Collections Optimization for a Regional Credit Card Issuer
Background: Client faced deteriorating delinquent loan performance and engaged AQN to find improvements to current Collections efforts
Outcome: AQN's recommended collections improvements are expected to drive a short-term loss reduction up to $0.5MM and a $4MM annual run rate reduction in losses
AQN’s Approach:
Built valuations model and long-term testing plan for Pre-Charge Off Litigation strategies to capture incremental value earlier in the collections process
Identified process opportunities to streamline agent talking points and help customers find correct treatment for their financial hardship situation
Developed proactive targeting strategies to increase enrollments with a testing agenda to inform future strategy developments
Key Results:
Produced detailed launch and testing agendas for three of the client’s Collections strategies
Provided client with a step by step plan to adjust strategy based on early performance results
