Prevention is Better than CollectionBy Predicting, treating and preventing delinquency early organizations can:
|  Dramatic Reduction in Impairment Losses and Adherence to the New Banking Code. |
As consumer debt climbs, delinquency costs are spiraling out of control.
Traditional methods simply react to delinquency that has already occurred when its too late to do much about the problem.
Its time for a solution that can accurately predict which customers are likely to default on their payments. This allows organizations to implement the right treatment strategies, reducing the risk while demonstrating corporate social responsibility for customers.
The Introduction of PDM in the debt lifecycle
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Portrait Pre-Delinquency Management (PDM) drives down the provision for impairment by identifying customers likely to fall into delinquency, then triggering the right treatment strategies.
Collections efforts are too expensive and too late. By predicting and managing delinquency before it occurs, Portrait PDM allows organizations to:
- Significantly reduce the provision for impairment
- Reduce the number of accounts moving into collections
- Maintain revenue by keeping accounts live
- Identify new revenue opportunities
- Demonstrate sensitivity and offer advice when needed most
- Ensure fair treatment
- Drive up customer lifetime values
Portrait Pre-Delinquency Management improves the efficiency and effectiveness of the whole Debt Management lifecycle.