Fair Isaac's Debt Manager 6.0 Delivers Streamlined Collections and Recovery Capabilities.MINNEAPOLIS -- Fair Isaac Fair Isaac Corporation (NYSE: FIC), founded in 1956 by engineer Bill Fair and mathematician Earl Isaac, provides consulting services and enterprise decision management systems. Corporation (NYSE NYSE See: New York Stock Exchange :FIC FIC First International Computer FIC Fogarty International Center (John E. Fogarty International Center for Advanced Study in the Health Sciences; National Institutes of Health) FIC Fellowship for Intentional Community ), the leading provider of analytics and decision technology, announced today the release and immediate availability of Debt Manager(TM) solution 6.0. The new version of Fair Isaac's end-to-end collections and recovery software provides businesses in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , telecommunications, utilities and government with a more efficient and customer-centric approach to managing consumer debt. Debt Manager solution is an integrated, highly flexible workflow management platform capable of managing delinquent accounts at both the customer and account level. It addresses all phases of the debt lifecycle -- from early collections through to recoveries, agency placement, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , bankruptcy, and asset repossession The taking back of an item that has been sold on credit and delivered to the purchaser because the payments have not been made on it. For example, if an individual fails to render prompt payments on a new car, the car might be subject to repossession by the finance company, , management and disposal. The average Debt Manager client can create a double-digit improvement in their return on collection activities. "Given recent increases in delinquency rates, combined with the revision of bankruptcy law, banks are turning their attention to collections and recovery," said Jim Eckenrode, Vice President, Banking and Payments Research, at leading analyst firm TowerGroup. "And, as with originations, streamlined workflow processes that ensure compliance and shorten processing timeframes, combined with a customer-centric approach to borrower data across all relationships with the bank, are improvements that allow lenders to provide a more appropriate and responsive treatment to their collections and recovery activities. The end result is a more profitable loan portfolio across the organization and more loyal customers." Version 6.0 introduces valuable new innovations, including daytime account processing through Routers(TM), the system's rule-based workflow engine Workflow engine is a software application meant to manage and execute modeled business processes. It is a key component in workflow technology. It will typically make use of a database server. . This capability allows collectors to fast-track their collections and recovery processes instead of relying on nightly batch processing (1) Performing a particular operation automatically on a group of files all at once rather than manually opening, editing and saving one file at a time. For example, graphics software that converts a selection of images from one format to another would be a batch processing utility. . Debt Manager 6.0 also offers client-centric, preconfigured Set up ahead of time. It implies that the device or software application has been modified to suit the customer or situation. See ghosting server. web collection screens which provide collectors with a comprehensive view of the debtor and related accounts. This new feature helps minimize charge-offs and increase recoveries of all delinquent accounts while eliminating the need for multiple contacts and activities. "Debt Manager continues to set the ground rules for effectiveness and efficiency in the collections and recovery industry," said Dale Williams Dale Williams is a Welsh professional football (soccer) player, currently unattached, but most recently with Shrewsbury Town F.C. Beginning his career as a trainee with Yeovil Town, Williams played just four minutes for the Somerset club, after coming on for Arron Davies in , vice president of Collections and Recovery Solutions at Fair Isaac. "The new functionality provides our financial services and debt servicing clients with streamlined information required to execute a collection strategy for the entire customer relationship, resulting in improved collections rates and a quick return on investment." Other technical enhancements in Debt Manager 6.0 include: --Call Scripting - Client-definable scripts including account data such as debt type, status, etc., can be utilized for new collectors to shorten their learning curve, standardize collector processes and ensure adherence to compliance rules. --User Definable Area - A new collection screen area that can be client-defined during the implementation process reduces implementation cost by minimizing the need for custom screen development. --Standard Application Program Interfaces (API) - A new set of APIs allows easy integration of third-party data and applications with Debt Manager. The APIs are independent of Debt Manager's user interface (client/server or web), decreasing implementation costs and time. Debt Manager 6.0 also features language localization Customizing software and documentation for a particular country. It includes the translation of menus and messages into the native spoken language as well as changes in the user interface to accommodate different alphabets and culture. See internationalization and l10n. features, including Double Byte Character Set that will be particularly beneficial to clients and prospects in the Asia-Pacific region. The Debt Manager solution is available as an in-house system or can be hosted remotely from one of Fair Isaac's data centers. The solution is highly scalable and capable of managing millions of accounts with thousands of concurrent users operating at a single site or across multiple locations. Integrated with Fair Isaac's BridgeLink(TM) network and advanced analytics, Debt Manager is the most sophisticated collections and recovery solution available on the market. About Fair Isaac Fair Isaac Corporation (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services power billions of mission-critical customer decisions a year. Founded in 1956, Fair Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations and government agencies. Through the www.myFICO.com web site, consumers use the company's FICO FICO See: Financing corporation (R) scores, the standard measure of credit risk, to manage their financial health. For more information, visit www.fairisaac.com. Statement Concerning Forward-Looking Information Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding Debt Manager version 6.0 product offering and the benefits to be derived from this offering, are forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended September 30, 2004, and quarterly report on Form 10-Q Form 10-Q See 10-Q. for the period ended June 30, 2005. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements. Fair Isaac, Debt Manager and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be the trademarks of their respective owners. |
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