Identification of “at-risk” customers early and cost effectively.

At a time when unemployment soars and borrowers’ability to pay is widely uncertain, how well do you know your customer and how quickly are you aware of changes to their financial situation? It is no longer acceptable to manage risk with a single score, nor can lenders profit without taking risk. Today’s market demands new solutions, new strategies, tools and data. Lenders need a more complete understanding of each borrower, including income, assets and ability to pay. They must evaluate a consumer’s personal balance sheet and income statement – which in today’s market may change on a dime. Risk and opportunity should be ascertained for new, semi-active and existing accounts by assembling more data, accessing new data sources, running more analytics and doing it all more quickly in the interest of faster and wiser decisions. This is the essence of preemptive risk management. This session will focus on the use of balance control strategies across a variety of customer interactions and informed by the principles of preemptive risk management. Participants will learn how to manage down bad balances on high risk accounts and equally important – protect brand loyalty and increase good spend and balances and low risk, high value customers.

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