Scotiabank deploys Fair Isaac online debt manager system
18 January 2006 | 2760 views | 0
Source: Fair Isaac
Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced that Scotiabank, Canada's most international bank, is utilizing Fair Isaac's Debt Manager Web solution to support its international collections initiatives.
Debt Manager Web is capable of managing millions of accounts with users operating at a single site or across multiple locations, and supports Scotiabank's customer-centric approach for managing consumer debt. The integrated collections and recovery software solution combines streamlined workflow processes with a comprehensive view of each customer and their related accounts.
The application's sophisticated account segmentation and decisioning capabilities allow Scotiabank to execute the optimal collection strategy for the entire customer relationship across the bank, resulting in increased customer service and loyalty, and improved efficiency and productivity.
"Fair Isaac offers a unique and powerful combination of industry-leading predictive analytics, program management capabilities and deep experience in collections processes and platforms," said Nolan Miller, Vice President, International Banking - Retail Lending at Scotiabank. "Debt Manager provides the functionality needed to support our vision of being the best at helping customers become financially better off by providing relevant solutions to their unique needs and circumstances."
Scotiabank has been using Debt Manager to support its branches throughout the Caribbean and Central America since 2001. Recently, Scotiabank completed the implementation of a complete Customer Centric collection strategy, using Fair Isaac's Debt Manager Web solution to manage its collections and recovery operations.
"This implementation represents a significant success for both Scotiabank and Fair Isaac," said Dale Williams, vice president of Collections and Recovery Solutions at Fair Isaac. "Scotiabank came to us with a vision to create a better, holistic collections infrastructure, and Debt Manager is the ideal solution to deliver this "big picture" approach. We look forward to helping Scotiabank meet the needs of their customers and achieve business success in the many different markets they serve."
Debt Manager is a configurable, flexible client/server and web software application designed for organizations with multiple product and risk portfolios, rapidly changing organizational hierarchies and dynamic business models. It addresses all requirements in all phases of the debt lifecycle - collections, recoveries, asset management, asset disposal, residual balance recovery, litigation and bankruptcy. Integrated with Fair Isaac's BridgeLink network and advanced analytics, Debt Manager is the most sophisticated collections and recovery solution available on the market.