LexisNexis® Risk Solutions today announced Contact Plus, an advanced phone and address search solution designed to give skip tracers and debt collectors increased right party contacts through more up-to-date and comprehensive contact information on their debtors.
Contact Plus leverages multiple data sources and proprietary analytics to return results that will allow customers to contact more debtors faster. The search function derives phone numbers using a new sophisticated algorithm. Product testing has shown Contact Plus can locate more than 20 percent more debtors than LexisNexis traditional searches and as much as 30 percent better than the closest competitor. These increases in right party contact will produce significant return on investment for our customers.
“There is a constant need to optimize workflow and to speed up the collections process in order to have a positive impact on the bottom line,” said Robert Fite, vice president, market planning, Receivables Management. “Contact Plus provides enhanced debtor contact information with a single search. In a 1,000 account sample, the application resulted in a 30 percent increase in overall contact performance against competing ‘single search’ products.”
The Contact Plus search can return personal information, such as social security number, date of birth, age, and gender, as well as convenient links to additional skip trace information. The core of this powerful search is the contact information found in the separate phone and address sections. Current and historical address information and EDA, non-EDA, and cell phone information are all found in these two easy to read areas on Contact Plus.
LexisNexis® Risk Solutions is a leader in providing essential information that helps customers across all industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced scoring analytics, we provide products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading publisher and information provider that serves customers in more than 100 countries with more than 30,000 employees worldwide. LexisNexis receivables management solutions assist debt recovery professionals with increasing workflow efficiencies, gaining greater insight into debt portfolios, collecting more in less time and achieving greater profitability.