Identify new opportunities, reach your most profitable customers, and establish best practices to manage relationships. Experian offers a variety of tools, including data and portfolio management systems and reporting software, to help you gain a full view of your customers' credit activity and behavior so that you can market the right products at the right time to valued customers and decrease your liability with your risky customers.
To help you in your customer management process, we have the following offerings:
1. Account Review
Account Review allows banks and NBFCs to segment their customer portfolios in multiple ways and conduct periodic reviews to devise customer level credit strategies in alignment to their internal credit policies. Account Review helps to proactively monitor credit portfolio and view changes to your customer’s credit profiles. Now user can manage risk better, effectively allocate resources, and develop stronger customer relationships for greater profitability.
2. Bureau Score
When you seek a loan or credit, your credit risk is evaluated, largely by screening your credit score maintained by an agency; your credit report largely guides lenders to decide whether to approve your credit request or not. Experian Credit Score ranges from 300 to 900. Those with a higher score are more likely to have their financial application accepted. Lower score means fewer credit opportunities.
3. Leverage Score
Leverage score predicts risk resulting from high levels of indebtedness and identifies highly leveraged individuals with no signs of payment difficulties at present.
4. Skip trace:
In today’s age when personal debt has reached high levels. it is essential that you are able to make contact with your customer as soon as you realise there is a problem. This gives you the chance to establish a recovery plan and a commitment from them to pay.
Skip Trace is a fast and cost effective debtor tracing solution, which enables banks/financial institution to re-establish contact with customers using sophisticated data matching and monitoring techniques.
5. Portfolio Benchmarking Reports
With portfolio benchmarking reports you can evaluate the effectiveness of your credit policies and gain insights into your portfolio’s health. Regularly measuring your credit portfolio’s performance against internal goals is a great way to keep your organization healthy and strong. Portfolio Benchmarking provides actionable insights from report that will help you build effective business strategies that will drive long-term growth.
With Triggers, you can get updates on your customers or consumers whenever there is change in credit behaviour . Although your customers may look good today, they could easily turn into tomorrow’s defaulters. Without knowing that their credit history has changed, you may be lending your customers more credit than they can afford to pay back and unknowingly increase your risk exposure. The first sign of a problem is when your customers stop paying you, which could be too late to react.
Experian Triggers can help to react instantly and take immediate necessary action to create individual customer strategies allowing you to grow interest and fee income whilst managing default levels.