FICO Launches PlacementsPlus 6.0 to Maximize Debt Recovery, Optimize Collection Agency Performance

MINNEAPOLIS — FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced that it has released the latest version of its collections agency management service, FICO™ PlacementsPlus® service 6.0. Already the leading service that provides creditors visibility and control over the outsourcing of third-party collection activities, FICO PlacementsPlus 6.0 includes enhanced analytics and more sophisticated reporting tools to better manage and optimize collections agency performance. These benefits can lead to improved operational results and increased debt recovery.

High unemployment and continued stress in the consumer economy have caused overall debt volumes to grow. Credit grantors are outsourcing more debt – not only for charged-off debt but also through the earlier placement of delinquent accounts with third-party collections agencies. At the same time, it’s becoming increasingly difficult to decide how best to assign accounts to various agencies, as those agencies are getting more competitive and credit grantors struggle with inefficient processes and inconsistent agency performance. As such, creditors need more effective ways to monitor agency activities on a daily basis and proactively manage agency performance.

FICO™ PlacementsPlus® service 6.0 gives creditors new tools to optimize the distribution of their debt among collections agencies, matching specific debt attributes with the agencies best suited to that type of debt. The service also now enables creditors to set multiple and customized debt recovery thresholds, or goals for dollars to collect, for their various agencies. Not only does PlacementsPlus 6.0 help determine the appropriate performance thresholds for each agency, it helps creditors track and evaluate progress and adjust as needed to improve performance and ensure success.