LexisNexis Risk & Information Analytics Group announces alliance with Account Control Technology Inc.MortgagePress.comcollections solutions, debt recovery processes, analytics, debtor insight data
LexisNexis Risk & Information Analytics Group and Account
Control Technology Inc. (ACT) announced a strategic alliance that
will lead to enhanced collections solutions and improved debt
recovery processes. The first phase of the alliance, currently
underway, involves blending LexisNexis' analytics and data with the
collections experience and insight of ACT.
"As an aggressive, growth-oriented company, we are always
looking for new ways to improve our recovery rates and client
service," said Don Taylor, president of ACT. "As a LexisNexis
customer, we benefit from the quality of their analytics and wanted
to find additional ways of leveraging their advanced technology.
This alliance allows us to co-develop next-generation collections
solutions while benefiting from the knowledge and expertise that
both organizations have gained as leaders in collections
technology."
The new unique analytics solution combines LexisNexis debtor
insight data with information and methodologies developed by ACT.
The joint solution draws heavily upon RecoverScore solution, a
scoring product that uses data mining techniques to identify the
most collectible accounts in a debt portfolio. Utilizing
comprehensive public records, highly predictive non-credit data and
historical account-specific data, RecoverScore helps collectors
predict the likelihood of debt recovery as well as the quality of
individual accounts.
"Through highly predictive analytic solutions such as
RecoverScore, we have continually been able to help improve the
recovery rates of countless collections agencies," said Rob Fite,
vice president of collection solutions for LexisNexis Risk &
Information Analytics Group.
In addition to the scoring model project, ACT will serve as a
live test-bed for LexisNexis products, providing a steady stream of
feedback on existing solutions and on those products with joint
collaboration. In addition, LexisNexis will work with ACT to
analyze and refine the company's recovery processes.
For more information, visit www.lexisnexis.com or www.accountcontrol.com.
