Genpact’s early stage collection services offer outbound calls to customers who are in the early stages of delinquency (usually 2-3 months past due date). Our unique approach helps fine tune the debt recovery process with automated solutions and focused analytics offered from 9 global delivery centers.

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Our approach focuses on analytics, automated solutions and qualified people to optimize collections success. By utilizing balance, risk, demographic, performance and psychographic based segmentation, collections/recovery scorecards (account and customer), roll rate models, behavioral risk scorecards and scorecard validations and monitoring, we define those accounts most likely to roll, run off, self-cure, default on first pay or respond to treatment. This gives us the best strategy for treating collections accounts.

Employing analytics helps us determine not only who to contact, but the best time and method of intervention. Treatment and channel optimization and best time to call models ensure that when the call is made, it fits the right timeframe to optimize contact. Segmentation analytics define areas that generate good cash flow with minimal expense, segments generating low cash flow and profiles based on collections attributes for an optimized contact strategy. By utilizing these methods we can redeploy resources from low to high segments for annual loss savings—for one client, resulting in $3.6 million savings.

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Client: A US Consumer Finance Major

A collections and recoveries Center of Excellence employing 60-plus full time employees experienced a drop in right party collection contacts from 100 to 15 basis points. This drop from best-in-class status resulted in lower collection efficiency and negatively impacted loss goals. Genpact determined that calls were not being placed in “best time to call” intervals because of a low awareness amongst collectors of the best days and times to place calls. In addition, multiple client/due stage account files were worked upon simultaneously by the same group of collectors increasing odds of calls being placed inappropriately. To solve this problem, Genpact aligned agent schedules to meet “Best Time to Call” intervals and created client groups to increase the percentage of attempts and hours in “Best Time to Call” timeframes. Completion rates rose from 39-70 percent for a $2.05 million reduction in net losses.

Client: A US Consumer Finance Major
A collections and recoveries Center of Excellence employed over 137 full time employees in outbound collections to contact card holders and make payment arrangements through Payment Promises. A poor promises kept rate regarding these promises was negatively impacting the loss goals for the company. Genpact analytics and benchmarking strengths were used to determine that electronic payments were popular among customers but were not being used to full advantage. Analytics were also used to determine what type of payment options customers would most benefit from. By training employees on these methods and raising awareness of the popularity of online payment methods, the promise kept rate increased 13.6 percent for an annualized Net Loss Saving of $3.4 million.

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