With today’s heightened focus on managing customer risk, you need to mitigate loss with a collections strategy that reveals which customers are most capable of re-paying, and how to make contact with them quickly— before other creditors do. Collections Lifecycle Management from Equifax offers a powerful mix of specialized collections data and insights that help you analyze customer information and payment history. This allows your business to develop account strategies focused on a specific audience and, more importantly, provide predictive insights to better target emerging hot spots in your portfolio that are a result of payment deferrals and government stimulus program support. Understand where your customers were pre-COVID 19 and where they may be headed to drive potential actions. Pre-delinquency Stage Help predict debtor behaviour with portfolio segmentation. Assess the impact and health of your portfolio pre- and post-COVID 19 and proactively tailor hardship offers. Collections (Early and Late Stage) Optimize collections with account prioritization. Rank customers to prioritize action – remediation versus self-cure to provide ‘targeted customer relief’ to manage hardship. Recoveries Management Help improve revenue recovery rates. Understand if your consumer’s situation is improving or deteriorating.