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Fico Management of Debt Collections System Banks Use

Fico Management of Debt Collections System Banks Use

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Published by: SCRUPEUSS on Apr 26, 2013
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marketwatch.com
http://www.marketwatch.com/story/fico-introduces-industrys-most-powerful-analytic-solution-built-for-customer-focused-collections-and-recovery-2013-04-23
FICO Introduces Industry's Most Powerful Analytic SolutionBuilt for Customer-Focused Collections and Recovery
SAN JOSE, Calif., April 23, 2013 /PRNewswire via COMTEX/ -- FICO/quotes/zigman/226195/quotes/nls/ficoFICO+0.64% , a leading predictiveanalytics and decision management software company, today announced therelease of FICO
Debt Manager(TM) 9, an end-to-end collections andrecovery solution that transforms the way creditors connect with their customers and collect debt. The new version, based on a fully configurable,scalable architecture, gives collectors the most up-to-date customer information, the most effective collection strategies and the most expedient way to contact each individualcustomer.Shifting cultural attitudes about debt repayment, increased competition amongcreditors for payments, and the drive to preserve hard-won customer relationshipsmean that collections is increasingly seen as a customer service function. DebtManager 9 is the most comprehensive analytics-based solution built to address all of these factors.With real-time updates, users can confidently guide each and every customer interaction. Because users canmodify strategies themselves, without IT intervention, they can fine-tune treatments to specific customer profiles and needs, rather than relying on crude, one-size-fits-all segmentation. In addition, FICO DebtManager 9's integration with FICO
Adeptra
Risk Intervention Manager allows users to reach morecustomers more effectively using mobile application, voice, SMS, web or e-mail, thereby increasing their success rates.Unlike systems that are limited to the processes and practices of a single industry, Debt Manager is designedfor easy configuration to the unique requirements of a wide variety of creditor types, including financialinstitutions, government agencies, retailers, auto lenders, student loan providers and health care entities, aswell as third-party collection agencies."We're committed to compliant collections, while leveraging analytical mining tools to allocate collectionresources and target the optimal strategy to the appropriate segment," said Howard Enders, president andchief operating officer of Phillips & Cohen, a FICO collections and recovery solutions client. "The ability todevelop efficient custom solutions on our own is a critical component to success."Built using an open, service-oriented architecture, FICO
Debt Manager(TM) 9 is designed for streamlineddeployment, and provides complete system-of-record accounting capabilities. The system also providescomprehensive security, audit capabilities and access to third-party data, vendors and services. The ease of configurability empowers business users, not just IT, to modify the system to meet stringent compliancemandates, as well as specific requirements for a variety of industries.Debt Manager 9 also comes with built-in tools and supporting services to ease upgrade and training for clientson earlier versions of the solution, and for clients on other platforms interested in migrating to this latestrelease.
 
"Collections teams are increasingly challenged not only to increase their debt collecting efficiency andeffectiveness, but also to provide a positive customer experience and meet challenging compliancerequirements," said David Lightfoot, vice president, product management for FICO. "FICO Debt Manager 9, withits real-time decisioning and ease of use for business users, makes it much easier for credit grantors and their agencies to ensure an overall positive experience for their customers." About FICOFICO /quotes/zigman/226195/quotes/nls/ficoFICO+0.64% delivers superior predictive analytics solutions thatdrive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior hastransformed entire industries and revolutionized the way risk is managed and products are marketed. FICO'sinnovative solutions include the FICO
Score - the standard measure of consumer credit risk in the UnitedStates - along with industry-leading solutions for managing credit accounts, identifying and minimizing theimpact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, aswell as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutionsto accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helpsmillions of individuals manage their personal credit health through www.myFICO.com. Learn more atwww.fico.com. FICO: Make every decision count(TM).For FICO news and media resources, visit www.fico.com/news.Statement Concerning Forward-Looking InformationExcept for historical information contained herein, thestatements contained in this news release that relate to FICO or its business are forward-looking statementswithin the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.These forward-looking statements are subject to risks and uncertainties that may cause actual results todiffer materially, including the success of the Company's Decision Management strategy and reengineeringplan, the maintenance of its existing relationships and ability to create new relationships with customers andkey alliance partners, its ability to continue to develop new and enhanced products and services, its ability torecruit and retain key technical and managerial personnel, competition, regulatory changes applicable to theuse of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions,continuing material adverse developments in global economic conditions, and other risks described from timeto time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2012and its last quarterly report on Form 10-Q for the period ended December 31, 2012. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intentor obligation to update these forward-looking statements.FICO, Debt Manager, Adeptra and "Make every decision count" are trademarks or registered trademarks of FaiIsaac Corporation in the United States and in other countries.SOURCE FICOhttp://rt.prnewswire.com/rt.gif?NewsItemId=CG00179&Transmission_Id=201304231600PR_NEWS_USPR_____CG00179&DateId=20130423Copyright (C) 2013 PR Newswire. All rights reserved/quotes/zigman/226195/quotes/nls/ficoFair Isaac Corp.US : U.S.: NYSE$ 44.28
 
+0.28 +0.64%Volume: 201,879 April 25, 2013 4:03pP/E Ratio18.30Dividend Yield0.18%Market Cap$1.56 billionRev. per Employee$300,689/quotes/zigman/226195/quotes/nls/ficoFair Isaac Corp.US : U.S.: NYSE$ 44.28+0.28 +0.64%Volume: 201,879 April 25, 2013 4:03pP/E Ratio18.30Dividend Yield0.18%Market Cap$1.56 billionRev. per Employee$300,689Find a Broker 
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