulting borrowers who pay via mobile phone do so within 30 minutes of receiving a mobile payment request.  78% do so within 48 hours!

Today, few lenders enable defaulting borrowers to manage payments via alternate channels such as mobile services. However, digital strategies can dramatically improve collections performance. Banks that use these services can significantly increase both contact rates and payments received—at a lower cost than traditional methods.)

A FICO (Fair Isaac Corporation) white paper shows how: 

  • Lenders are taking advantage of mobile services to improve customer communications
  • Digital strategies can improve collections results and reduce costs
  • Lenders can fully leverage mobile services by integrating them into multi-channel strategies

To access the white paper click on the link:  58_Mobile_Communications_2849WP

FICO (NYSE:FICO) is the leader in Decision Management, transforming business by making every decision count. We use predictive analytics to help businesses automate, improve and connect decisions across organizational silos and customer lifecycles.

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