The quote 'Prevention is better than cure’ is very well suited for the lending industry. To prevent loans from turning into bad debts, lenders must explicitly adopt strategies that provide a detailed overview of the applicant’s financial health.
Retail Collection Portfolio Review by Equifax aims to provide targeted Portfolio Review datasets for debt collections from existing customers of specified members.
Product Benefits
Streamline the overall collection strategy
Enhancing recovery rates
Reducing bad debt
Improving customer experience
Targeted Approach For Enhanced Customer Experience
Data driven financial health check for the customers
Identifying potential threats and early delinquency signs
Decrease write-offs
Saves time and operational expense
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