Enhanced Collection Processes With Bank Data

Make more informed lending decisions with real-time data and instant insights.

Problems & Challenges Currently Faced By Collections

Identifying Affordability

The current process of affordability assessments is long, inaccurate, and allows for a high chance of human error.

Accuracy Of Outgoings

Consumers can accidentally or purposefully misrepresent their outgoings to collectors.

Verifying Income

Verifying income can be difficult when relying on customer asserted information.

Consumer Fear Of Collection Calls

Calls to debtors can be difficult and long due to the debt situation and amount of information required.

Identifying Other Repayments

If is difficult to identify other loans or debts that require repayments which can cause debt repayment defaults.

Identifying Discretionary Vs. Non-Discretionary Spend

With customer asserted data it is difficult to identify what consumer spend can be used for repayments.

Solutions Using Bank Data & Expected Results For Collections

Reduce Loans Becoming Bad-Debt

More informed initial lending decisions through the use of bank data reduces the number of loans becoming bad debt.

More Informed Collection Plans

Create more informed collections plans through transaction data analysis, risk alerts, and spending habit analysis.

Higher Performing Debt Book

Increase successful repayments through accurate and instant analysis of bank data transactions.

Reduce Collection Call Times

Have debtors connect their bank data to reduce time on calls collecting I&E information.

More Accurate Income And Expenditure

Reduce misrepresented income and expenditure figures provided by consumers by accessing data directly.

Reduce Size Of Bad Debt Book

Reduce bad debt book size through more informed initial lending and better repayments, reducing business risk.

Untapped Opportunities For Financial Services Using Bank Data.

There are many untapped opportunties for the financial services industry and for individual consumers through bank data, and it is incumbent on us all we make the most of this opportunity.

Read this article
It’s such a light touch integration. DirectID makes it fast and easy to get up and running.

Lee Birkett
CEO, Just Us

Our Products Solving Collection Processes

The current process of affordability assessments is long, inaccurate, and allows for a high chance of human error. With so much physical documentation, and manual assessment required, fraud also becomes a high risk factor to every application. And adding to this, poor affordability decisions can lead to weak long-term businesses!

Supplement your
CRA Implementation

Don't lose business through exceptions processes or marginal applications. Supplement your standard CRA assessments with instant insights and real-time data.

Speak to a dedicated expert.