TransUnion Announces New Collection Recovery Models

LAS VEGAS – TransUnion, a leading global information solutions company, today announced at the 9th Annual National Credit and Collections Conference the release of four new collections recovery models. The incidence-based models help collections organizations identify which customers are most likely to repay their debts in order to prioritize work effort. The models also will assist organizations in identifying the most cost-effective treatment strategy based on the likelihood of repayment.

Based on data supplied by a diverse consortium of companies and developed by TransUnion’s analytics and decisioning experts, the four models include a generic- all industry model, as well as three others targeting specific industry segments, including bank and retail cards, auto and installment loans and medical debts. Each model’s performance has been optimized and tailored to the unique needs and measurements of the industry segment, helping to ensure high recovery rates.

“A one size fits all approach is no longer applicable in the collections arena,” said Michael Kiyosaki, executive vice president of TransUnion’s Analytic Decision Services group. “As collections become more targeted based on consumer behavior and specific types of debt, so must the tools the industry uses in its efforts. Capturing the nuances of collections within a certain industry is the key driver in the performance of our industry-specific models.”

In addition to the custom approach these models offer, the minimum exclusion criteria are broader than other traditional, generic collections and recovery models, enabling more accounts to be scored. National Validation Summaries and Monthly Score Distribution Reports also are available to enable better decision-making. The scores are delivered along with the TransUnion Credit Report and virtually all of the company’s credit report variations, including the Collection Prioritization Engine, Collection Credit Report, Model Report and ID Report with Score.

These models further complement TransUnion’s comprehensive debt management solution, giving collectors solutions in all phases of the collections lifecycle, from location to prioritization to collection to refinement. Each solution is supported by the experience and ingenuity of a dedicated team of highly trained professionals and leverages more than 30 years of experience in taking predictive consumer data and integrating it with analytic and decisioning technologies to allow collectors to make actionable decisions.

Along with consultative services, TransUnion offers the following solutions to round out its collection offerings:

• TransUnion Collection Prioritization – identifies the accounts from which a collector may recover the most money for the least expense.

• TransUnion Location Services – combines access to comprehensive information on virtually every market active consumer in the nation, including phone numbers and addresses, both past and present, with advanced search and location tools.

• TransUnion Online Payment – provides an online method for collecting past-due payments that is cost-effective for companies and less confrontational for consumers than traditional collection methods.

• TransUnion Portfolio Monitoring – analyzes delinquent accounts to uncover lifestyle changes that signal a newfound ability to pay.